IMF Bolsters China GDP Growth Forecast to 6.3% in 2019

[TaiShang]

IMF Bolsters China GDP Growth Forecast to 6.3% in 2019

YICAI GLOBAL
DATE : APR 10 2019/SOURCE : YICAI

(Yicai Global) April 10 -- The International Monetary Fund has lifted its economic growth forecast for China to 6.3 percent from 6.2 percent.

The IMF revised China's gross domestic product growth estimate in its latest World Economic Outlook report. The document projected a 6.1 percent growth rate for China in 2020, down 0.1 percentage point from the previous estimation.

The upward revision shows the effects of the recent progress in the US-China trade talks, China's stronger-than-expected fiscal and monetary stimulus, and a slowing global economy, according to Changyong Rhee, director of the IMF's Asia and Pacific department.

The IMF lowered its global economic growth forecast for 2019 to 3.3 percent, down 0.2 percentage point from its previous estimate in January, due to uncertainties in the world economy, as well as trade tensions. GDP growth around the world will contract to 3.6 percent in 2020, according to the multilateral organization.

The projected slowdown in 2019 reflects negative revisions for several major economies including the euro area, Latin America, the US, Canada, the UK and Australia, chief economist Gita Gopinath said in the report.

https://www.yicaiglobal.com/news/imf-bolsters-china-gdp-growth-forecast-to-63-in-2019

***

I believe China's growth will be over 6.5% in 2019.

China is now the indispensable nation for global growth. East Asia is the indispensable region for global economic growth.

@Dungeness

 

[TaiShang]

IMF lowers global growth forecast for 2019, warns of downside risks

Source:Xinhua Published: 2019/4/9


The International Monetary Fund (IMF) on Tuesday lowered its global growth forecast for 2019 to 3.3 percent in the newly-released World Economic Outlook (WEO) report, down 0.2 percentage point from its estimation in January.

The IMF said the world economy faces downside risks brought by potential uncertainties in the ongoing global trade tensions, as well as other country- and sector-specific factors.

The 3.3 percent projection for 2019 is 0.3 percentage point below the 2018 figure, followed by an expected return to 3.6 percent in 2020.

IMF chief economist Gita Gopinath wrote in a blog post that the projected slowdown in 2019 is "broad-based."

"It reflects negative revisions for several major economies including the euro area, Latin America, the United States, the United Kingdom, Canada, and Australia," Gopinath said.

With respect to the perceived recovery in 2020, the economist said it is "precarious," adding that it is based on the assumption that "a rebound occurs in emerging market and developing economies."

Beyond 2020, the just-released WEO predicted that global growth will "plateau at about 3.6 percent over the medium term."

http://www.globaltimes.cn/content/1145273.shtml

 

[TaiShang]

Your best bet to grow is still China, @Viva_Viet .

***

IMF upbeat on China's 2019 growth

By ZHAO HUANXIN/ZHOU LANXU | China Daily | Updated: 2019-04-10

A container port in Zhuhai, Guangdong province, Jan 29, 2019. [Photo/VCG]

Prospects supported by expected stability, policies, analysts say

The International Monetary Fund said on Tuesday that it expects China's economy to grow 6.3 percent in 2019－up 0.1 percentage point from its prediction in January. Analysts said the world's second-largest economy is set to remain stable as authorities continue to implement supportive policies.

The latest World Economic Outlook, released at the start of the spring meetings of the IMF and the World Bank in Washington, also predicted the United States economy would grow 2.3 percent this year, 0.2 percentage point lower than the IMF's earlier forecast.

The outlook for China falls within the range of the country's targeted goal of securing between 6 percent and 6.5 percent growth for this year, and is very close to that of Chinese researchers.

On April 1, Zhang Ping, a researcher at the Institute of Economics of the Chinese Academy of Social Sciences, said China's GDP growth should remain at 6.2 percent in the first half, and average 6.3 percent for the whole year, thanks to incentives including tax and fee cuts.

The World Economic Outlook noted that Chinese authorities have responded to the slowdown in 2018 by limiting the extent of financial regulatory tightening, injecting liquidity through cuts in the reserve requirement ratio, and reducing personal income taxes and corporate value-added taxes.

The overall outlook for emerging Asian economies remains favorable, with China's growth projected to slow gradually toward sustainable levels. It predicts the country's growth will moderate to 6.1 percent in 2020.

"China's growth is set to stabilize," said Cheng Shi, chief economist at ICBC International.

