China is the new fastest-growing large economy says the IMF
The Fund has published its report for 2016 growth rates
- Says India shot itself in the foot (there's a lot of that going around) when it cancelled 90% of its cash in circulation
(ps. I'll quit it with the mixed metaphors now)
India's growth slowed to 6.6% in 2016 from 7.6% in 2015
- China's economy grew by 6.7% in 2016
IMF says 2017 growth in India, though, is expected to be 7.2%, which will put it back in front
Then 7.7% projected for 2018
- China forecast is 6.5% in 2017 % 6.0% the following year
(ps. The IMF admits these forecasts are unlikely to be precise)