The International Monetary Fund has lowered its forecasts for China’s GDP growth said David Lipton, first deputy managing director:
- To 7.75 % in 2013 and 2014
- The cut comes hard on the heels of the IMF’s April forecast of growth at 8% this year and 8.2% 2014
- Lipton said making “decisive” policy changes would put the economy on a more sustainable path.
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Lower growth in China is not a positive for the Australian economy, which exports mining products to China.
