China has room to ramp up stimulus if its economy slows further due to the coron...
TOKYO - China has room to ramp up stimulus if its economy slows further due to the coronavirus outbreak, but should not lose sight of structural reforms to address rapid credit growth, a senior International Monetary Fund official said on Wednesday.
Beijing will likely rely more on stimulus measures this year to keep its economy afloat, though the direct boost to growth will be smaller than past fiscal measures that focused on big infrastructure spending, he told a news conference in Tokyo. “ don’t want to deny this event definitely increases the downside risk. Especially the downside risk will be large for countries which have close ties with China,” he said.More than 70% of tourists visiting Hong Kong come from mainland China, while the share of the Chinese among tourists visiting South Korea and Japan was well over 30%, he said.
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