WASHINGTON: The International Monetary Fund’s (IMF) 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 the text of a speech to an economics conference in Shenzhen, China.
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