The trade war between the U.S. and China could mean the loss of around $700 billion for the global economy by 2020, the new head of the International Monetary Fund said Tuesday.
The IMF has been warning of trade disputes ever since the Trump administration took office but now “we see that they are actually taking a toll, Georgieva said.“Even if growth picks up in 2020, the current rifts could lead to changes that last a generation — broken supply chains, siloed trade sectors, a “digital Berlin Wall” that forces countries to choose between technology systems,” Georgieva said.
Georgieva’s comments came ahead of the IMF/World Bank annual meetings, set to take place later this month in Washington. “In 2019, we expect slower growth in nearly 90% of the world. The global economy is now in a synchronized slowdown,” Georgieva said.
Why are these weird, spooky women always head of IMF?
Costing US companies more. Stealing technology, AI, patents, copy rights and will not allow 100% foreign ownership. Stop blaming USA. China is the criminals.
Trump could care less! He has a tee time to make