Head of the IMF. In late 2025 she said China's real exchange-rate depreciation had "worsened external imbalances", and urged the country to rebalance its economy by boosting domestic consumption. Pierre-Olivier Gourinchas, the IMF's chief economist, urged China to spend more on cleaning up the property sector and less on manufacturing subsidies.
Dealing with failure is easy: Work hard to improve. Success is also easy to handle: You've solved the wrong problem. Work hard to improve.