When The Hockeystick Breaks: The IMF Gives Up On China Growth
Earlier we showed that despite its 16th cut to world GDP growth forecasts (out of the past 21), the IMF still believes that the hockeystick rebound to global growth is just around the corner:
However, one place where not even the IMF can in good conscience predict a hockeystick-like rebound in growth, is China, where the IMF now expects GDP to grow only 6.3% in 2016, dropping to an even lower 6.0% in 2017.
This is what the IMF warned about the risks to its overall outlook, which not surprisingly are focused on China: