The heads of the International Monetary Fund and the World Bank on Thursday urged the United States and China to cool their dispute and abide…
The heads of the International Monetary Fund and the World Bank on Thursday urged the United States and China to cool their dispute and abide by world trade rules amid globally tumbling share prices, according to the Associated Press.
IMF managing director Christine Lagarde said that while global economic growth remains strong, brutal days for markets in the U. S. and abroad are likely due to interest rates changes in America and uncertainty over trade due to trade disputes between the world’s top two economies.
“Our strong recommendation is to escalate work for a world trade system that is stronger, that is fairer and is fit for the purpose,” she said at the IMF-World Bank annual meeting in Bali.
She added that the U. S. and China exchanging tariffs is not helping the situation and that policies focused on establishing a “dominant position” are incompatible with free and fair trade.
