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Hard landing unlikely for 'poorly understood' China: IMF chief

Published on Feb 20, 2014 5:02 PM
 
IMF chief Christine Lagarde (left) said on Thursday that China was unlikely to suffer a hard landing, describing it as a "poorly understood and poorly interpreted" economy that took a cautious approach to growth. -- PHOTO: AFP

SYDNEY (AFP) - IMF chief Christine Lagarde said on Thursday that China was unlikely to suffer a hard landing, describing it as a "poorly understood and poorly interpreted" economy that took a cautious approach to growth.

The International Monetary Fund expects China's economy to expand 7.5 per cent in 2014, but subdued inflation and manufacturing data has fuelled concern about a slowdown in the world's second-largest economy.

A windback in stimulus by the US Federal Reserve and subsequent exit of capital from the emerging economies has amplified anxieties about the global implications of such a move.

But Ms Lagarde was upbeat on the Asian giant at a public question and answer session in Sydney on Thursday before this weekend's meeting of G20 finance ministers and central bankers.

 
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