disorderly

Another possibility: that further labor-market weakness and constantly changing and disorderly government economic policy.

Beijing had previously dismissed concerns from the U.S. and Europe about Chinese overcapacity, but Chinese officials have since embraced “anti-involution” and fighting “disorderly price competition.”

Beijing has been cracking down on excess capacity in some sectors to rein in “disorderly” competition and price wars.

In its semiannual report on financial stability, the IMF wrote: “Risk asset prices are well above fundamentals, increasing the probability of disorderly corrections…Markets appear complacent as the ground shifts.”

Wednesday’s data came after Chinese Premier Li Qiang on Tuesday renewed a call to double down on boosting consumption and reiterated Beijing’s intentions to curb disorderly competition among businesses.