Global EditionASIA 中文双语Français
Business
Home / Business / China US trade tensions

IMF: Tariffs will slash global growth

By Zhou Lanxu and Ouyang Shijia | chinadaily.com.cn | Updated: 2019-09-06 14:22
[Photo/IC]

Additional tariffs between China and the United States, including those implemented already and those announced, if allowed to take effect, could cut global GDP by 0.8 percent in 2020, according to the latest estimate from the International Monetary Fund.

The impact is "quite significant" for the sluggish world economy, said Gita Gopinath, economic counsellor and director of the IMF's research department, at the China Development Forum Special Session in Beijing on Friday.

Global growth was forecast at 3.2 percent in 2019, picking up to 3.5 percent in 2020, according to IMF's World Economic Outlook released in July.

The IMF is scheduled to release updated forecasts of global growth next month and give details of the estimated impacts of tariffs imposed between the world's two biggest economies, Gopinath said.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US