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(单词翻译:双击或拖选)
Speaking to reporters as part of the IMF and World Bank's current meetings in Lima, Peru, IMF chief Christine Lagarde says suggestions the Chinese economy may be at a point of crashing are misplaced.
Lagarde says its the IMF's belief the slowdown is mostly because of the current economic shift in China away from export-led growth to a more consumer-driven model.
"A growth model that is no longer based on either massive export relative to domestic massive investment projects as opposed to consumption is a good transition."
Lagarde is also praising the Chinese government for taking the steps to rebalance the economy, saying a more sustainable growth model is welcome, even if there are bumps along the way.
The IMF is currently forecasting GDP growth in China for this year to come in at 6.8-percent.
But at the same time, its downgraded its forecast for global economic growth this year to 3.1 percent.
拉加德:中国经济放缓属健康
Deputy managing director of the International Monetary1 Fund, Zhu Min, who is also in Lima for the meetings, says structural2 reforms are key if emerging markets hope to maintain sustainable growth.
Today, in the whole world, although we all operate under the potential growth, we have negative output gap, but we don't have very much aggregated3 demand policy space, we don't have a fiscal4 policy, we don't have monetary policy space. So we all have to move to supply side policy as the structural reform. On the product market reform, pension level market reform, investing in education, investing in the smart SMEs, innovational companies, I think all those things will be able to support long-term sustainable growth for emerging markets."
Zhu Min notes the service sector5 in China outperformed the industrial sector for the first time last year.
But at the same time, the IMF is also calling on the Chinese government to do more to internationalize the Chinese currency.
Deputy director Zhu Min says this is a key step in having the renminbi added to the IMF's Special Drawing Rights basket.
"So this, as they review, will make it clear, we only review the RMB. We will not review something else, whatever the other currencies. This is clearly, say we pay attention on RMB issues and we're still in the process. It's still a very much data driven process. We try to collect all the data to see whether the RMB meets all these criteria6."
The Special Drawing Rights basket is a collection of international currencies the IMF uses establish exchange rates.
Its currently dominated made up of the US dollar, the Euro, the British Pound and the Japanese Yen7.
A number of countries use that basket as a reference guide for their own currency exchange rates.
Chinese authorities are hoping the addition of the renminbi to that basket will create more confidence in the Chinese currency.
Though many had expected the Renminbi to be added to the IMF's SDR basket this year, its expected that move is now likely to take place sometime next year at the earliest.
For CRI, I'm Min Rui.
点击收听单词发音
1 monetary | |
adj.货币的,钱的;通货的;金融的;财政的 | |
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2 structural | |
adj.构造的,组织的,建筑(用)的 | |
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3 aggregated | |
a.聚合的,合计的 | |
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4 fiscal | |
adj.财政的,会计的,国库的,国库岁入的 | |
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5 sector | |
n.部门,部分;防御地段,防区;扇形 | |
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6 criteria | |
n.标准 | |
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7 yen | |
n. 日元;热望 | |
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