LIMA: The International Monetary Fund (IMF) cautioned on Wednesday (Thursday in Manila) that China faces unprecedented challenges modernizing its economy, carrying risks for the whole world, but a Chinese official brushed off the warning, saying: “Don’t worry.”
China’s effort to transition to a more market- and consumption-based economic model will be a monumental, risk-fraught task that will “require great care,” the International Monetary Fund said in its new review of global financial risks.
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