(Reuters) – U.S. Treasury Secretary Janet Yellen said on Tuesday she has not yet announced any policy by China that would address the low level of consumer spending as part of the economy.
“We believe that increasing consumer spending in China as a percentage of GDP (gross domestic product) is very important, along with measures to address the problems in the real estate sector,” Yellen said at a press conference at the start of the International Monetary Report. Annual meetings of the Fund and the World Bank in Washington. “So far I would say I haven’t really heard any policies from the Chinese side that address this.”
