China has got to fix its debt problem, the IMF says

CNBC, Aug 16, 2017
by Sophia Yan

China's economy is looking good enough that the International Monetary Fund is raising its outlook, but the organization is doing so with a strong warning over growing debt in the world's second-largest economy.

The IMF issued its annual review of China on Tuesday, and has revised its growth forecast to 6.7 percent for 2017, which was up from 6.2 percent. The organization also said it expects China to average 6.4 percent growth between now and 2021, versus its previous estimate of 6 percent.

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