IMF Tips 3.2% Global Growth, Warns China on Property Crisis
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The International Monetary Fund (IMF) has issued its latest World Economic Outlook, forecasting global real GDP growth of 3.2% for 2024 and 2025. The IMF warns that China's economy is strained by its property crisis and that domestic demand will remain weak unless strong measures are taken. The IMF recommends that China speed up the closure of non-viable developers, complete unfinished housing projects, and support vulnerable households to restore consumer demand. The lack of a comprehensive restructuring package for China's property sector could prolong the downturn in domestic demand and worsen China's outlook. The IMF also warns that China could face trade retaliation and deflationary pressures if the property crisis is not addressed. The IMF forecasts that US economic strength will help achieve slow but steady global growth this year, despite headwinds from high inflation, weak demand in China and Europe, and regional conflicts. The IMF also notes the potential impact of the Middle East conflict on limiting growth, including higher oil prices and inflation. The IMF revises its forecast for 2024 US growth upward to 2.7% and highlights the divergence between the US and Europe, with Europe facing slower growth and faster-falling inflation. The IMF raises its growth forecast for Brazil and India, but low-income developing countries continue to struggle with post-pandemic adjustments. Russia's growth forecast is increased due to strong oil export revenues and government spending. The IMF also upgrades Russia's growth forecast for 2025. Ukraine's growth is forecast to slow in 2024 and accelerate in 2025, but a widening of the conflict with Russia could intensify price spikes for commodities. Overall, the IMF sees the global economy displaying resilience with steady growth and declining inflation, but acknowledges that many challenges still lie ahead.
#Imf #GlobalGrowth #China #PropertyCrisis #Economy #DomesticDemand #TradeRetaliation #Inflation #Us #Europe #MiddleEastConflict #OilPrices #Russia #Ukraine #Commodities
https://www.asiafinancial.com/imf-tips-3-2-global-growth-tells-china-to-rejig-property-sector
Asia Financial /
npub1tf…4lkk0
2024-04-17 10:33:45
Author Public Key
npub1tfqzenj4wwscy7hhrs7d9wygkqncl5ywgqlcc32lffwtg5yskruq74lkk0Published at
2024-04-17 10:33:45Event JSON
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"content": "IMF Tips 3.2% Global Growth, Warns China on Property Crisis\n==========\n\nThe International Monetary Fund (IMF) has issued its latest World Economic Outlook, forecasting global real GDP growth of 3.2% for 2024 and 2025. The IMF warns that China's economy is strained by its property crisis and that domestic demand will remain weak unless strong measures are taken. The IMF recommends that China speed up the closure of non-viable developers, complete unfinished housing projects, and support vulnerable households to restore consumer demand. The lack of a comprehensive restructuring package for China's property sector could prolong the downturn in domestic demand and worsen China's outlook. The IMF also warns that China could face trade retaliation and deflationary pressures if the property crisis is not addressed. The IMF forecasts that US economic strength will help achieve slow but steady global growth this year, despite headwinds from high inflation, weak demand in China and Europe, and regional conflicts. The IMF also notes the potential impact of the Middle East conflict on limiting growth, including higher oil prices and inflation. The IMF revises its forecast for 2024 US growth upward to 2.7% and highlights the divergence between the US and Europe, with Europe facing slower growth and faster-falling inflation. The IMF raises its growth forecast for Brazil and India, but low-income developing countries continue to struggle with post-pandemic adjustments. Russia's growth forecast is increased due to strong oil export revenues and government spending. The IMF also upgrades Russia's growth forecast for 2025. Ukraine's growth is forecast to slow in 2024 and accelerate in 2025, but a widening of the conflict with Russia could intensify price spikes for commodities. Overall, the IMF sees the global economy displaying resilience with steady growth and declining inflation, but acknowledges that many challenges still lie ahead.\n\n#Imf #GlobalGrowth #China #PropertyCrisis #Economy #DomesticDemand #TradeRetaliation #Inflation #Us #Europe #MiddleEastConflict #OilPrices #Russia #Ukraine #Commodities\n\nhttps://www.asiafinancial.com/imf-tips-3-2-global-growth-tells-china-to-rejig-property-sector",
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