OECD Cuts China 2019 GDP Outlook Amid Risks From Debt, Housing

China’s growth will likely slow to 6.2 percent this year and 6 percent in 2020, as more of the economy shifts toward consumption and services, according to a biennial report by the Organization for Economic Co-operation and Development, Bloomberg News reported. OECD estimated 2019 expansion would be 6.3 percent in an outlook published last year. China faces risks "tilted to the downside," including large-scale corporate defaults, a collapse of housing prices and rising geopolitical tensions, the OECD wrote in its economic survey on China published Tuesday. Further escalation of trade tensions will take a toll on exports and overall growth, and likely trigger depreciation pressure on the yuan. Additional stimulus measures will result in stronger growth in the short term but larger imbalances later. Read more