Sunday, March 20, 2016

Lagarde argues that opening the Chinese economy is essential – Digital Journal

In the China Development Forum, which brings together business and local leaders in Beijing, Lagarde said that China must find more sustainable and advance the “necessary reforms”, according to a statement posted on the IMF’s page.

Lagarde suggests three “mandatory policy” as the opening of the Chinese economy, the reduction of the differences between rich and poor and between urban and rural areas and investment in Research and Development (R & D). These three guidelines are included in the new five-year plan approved by the Chinese authorities last week and will help China to achieve “a higher quality growth, more inclusive and more sustainable” if implemented, he said.

XIII Five-year plan sets out the policies to be pursued by the Government between 2016 and 2020 and seeks to achieve an economic growth of at least 6.5% per year, to double in 2020 the Gross Domestic Product (GDP) and revenue ‘per capita’ that country had in 2010.

Lagarde considered that the transition of the Chinese economy is good for China and the world, but warned that like any transition will “smoothly.”

The plan, approved by the Chinese National Assembly (China’s parliament) seeks to modernize the antiquated Chinese industrial system, especially the oversized public sector, while booking a central place for innovation and designs hand-distribution policies -obra, technology and capital.

Digital Money with Lusa

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