The International Monetary Fund is warning that a sharp downturn in Europe could cut China s growth rate by nearly half. The IMF said Beijing should be ready to launch a stimulus to offset the impact of weakening growth abroad if European growth falters due to the continent s debt crisis. The Washington-based body is forecasting 8.2 percent growth for China this year but says that could fall by up to 4 percentage points if Europe s crisis results in large reductions in output. World Bank, the IMF s sibling organization, told China and other developing countries last month they should prepare for a possible global slowdown that it warned might hit them harder than the 2008 economic crisis.
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