US President Joe Biden meeting with Chinese President Xi Jinping was ‘very constructive’ signal This may relieve trade Tensions between the world’s two largest economies, Kristalina Georgieva, said today, Wednesday, the Managing Director of the International Monetary Fund, China.
leaders of Major economies issued “strong call” for The end of the Russian war in ukraine, in Part of it is because conflict is the single biggest slowing factor global growth, Georgieva told Reuters as the controversial G20 summit ended.
But the Biden-Xi meeting sent “a very important message to Mr world that international Cooperation is important for All of us Georgieva said.
She noted that the International Monetary Fund warned against this growth He will suffer if he is world Fragments in geopolitical blocs led by the United States and Western allies on one side China and other state-led economies on other, with competing technology And other criteria. That would reduce global The fund estimates gross domestic product at about $1.4 trillion to $3.5 trillion.
“Just imagine what world He can with This type of money, Georgieva said.
Tariffs imposed by the United States former President Donald Trump in 2018 on hundreds of Billions of dollar worth of American consumers and businesses have largely tolerated Chinese goods. In October 2019, the International Monetary Fund blamed the United States and China trade war for cutting global growth to the slowest pace for a decade.
“And at one time of High inflation, Georgieva said, is the least he desires of definitions. Also, China understands that there has to be dependence on Cooperation because we see the Chinese economy Universe in A very difficult spot.”
The G20 leaders expressed concern about the deterioration of the situation debt Situation in Some middle-income people countriesa statement was “an acknowledgment that more “It must be done,” Georgieva said, adding that fixing these things steps It was hard.
I called the International Monetary Fund for more Predictability in restructuring process, for countriesthis quest help Under the G-20’s common debt Restructuring framework to allow it to suspend service of Their debts include poor middle income countries like Sri Lanka.
Georgieva said she was glad to see her language in Invitation to the joint statement of the leaders of the Group of Twenty for Central banks to calibrate pace of their interest rate Rises to avoid repercussions on others countries. This was due to the high rate of inflation up in Many emerging market economies because of the dollar’s tremendous power.
I was asked if she saw evidence of Inflation is receding in the US given the recent data showing a decline price She said it waspossible,” but more The data was needed to determine the trend.
However, the indicators appear “more bleak” path for The world economyMeaning, it’s slowing down down At that point, the Fed can reassess.” demand Cool down, she said.