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MNI INTERVIEW2: China Property Crisis To Drag On -IMF's Adrian

(MNI) WASHINGTON

China's property market looks more like Japan's in the early 1990s than that of the U.S. in 2008, the IMF's Tobias Adrian says.

China's property sector problems are likely to be protracted and domestic demand will remain subdued unless a viable alternative to the housing market as the engine of growth is found, IMF financial counselor and director of its monetary and capital markets department Tobias Adrian told MNI.

The IMF expects Chinese growth to slow to 4.6% in 2024 and 4.1% in 2025 from 5.2% last year, according to its latest World Economic Outlook report released Tuesday. That's unchanged from the October outlook even as the global picture has improved.

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China's property sector problems are likely to be protracted and domestic demand will remain subdued unless a viable alternative to the housing market as the engine of growth is found, IMF financial counselor and director of its monetary and capital markets department Tobias Adrian told MNI.

The IMF expects Chinese growth to slow to 4.6% in 2024 and 4.1% in 2025 from 5.2% last year, according to its latest World Economic Outlook report released Tuesday. That's unchanged from the October outlook even as the global picture has improved.

Keep reading...Show less