The IMF’s latest report on the Chinese economy was upbeat, predicting that China will remain a bright spot for global growth in the coming year. It is slowing – but is not not heading for a “hard landing”.
But the report also contained a dire warning that the storm emanating from Europe would hit China hard and could , if it worsens, cut growth considerably. In this scenario, China has room for a fiscal response – and should use it.
Murtaza Syed, the IMF Resident Representative in China, will discuss the report which says unlike 2009–10, any stimulus should be executed through the budget rather than banking system, and be targeted at supporting people’s incomes and spending rather than infrastructure. The weak global outlook reinforces the importance of rebalancing China’s economy towards more private consumption and a diminishing reliance on investment. The IMF also says China needs to step up reforms in the finance and corporate sectors.
DATE: Feb 22 (Wednesday)
VENUE: Royal Norwegian Embassy, 1, Sanlitun Dongyijie (enter from 3rd ring road South direction) – 挪威使馆，朝阳区三里屯东一街1号 – Tel: 8531 9600
RESERVATION: email firstname.lastname@example.org
ENTRANCE: free to FCCC members, 80 RMB on the door to non-members
ABOUT THE SPEAKER:
Murtaza Syed joined the IMF through the Economist Program in 2004, and has since worked in the Fiscal Affairs Department and the Asia Pacific Department. Mr Syed has previously covered a broad range of Asian economies, including Japan, South Korea, Hong Kong SAR, and Laos. He has a Ph.D. in Economics from Oxford University.