China slowdown ‘normal’ but bumps ahead

DAVOS, Switzerland: International Monetary Fund (IMF) chief Christine Lagarde said over the weekend China’s slowdown, which has spread fear on global finance markets, is “very normal” but the road ahead will be bumpy.

Lagarde told the World Economic Forum in the Swiss ski resort of Davos that China’s transition to an economy led by consumer demand instead of state investment was unlikely to lead to a “hard landing” for the world’s second-largest economy.