IMF Economist Urges China to Shift Away From Export Growth
IMF economist Pierre-Olivier Gourinchas expects China's growth to slow by 2027. He urges the nation to cut export reliance amid weak domestic consumption.
The International Monetary Fund's chief economist, Pierre-Olivier Gourinchas, stated on Tuesday that economic output in China is expected to see a slowdown starting in 2027. This deceleration is attributed to sluggish domestic consumption, which continues to weigh on the broader economic outlook. Gourinchas reiterated his call for the world's second-largest economy to transition away from its traditional dependence on exports to drive growth. By fostering a more robust internal market, the nation could potentially mitigate the risks associated with global trade fluctuations and a cooling domestic environment.
