: It warned that advanced and emerging economies need to continue to support demand with reforms and investment, to ensure that the turbulence in markets and China troubles do not stall economic activity in the rest of the world."China transition to a lower growth, while broadly in line with forecasts, appears to have cross-border repercussions, reflected in weakening commodity prices and stock prices," the IMF said, according to Nine News Australia. In particular it cited "near-term downside risks for emerging economies have increased" from China-related fallout, sinking commodity prices, the strong US dollar, and sharp reversals in financial markets. The IMF says the turmoil in China and other factors like capital flow reversals are increasing the risks to economic growth around the world, in a report for a Group of 20 finance chiefs meeting this week in Ankara. The report, which will be used for discussion at the G20 meeting on Friday and Saturday, did not revise the IMF previous estimate for global growth this year of 3.3 per cent. The report expressed continued confidence that growth is picking up "modestly" in advanced economies in the second half of 2015 and in 2016, helped by the impact of cheaper oil. But earlier this week IMF Managing Director Christine Lagarde said global growth would be "likely weaker" than forecast."Now the situation is changing yet again, and we are all feeling the impact of China rebalancing and moving to a revised business model," she said in Indonesia.
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