Global 

American consumers are ‘unequivocally the losers’ in US-China trade war, says IMF

Consumers in the United States “are unequivocally the losers” from the trade war with China, according to new research by the International Monetary Fund, which outlines the damage the long-running dispute is doing to both sides.The research, published on Thursday, found that “tariff revenue collected has been borne almost entirely by US importers”. Extrapolating that further, the International Monetary Fund (IMF) found that “some of these tariffs have been passed on to US consumers”,… Source link

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China 

US-China trade war could push Macau’s growth below 4 per cent this year, IMF warns

The escalating trade war between China and the United States could further dampen growth in Macau, the International Monetary Fund has said.The gambling hub is already suffering from the slowdown in the mainland’s economy and efforts to curb big-money betting, but the trade war “has the potential to drag Macau SAR’s growth below our medium-term projection of about 4 per cent”, Mariana Colacelli, the IMF mission chief for Macau, said.In a report released last Friday, the fund projected that… Source link

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Vietnam 

Outlook for Việt Nam’s economy remains sound in 2019: IMF – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Consumers shop at a supermarket in HCM City. IMF forecast inflation to pick up slightly in 2019 due to price increases. — VNA/VNS Photo HÀ NỘI – The outlook for Việt Nam’s economy remains sound, aided by its strong fundamentals, diversified trade structure and the authorities’ commitment to macroeconomic stability and private sector-led growth, according to the International Monetary Fund (IMF). “The trade tensions and financial volatility affecting emerging economies in 2018 were also felt in Việt Nam’s highly open economy, including through a stock market correction. Nevertheless, the economy…

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China 

China’s growth forecast for 2019 raised by IMF, despite trade war and global downturn

The US-China trade war will have less impact on the Chinese economy than initially thought, with the International Monetary Fund increasing its growth forecast for the country this year.The International Monetary Fund (IMF) now forecasts that China’s economy will grow by 6.3 per cent in 2019, up 0.1 per cent on its last prediction. This is despite the fact that the fund downgraded its growth outlook for most major economies, as well as the global economy, amid a series of headwinds.In an effort… Source link

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China 

US-China trade war will not reduce trade deficit, IMF finds, in rebuke of Donald Trump’s tariff policies

US President Donald Trump is desperate to reduce his country’s trade deficit with China, but according to the International Monetary Fund, the punitive tariffs he has launched on Beijing will not work.In a new report released on Wednesday, the International Monetary Fund (IMF) said that countries looking to reset trade imbalances should address their own macroeconomic issues instead of launching barriers to trade.“Attempts to target one bilateral trade balance through tariffs or other… Source link

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Home 

IMF cuts forecast for global economic growth in 2019 amid trade tensions

The International Monetary Fund has cut its forecast for world economic growth this year, citing heightened trade tensions and rising interest rates in the United States. The IMF said on Monday it expects global growth this year of 3.5 per cent, down from 3.7 per cent in 2018 and from the 3.7 per cent it had forecast for 2019 in October. “After two years of solid expansion, the world economy is growing more slowly than expected and risks are rising,” said Christine Lagarde, the IMF managing director, as she presented…

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Property 

IMF endorses Hong Kong’s wait-and-see housing policies as property prices have room to fall

The International Monetary Fund (IMF) has endorsed the Hong Kong government’s wait-and-see stance before taking any further actions to offset the risk of a fall in housing prices. In particular, the IMF said that the government policies to moderate housing prices, including the stamp duty on new home purchases, should remain in place for now, and only be phased out when the risk of a further rise in housing prices has dissipated. Hong Kong first implemented a stamp duty in 2010 to slow speculation housing sales. Three additional stamp duties…

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Global 

IMF urges China’s central bank to improve communications to ensure financial stability

China’s central bank must improve its communications with market players to ensure financial stability as the country opens its capital markets further to foreign investors, representatives from the International Monetary Fund (IMF) have urged in a working paper published over the weekend. “China is at a communications crossroads, driven both by domestic and increasingly external factors,” wrote IMF chief China representative Alfred Schipke, Oxford Professor Michael McMahon and Professor Li Xiang from Germany’s Halle Institute for Economic Research. “Better communication will become paramount to improving the effectiveness of monetary policy,…

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China 

US-China trade war casts long shadow over IMF meeting

Anxiety about the outlook for the global economy ran high at the meeting of global financial policymakers in Indonesia this week, given uncertainties about how far the US-China trade war would escalate and how long it would last. Officials and their advisers attending the annual meetings of the International Monetary Fund and World Bank in Bali admitted that the unprecedented nature of the trade conflict took policymakers deep into uncharted territory in terms of predicting its economic impact, both short-term and long-term. Attempt to isolate China from world trade system…

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Money 

IMF chief Lagarde dismisses idea Beijing is manipulating the yuan as Washington turns up the heat

International Monetary Fund chief Christine Lagarde has dismissed the idea that China is manipulating its currency to gain a competitive advantage, giving verbal support to Beijing as Washington reiterates its concerns about the yuan’s exchange rate. Lagarde’s remarks on Thursday came just a day after US Treasury Secretary Steven Mnuchin warned China not to engage in a competitive devaluation of its currency. Mnuchin was quoted by the Financial Times on Wednesday as saying that the Treasury monitored currency issues “very carefully” and that the Chinese yuan, also known as renminbi, had…

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