The International Monetary Fund (IMF) sees it essential that China does not back down from its policy of opening up and ending restrictions on zero covid for the country to recover economically and help the overall growth.
“The most important thing is that China stay the course and don’t back down on reopening. And if they stay the course, by the middle of the year China will once again be a positive contributor to average global growth,” the organization’s managing director, Kristalina Georgieva, said in a meeting with the media.
In fact, he specified, since it is “a very difficult fit for China to move practically overnight from significant restrictions on the free movement of people”, how the country adapts to this new situation will be essential.
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Thus, together with the development of Russia’s war against Ukraine, China “is very likely to be the single most important factor for global growth in 2023,” he predicted.
In his last projections published in October, which will be revised later this month and which were made before the president Xi Jinping decided to put an end to his questioned anti-covid policythe IMF predicted that the Asian giant will grow this year by 4.4%.
This data is far from the growth figures for China before the pandemic, but it is higher than the expected world growth data, 2.7%, with a third of the countries entering recession, IMF forecasts.
As he has been warning for months, georgieva He insisted this Thursday that the worst is yet to come and difficult months will come. It will bottom out in the middle of the year and the decline will begin to reverse during the second half of 2023, to see in 2024.”high growth” global.
