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.
For more news and videos visit ☛ http://english.ntdtv.com
Follow us on Twitter ☛ http://twitter.com/NTDTelevision
Add us on Facebook ☛ http://on.fb.me/s5KV2C