China's Property Woes and African Debt Crises Pose Risks to Global Economy, IMF Warns

8 posts • GPT (3)

Updated Oct 15, 2023, 10:16 AM

The International Monetary Fund (IMF) has issued warnings about the impact of China's property market downturn and the debt crises in African countries on the global economy. The IMF economists have expressed concerns that China's real estate sector troubles could erode growth prospects in the Asia Pacific region. They also highlight the potential pressure on rich nations like Saudi Arabia to fill the void left by declining Chinese lending to African nations. The IMF urges countries in sub-Saharan Africa to do more to adapt to slowing import demand caused by China's slowing economy.

These warnings come as China's economy continues to wobble, with lackluster inflation and declining trade numbers. The IMF's analysis puts the risk of 'Japanization' in the spotlight, emphasizing the need for a forceful response to restore confidence in China's real estate market. Furthermore, the IMF calls for international relief to address the funding squeeze in Africa, with up to eight countries requiring debt restructuring. The central bank chief of China claims that the economy and property market have shown signs of improvement, but lingering fears about the property crisis and the inability to revive confidence remain. The challenges posed by China's property woes and African debt crises pose significant risks to the global economy.

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#International Monetary Fund #IMF #China #African #Asia Pacific #Saudi Arabia #Chinese #Africa

Sources

Bloomberg Economics

@economics

Green shoots in China’s economy have been offset by lingering fears about the property crisis and a stubborn inability to revive confidence

Bloomberg

@business

Green shoots in China’s economy have been offset by lingering fears about the property crisis and a stubborn inability to revive confidence

Bloomberg Economics

@economics

China’s economy and property market have shown signs of improvement and local government debt risks are “manageable,” according to central bank chief

Story Timeline

2 years ago•Latest version

IMF Warns of China's Real Estate Downturn Impact on Asia Pacific Growth

2 years ago

China's Property Woes and African Debt Crises Pose Risks to Global Economy, IMF Warns

2 years ago

China's Real Estate Downturn Raises Concerns for Asia-Pacific Growth, IMF Warns

2 years ago

IMF Warns China's Real Estate Downturn Could Impact Asia-Pacific Growth

2 years ago•Original version

China's Consumer Inflation Flatlines as Factory Deflation Persists, IMF Warns of Real Estate Downturn

China's Property Woes and African Debt Crises Pose Risks to Global Economy, IMF Warns

Sources

Story Timeline

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