"As China increased its growth stabilization policy efforts, its economy has shown signs of stability in the first quarter and may further consolidate in the second," Cheng told China Daily.

China's business activity revived and beat market expectations in March, with the manufacturing purchasing managers index return-ing into expansion territory after three months of contraction, according to the National Bureau of Statistics.

"Growth resilience may surprise on the upside in more aspects," he said, adding that besides a growth rate within a reasonable range, the economy is likely to register accelerated progress toward higher-quality development this year amid a new round of reform and opening-up.

"Structural opportunities (in the capital market) may continuously emerge from the development of the new economy and mass consumption upgrades, fueling the long-term inflow of international capital," he said.

IMF Managing Director Christine Lagarde said in a recent interview with China Central Television that China's economic development now allows for "a focus on quality growth", rather than necessarily quantity growth.

"And China's development is clearly at the stage where it can afford and should afford to do that," Lagarde said.

Over the past year, amid the escalation of US-China trade tensions, credit tightening took place in China, macroeconomic stress was seen in Argentina and Turkey, disruptions to the auto sector occurred in Germany, and financial tightening in larger advanced economies have all contributed to a "significantly weakened global expansion", said IMF Chief Economist Gita Gopinath.

"With this weakness expected to persist into the first half of 2019, our new World Economic Outlook projects a slowdown in growth in 2019 for 70 percent of the world economy," she wrote in a blog on Tuesday.

With improved prospects for the second half of 2019, global growth in 2020 is projected to return to the 2018 level of 3.6 percent, according to the IMF report.

"This recovery is precarious and predicated to rebound in emerging markets and developing economies, where growth is projected to increase from 4.4 percent in 2019 to 4.8 percent in 2020," Gopinath said.

 

[Dungeness]

China manufacturing sector bounces back in March | Apparel Industry News | just-style

Manufacturing in China returns to growth

 

[Viva_Viet]

Your best bet to grow is still China, @Viva_Viet .

***

IMF upbeat on China's 2019 growth

By ZHAO HUANXIN/ZHOU LANXU | China Daily | Updated: 2019-04-10

A container port in Zhuhai, Guangdong province, Jan 29, 2019. [Photo/VCG]

Prospects supported by expected stability, policies, analysts say

The International Monetary Fund said on Tuesday that it expects China's economy to grow 6.3 percent in 2019－up 0.1 percentage point from its prediction in January. Analysts said the world's second-largest economy is set to remain stable as authorities continue to implement supportive policies.

The latest World Economic Outlook, released at the start of the spring meetings of the IMF and the World Bank in Washington, also predicted the United States economy would grow 2.3 percent this year, 0.2 percentage point lower than the IMF's earlier forecast.

The outlook for China falls within the range of the country's targeted goal of securing between 6 percent and 6.5 percent growth for this year, and is very close to that of Chinese researchers.

On April 1, Zhang Ping, a researcher at the Institute of Economics of the Chinese Academy of Social Sciences, said China's GDP growth should remain at 6.2 percent in the first half, and average 6.3 percent for the whole year, thanks to incentives including tax and fee cuts.

The World Economic Outlook noted that Chinese authorities have responded to the slowdown in 2018 by limiting the extent of financial regulatory tightening, injecting liquidity through cuts in the reserve requirement ratio, and reducing personal income taxes and corporate value-added taxes.

The overall outlook for emerging Asian economies remains favorable, with China's growth projected to slow gradually toward sustainable levels. It predicts the country's growth will moderate to 6.1 percent in 2020.

"China's growth is set to stabilize," said Cheng Shi, chief economist at ICBC International.

"As China increased its growth stabilization policy efforts, its economy has shown signs of stability in the first quarter and may further consolidate in the second," Cheng told China Daily.

China's business activity revived and beat market expectations in March, with the manufacturing purchasing managers index return-ing into expansion territory after three months of contraction, according to the National Bureau of Statistics.

"Growth resilience may surprise on the upside in more aspects," he said, adding that besides a growth rate within a reasonable range, the economy is likely to register accelerated progress toward higher-quality development this year amid a new round of reform and opening-up.

"Structural opportunities (in the capital market) may continuously emerge from the development of the new economy and mass consumption upgrades, fueling the long-term inflow of international capital," he said.

IMF Managing Director Christine Lagarde said in a recent interview with China Central Television that China's economic development now allows for "a focus on quality growth", rather than necessarily quantity growth.

"And China's development is clearly at the stage where it can afford and should afford to do that," Lagarde said.

