Carlo Cottarelli and China Stock Markets

China: Monetary policies have been very expansive in recent years and an adjustment is necessary, said Carlo Cottarelli, an IMF executive director representing countries such as Italy and Greece on its board, according to Euro News. It totally premature to speak of a crisis in China, he told a press conference. Fresh evidence of easing growth in China hammered global stock markets on Friday, driving Wall Street to its steepest one-day drop in nearly four years. He reiterated an IMF forecast for a 6.8 percent expansion in the Chinese economy this year, below the 7.4 percent growth achieved in 2014. China stock markets have fallen more than 30 percent since mid-year. China real economy is slowing but it perfectly natural that this should happen … What happened in recent days is a shock on financial markets which is natural, he added. (news.financializer.com). As reported in the news.