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China heading for ‘financial crisis’ that could have ‘very serious repercussions’ for global economy, IMF warns

Posted on 10 October 2016

‘There is no doubt that a calamity or a problem in China would have very serious repercussions for the global economy,’ says IMF director. China could be heading for a financial crisis due to the level of financial and corporate debt, the International Monetary Fund (IMF) has warned.
Markus Rodlauer, deputy director of the IMF’s Asia-Pacific department, said the level of debt in the Chinese economy was on an “unsustainable path”, adding that a financial problem in China would have “very serious repercussions” for the global economy……………………………………….Full Article: Source


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