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The Future of Asia 2023

China needs new growth model, former IMF official Zhu Min says

Ex-deputy managing director urges resilient supply chains that welcome 'everybody'

Former International Monetary Fund Deputy Director Zhu Min speaks at Nikkei's Future of Asia conference in Tokyo on May 25. (Photo by Yuki Nakao)

TOKYO -- China should seek more consistent economic growth by expanding domestic consumption, advancing manufacturing and becoming environmentally sustainable, Zhu Min, a former deputy managing director of the International Monetary Fund, said on Thursday.

Zhu told Nikkei's Future of Asia forum that the current model -- with its significant focus on investment, the real estate market and exports -- "does not work well at all."

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