IMF's Lagarde Not Worried About China's Economy Despite Stock-market Selloff

By Greg RobbMarketWatch Pulse

China's economy is "resilient" and should be able to withstand sharp moves in the country's stock market, said Christine Lagarde, the managing director of the International Monetary Fund, on Wednesday. "We are still forecasting China [growth] at 6.8%" for 2015, Lagarde said during a press conference. "It certainly is a bit lower than what it delivered lately, but it is a measured slowdown, I think very much under control." The IMF head said there has been a lot of noise about China's stock fluctuations. China's stock market is still up more than 80% relative to a year ago despite the recent selloff, she noted. "We believe that the Chinese economy is resilient and strong enough to withstand that kind of significant variation in the markets," she said.

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