Jakarta, CNBC Indonesia – International Monetary Fund (IMF) reported bad news about the Chinese economy. The lending institution said that the economic growth of the Bamboo Curtain Country was slowing at a time when the world was in need of the country’s role in economic recovery after the Covid-19 pandemic.
quote AFP, In a virtual meeting with Chinese Premier Li Keqiang Monday (12/6/2021), IMF Managing Director Kristalina Georgieva said that this slowdown was due to consumption. In fact, the IMF lowered its forecast for China’s growth to 5.6% next year.
“China achieved a truly remarkable recovery, but its growth momentum has slowed notably. Since China is a vital engine for global growth, taking strong actions to support high-quality growth will not only help China, but also the world,” Georgieva was quoted as saying. Tuesday (7/12/2021).
Georgieva added that Beijing has made an important contribution to expanding access to vaccines so that the world can achieve its target of 40% of the global population being vaccinated this year and 70% of the world’s citizens being vaccinated by mid-2022. He called on all countries, especially the G20, to follow Beijing’s steps.
“World countries need to work together to reduce trade tensions and strengthen the multilateral trading system, which is the main engine for growth,” he added.
China itself was hit by a crisis caused by the collapse of several large property companies and also the energy crisis this year. Even the Chinese property giant, Evergrande, is in danger of collapsing with a debt of US$ 305 billion or equivalent to Rp. 4,000 trillion.
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