China faces ‘unprecedented’ economic policy challenge

LIMA: China confronts a monumental and risk-fraught task as it moves toward a more market- and consumption-based economic model, the International Monetary Fund said on Wednesday. As the most important emerging-market economy, China’s rebalancing and deleveraging will “require great care,” the Fund said in its new review of global financial risks. “The Chinese authorities face an unprecedented policy challenge in carrying out their...