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IMF Cuts China's 2012 Growth Rate

6 years ago26 views

The International Monetary Fund cut the growth forecast for China's economy on Monday along with the global growth forecast, providing a bleak outlook for Eurozone legislators.

The growth rate for 2012 was reduced from 8.2% to 8%. The IMF said in its latest report that, (quote) "There are tail risks of a hard landing in China, where investment spending could slow more sharply, given overcapacity in a number of sectors."

The Eurozone is largely dependent on China having a strong economic climate for any potential recovery of its own economic crisis. The IMF cuts come one day after Premier Wen Jiabao warned that a China economic recovery was not stable.

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