Economics
China Growth Likely to Slip Below 6% by ’21, ANZ’s Yetsenga Says
- Blames ‘inexorable structural slowdown’ for cooling of economy
- China will probably ‘sneak a little rate cut’ if Fed does so
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China’s economic growth will likely decelerate to below 6% in 2021 as part of an “inexorable structural slowdown” that’s being hastened by a sluggish global economy, Australia & New Zealand Banking Group Ltd. says
ANZ Chief Economist Richard Yetsenga pointed to the International Monetary Fund’s downgrade of the world economy’s outlook to buttress his argument. He noted in an interview with Bloomberg Television in Sydney Wednesday that the fund shaved 0.1 percentage point from its China forecast in 2019 to 6.2%, the weakest expansion since the series began, and to 6% in 2020.