IMF chief Lagarde calls China's economy - ignition electrodees

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"It's normal that (China's) growth rate is a little bit lower than it was a few years back, perfectly legitimate, difficult but manageable," Lagarde said during an interview with Stephen Sackur, host of BBC's HARD-talk, at George Washington University on Thursday.  - air pressure switch

"The Chinese economy is going through a massive transformation," she said. "It's moving from being vastly export driven to being much more focused on the domestic market, it's moving from heavy-industry based toes light industry and predominantly service driven, and it is clearly moving in terms of opening to the rest of the world." - Water Flow Sensor

Lagarde's comments came in response to Sackur's suggestion that "the world is losing its faith in China".

agarde conveyed a similarly positive message during an earlier news conference at IMF headquarters on Thursday morning.

Another key IMF document, Global Financial Stability Report, released on Wednesday, said that "China's financial integration with the rest of world is expected to accelerate, and its financial influence abroad will likely catch up with its economic prowess."

Lagarde seems satisfied that China has followed some of the IMF's advice.

"Some of the structural reforms that we have been advocating are clearly endorsed by the Chinese authority now," said Lagarde, who has beenes re-elected to a second five-year term as managing director of the IMF. - Thermocouple

Lagarde praised China's determination to play an increasingly important role in international organizations like the IMF.

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