IMF right to decry US shift from rules-based trade

The IMF's downgrading of its global growth forecast for next year, the first time in more than two years, highlights the downside risks to global growth have risen as a result of the trade disputes instigated by the United States.

The organization said on Monday that the global economy will grow by 3.7 percent this year and next, down from the 3.9 percent projection in its previous forecast.

Notably, while lowering its forecast for China's growth to 6.2 percent in 2019 from its earlier 6.4 percent, the fund also cut its forecast for US growth for next year to 2.5 percent from 2.7 percent.