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IMF urges China to prioritise consumption-led rebalancing, curb industrial policy (www.scmp.com)

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The International Monetary Fund (IMF) has called on China to make the shift to a consumption-led growth model an “overarching priority”, while urging the country to curb what it called “unwarranted industrial policy” amid mounting external imbalances. The IMF staff’s recommendations, issued ahead of Beijing’s annual parliamentary meetings, joined increasingly loud calls for economic rebalancing, particularly after China recorded a trade surplus last year. “China needs to move decisively towards...

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