Wealth management products have become enormously popular in China. In 2016, the business was worth $4.4 trillion. The assets promise high returns, but authorities say the potential losses could be huge.
High levels of corporate, government and household debt are undermining China’s financial stability, the IMF said in a report. It urged Beijing to halt credit-fueled growth and bulk up on banks' capital reserves.
At the current meeting of the World Trade Organization, the top US trade representative has launched a broadside at the trade body's 164 members, saying they seek litigation instead of negotiations to obtain advantages.
Although European economies have experienced a steady upswing in recent years, not enough has been done to prepare for a rainy day, the IMF has said in a fresh outlook. It cited a number of risks to be aware of.
In its latest assessment and forecast for the world economy, the International Monetary Fund has been the bearer of some rare good news. Yet, while the global economy is enjoying strong growth, challenges remain.
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