China 

New IMF report doesn’t back Donald Trump’s currency manipulation charge against China

This story is published in a content partnership with POLITICO. It was originally reported by Doug Palmer on politico.com on August 9, 2019.The International Monetary Fund on Friday provided little or no support for US President Donald Trump’s assertion that China is manipulating its currency for an unfair trade advantage.In an annual review of China’s economic policies, the IMF said Beijing actually took steps last year to prop up the value of its currency after the renminbi declined against… Source link

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Home 

Next IMF chief must stand up to Trumpian protectionism, but need not be European

Rarely has the need to select a new head of the International Monetary Fund on merit been greater than now, and yet the usual manoeuvring to ensure that the job goes to someone of European nationality continues. As a result, potentially strong candidates from, say, China or Japan and elsewhere in and beyond Asia are sidelined.Christine Lagarde is stepping down after eight years at the helm of the IMF to head the European Central Bank, which will benefit from her presence – as will Europe as a… Source link

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Global 

US-China trade war caused ‘self-inflicted’ damage to the global economy, says IMF after third 2019 forecast cut

China’s trade war with the United States has caused “self-inflicted” damage that has already made global growth “sluggish and precarious” and could create further financial vulnerabilities by depressing both consumer and business sentiment, the International Monetary Fund has warned.The Washington-based organisation revised its 2019 global growth forecast down to 3.2 per cent, 0.1 percentage points below its previous outlook released in January, and the third cut in its forecast for this year… Source link

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Global 

China’s handling of yuan backed by IMF despite Donald Trump’s repeated charges of currency manipulation

Despite repeated accusations of currency manipulation from US President Donald Trump, the International Monetary Fund has found that in 2018, Beijing’s handling of the Chinese yuan was “broadly in line” with the state of its economy.The Washington-based fund, which is bracing for the departure of managing director Christine Lagarde in September, also lashed out at the impact of the US-China trade war, which is “weighing on global trade and investment, without materially affecting [trade]… Source link

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China 

China’s 2019 economic growth forecast cut by IMF as risks and uncertainties of US trade war remain

China’s 2019 economic growth forecast has been cut from 6.3 per cent to 6.2 per cent by the International Monetary Fund with the world’s second largest economy still facing downside risks and uncertainty over the trade war with the United States.The downgrade came after the fund paid a visit to Beijing and the western province of Guizhou for intensive discussions with Beijing’s policymakers during its annual assessment of the country’s economic and financial health. It was merely two months… Source link

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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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