Where are we Going? IMF: Digital, ecology key to even recovery

Hold on to something hard, broad and tall!! Dear Father Joe will lead us to merriment. The IMF is telling China what to do and Joe's along for the ride.

Basically the IMF told China to:
1) Continue moving to a Digital financial system
2) Embrace the New Green Deal
3) and provide universal basic income.

This is where we are going. Get used to it


WASHINGTON－Digital economy and green investment will help secure China's balanced recovery from the COVID-19 pandemic, a senior official at the International Monetary Fund said recently.

"In China, just as in many other countries, we have seen the pandemic accelerating ongoing trends of sales migrating online and more opportunities working from home," Helge Berger, the IMF's China mission chief and assistant director in the Asia and Pacific Department, said in a written interview.

"This has mitigated some of the economic impact of the pandemic. Digital technologies have also been used to make policy support to vulnerable households and firms more effective," Berger said, adding that digitalization has been a helpful development during this difficult crisis.

China is stepping up efforts to develop the digital economy and increase investments in "new infrastructure" such as 5G networks and data centers, which is expected to bring new driving forces for economic recovery from the pandemic.

"Following the large investment efforts of past decades, China faces diminishing returns from traditional infrastructure investment. However, there is ample scope for green investment and smart infrastructure," Berger said, noting these are areas where public investment can do the most to "ensure a balanced recovery".

[link to www.chinadailyhk.com (secure)]

Last Edited by midijeep on 01/22/2021 10:45 PM