For much of the global economy, 2023 is going to be a tough year as the main engines of global growth - the United States, Europe and China - all experience weakening activity, the head of the International Monetary Fund said on Sunday.
The new year is going to be "tougher than the year we leave behind," IMF Managing Director Kristalina Georgieva said on the CBS Sunday morning news program "Face the Nation."
"For the first time in 40 years, China's growth in 2022 is likely to be at or below global growth," Georgieva said. "For the next couple of months, it would be tough for China, and the impact on Chinese growth would be negative, the impact on the region will be negative, the impact on global growth will be negative," she said.
The "U.S. is most resilient," she said, and it "may avoid recession. We see the labor market remaining quite strong."
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