Monday, December 05 2022

The International Monetary Fund (IMF) on October 11, 2022 forecasted global growth to slow from 6 per cent in 2021 to 3.2 per cent in 2022 and 2.7 per cent in 2023. This globally synchronized deceleration stems from a contraction of GDP in the USA in the first half of 2022, a Euro zone contraction in the second half of 2022, persistent real income squeeze on households and demand together with higher mortgage rates. The Chinese economy has been debilitated by the double whammy of rolling lockdowns post COVID-19 outbreaks and a rising property sector crisis.

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