IMF Prescription for US and Chinese Economies

IMF Chief Kristalina Georgieva said on Wednesday that the US cannot escape its growing public debt without cutting taxes or spending, while China must shift from export-led growth toward greater domestic consumption.

International Monetary Fund chief Kristalina Georgieva said on Wednesday that the United States cannot get out of its soaring public debt without cutting taxes or spending, while China must shift from export-led growth to more domestic consumption.