The International Monetary Fund’s No. 2 official urged China to tamp down expectations for growth and focus instead on addressing weaknesses in the financial and real-estate sectors.
China should aspire “to what you might call medium-high growth,” IMF Deputy Director David Lipton said Thursday in Beijing, where he was conducting an annual review of China’s economy.
“China should not always try to have the fastest possible growth but should have the fastest sustainable growth,” he said, in what would be a big change from China’s long-running philosophy of developing the economy as rapidly as possible.
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