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China growth beats forecasts in face of trade row, financial risk

BEIJING: China's economy grew more than expected in the first quarter as it withstood headwinds from Beijing's fight against financial risk and pollution, and trade tensions with the United States. While acknowledging the potential negative impact of a US trade war officials on Tuesday warned the country faced greater downside risk at home, citing the need for reforms. The world's number two economy expanded 6.8 percent in January-March, better than the 6.7 percent tipped in an AFP survey of economists and the same as…

IMF raises global growth forecasts, calls for reforms

WASHINGTON: The International Monetary Fund on Tuesday bumped up its global growth forecasts, saying an upswing in the world economy would likely gather pace into next year. But the global crisis lender called on governments to strike while the iron was hot, saying dangers for the current recovery lurked on the horizon and ambitious reforms were necessary for continued poverty reduction. Global economic output should increase by 3.6 percent this year and by 3.7 percent in 2018, up marginally from forecasts…