Economics
IMF Urges China to Tackle ‘High’ Corporate Debt Immediately
- Lipton, No. 2 official, says problem is serious and growing
- China’s challenges are manageable, growth strong, he says
IMF Urges China to Tackle Debt
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The International Monetary Fund’s No. 2 official urged China to take immediate steps to tackle rising corporate debt or risk “dangerous detours” during the country’s transition to a consumption-oriented economy.
“Corporate debt remains a serious -- and growing -- problem that must be addressed immediately and with a commitment to serious reforms,” David Lipton, the IMF’s first deputy managing director, said in a speech to an economics conference on Saturday in Shenzhen, China.