NEWS： The IMF welcomes the easing of trade tensions between China and the US
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IMF Managing Director Georgieva said she was encouraged by the news that China and the United States reached a preliminary trade agreement last week, but urged the world's two largest economies to work towards a lasting "trade peace."
Georgieva told reporters at the annual meetings of the IMF and the world bank that she called on all countries to work together to reform the World Trade Organization (WTO), better regulate the field of e-commerce and services, and ensure a more peaceful and prosperous world.
She added that ending trade tensions is a positive step for China and the United States and will contribute to global economic growth.
The IMF estimates that a preliminary trade agreement reached last week between Washington and Beijing could reduce the damage to the global economy caused by tit for tat tariffs in the past 15 months. Mr Georgieva said the drag on global growth from the initial trade agreement could be limited to 0.6 per cent, compared with the previous estimate of 0.8 per cent.
But the Bulgarian economist, who is also the first IMF chief from emerging markets, said that in addition to the possible first phase of a trade agreement, the two sides need further efforts.
"What we want to see is not just a small boost in global economic growth," she added. "We want a bigger acceleration in world economic growth, and for that we need more than that."
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