Over the past year, amid the escalation of US-China trade tensions, credit tightening took place in China, macroeconomic stress was seen in Argentina and Turkey, disruptions to the auto sector occurred in Germany, and financial tightening in larger advanced economies have all contributed to a "significantly weakened global expansion", said IMF Chief Economist Gita Gopinath.

"With this weakness expected to persist into the first half of 2019, our new World Economic Outlook projects a slowdown in growth in 2019 for 70 percent of the world economy," she wrote in a blog on Tuesday.

With improved prospects for the second half of 2019, global growth in 2020 is projected to return to the 2018 level of 3.6 percent, according to the IMF report.

"This recovery is precarious and predicated to rebound in emerging markets and developing economies, where growth is projected to increase from 4.4 percent in 2019 to 4.8 percent in 2020," Gopinath said.

Growing by cutting Tax is not long term growth, Nothing change for CN chaos in 2023 when tariff is 25 %

 

[TaiShang]

Growing by cutting Tax is not long term growth, Nothing change for CN chaos in 2023 when tariff is 25 %

Growth is based on high-end manufacturing and consumption. This is good.

China has a lot of policies that it has not been utilizing to maintain growth. For instance, urbanization is still a trump card China can play.

Many foreigners (Vietnamese are not necessarily foreigners) think of China in terms of absolutes; so, when they see, for example, residence system in China, they think it is an absolute reality.

In fact, policy is to be changed in China; they are never absolute, including residency policy. No wonder, recently, China has announced certain reforms in residency policies, which means, China thinks it is the right time to perhaps increase urbanization by 10%.

This will invite investment and bolster consumption. There you go, China just got another engine for growth.

In other (certain) countries, residency may mean slums.

 

[Viva_Viet]

Growth is based on high-end manufacturing and consumption. This is good.

China has a lot of policies that it has not been utilizing to maintain growth. For instance, urbanization is still a trump card China can play.

Many foreigners (Vietnamese are not necessarily foreigners) think of China in terms of absolutes; so, when they see, for example, residence system in China, they think it is an absolute reality.

In fact, policy is to be changed in China; they are never absolute, including residency policy. No wonder, recently, China has announced certain reforms in residency policies, which means, China thinks it is the right time to perhaps increase urbanization by 10%.

This will invite investment and bolster consumption. There you go, China just got another engine for growth.

In other (certain) countries, residency may mean slums.

If u belive CN still growing, then post it on CN defence forum. Im sure no one will come and read cos we all know Cnese r liars.

Dont force us to read your useless news by posting CN news far east forum, I wanna learn English, so I always read everything in this far east section, other section I dont read cos learning E from here is enough.

 

[LKJ86]

 

[beijingwalker]

If u belive CN still growing, then post it on CN defence forum. Im sure no one will come and read cos we all know Cnese r liars.
.

Lol, we trust you more than IMF

 

[Viva_Viet]

Lol, we trust you more than IMF

IMF can stop 25% tariff to CN ???

If can not, then stop paying money to IMF to write stupid articles or post this stupid thread to the dead CN def forum.

IMF also dont know that due to tax cut, CN coast guard force now have no money to buy fuel to protect CN fishing boats bullied by VN guard ships.

-------------
CN economy is so bad now, so they dont have enough money to keep playing water cannon game wt VN anymore.

CN ships got sprayed by VN guard ship in this month Apr

https://defence.pk/pdf/threads/south-china-sea-forum.196058/page-799

 

[beijingwalker]

IMF also dont know that due to tax cut, CN coast guard force now have no money to buy fuel to protect CN fishing boats bullied by VN guard ships.

lol, China is so poor, I don't even have money to buy the gas to run my car, lol...

 

[Viva_Viet]

lol, China is so poor, I don't even have money to buy the gas to run my car, lol...

Yeah. Do u know that your familiy earned only 300 $ per year in 1979 beofre Deng came to Jap-US and offer azz licking service in 1978 ??

 

[rambro]

IMF can stop 25% tariff to CN ???

If can not, then stop paying money to IMF to write stupid articles or post this stupid thread to the dead CN def forum.

IMF also dont know that due to tax cut, CN coast guard force now have no money to buy fuel to protect CN fishing boats bullied by VN guard ships.

-------------
CN economy is so bad now, so they dont have enough money to keep playing water cannon game wt VN anymore.

CN ships got sprayed by VN guard ship in this month Apr

https://defence.pk/pdf/threads/south-china-sea-forum.196058/page-799

Identify yourself, u are not vietnamese, no vietnamese would defame and degrade their country of origin like u do

I say so hahahahahahah