The International Monetary Fund has warned slower growth in China and continuing stock market uncertainty pose a threat to global economic growth. China’s slowdown appears to have bigger repercussions for other countries than had been expected. The troubles in China have sent the prices of commodities such as oil and copper sliding. The falls have hit exporters of commodities, such as Brazil and Russia, particularly hard.
The IMF’s warning comes ahead of a meeting of G20 Finance Ministers and Central Bankers in Ankara tomorrow and Saturday. The IMF said that the problems could lead to much weaker outlook for global growth. However, the fund still expects the global economy to expand by 3.3 per cent this year, slightly lower than 3.4 per cent in 2014. The IMF called on China to keep reforming its economy despite the recent falls in the stock markets on the mainland.