NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
IMF chief warns global trade in danger

By Jim Randle on 12/04/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 469

•IMF MD Christine Lagarde
•IMF MD Christine Lagarde

 

The head of the International Monetary Fund is warning that the global trading system is in danger of being “torn apart.” 

In a speech prepared for delivery in Hong Kong Wednesday, Christine Lagarde urged nations to “steer clear of protectionism.” That may be a reference to Washington’s recent moves to slap large tariffs on imported steel and other products. China responded by raising tariffs on U.S.-made products, beginning a cycle that some experts warn could escalate further into a trade war. 

Lagarde says the benefits of trade far outweigh the costs and has credited unfettered global trade for drastically reducing the number of people around the world living in extreme poverty. Lagarde and other experts say everyone loses in trade wars, particularly the 800 million people around the world who, the World Bank says, remain mired in poverty.

While Lagarde’s comments implied criticism of the Trump administration, she also urged nations, presumably including China, to do a better job of protecting intellectual property. President Trump and many foreign businesses operating in China have complained that they are pressured to turn over technology secrets to Chinese partner companies in exchange for access to the huge Chinese market. She also urged economic reforms, including ending policies that unfairly favor state-owned enterprises.

Lagarde says the global economy is experiencing a strong upswing, and says now is the time for nations to make economic reforms such as opening up the service sector in developing economies, and doing more to use digital technology to improve the delivery of government public services. She warns that economic reform is more urgent now because of the growing uncertainties arising from trade tensions, uncertain geopolitics and rising fiscal and financial risks.

Lagarde’s speech comes ahead of next week's meetings of the International Monetary Fund and World Bank in Washington, where top economic and financial leaders and experts from around the world will gather to seek solutions to problems in banking, trade, deficits and many other topics. (VOA)

Source News Express

Posted 12/04/2018 12:01:50 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Navy conducts mock anti-piracy rescue operations to mark...

Missing link in PR Measurement, By Austin Ayaosi...

Deadly gas explosion in Ghana

2015 elections to be postponed; Presidency gives reasons...

IROKO all the way!: DOUBLE VICTORY FOR MIMIKO...

Kaduna killings: CAN indicts Buhari, El-Rufai •Alleges ethnic...

Police to restore Tambuwal's security

Saraki invites child comedienne Emmanuella to the Senate...

Troops nab 4 Niger Delta Avengers militants; seize...

Police Service Commission promotes 9,973 officers

Pandemonium as policeman shoots 3 in Ilorin

Senate President, Speaker, deputies’ new residences to gulp...

 

Latest News UPDATE: Dino Melaye injured in escape bid, rushed to hospital 2 Catholic priests, 14 other worshipers dead as herdsmen unleash fresh mayhem in Benue •How it happened — Police Breaking News: Pandemonium as thugs shock police, whisk away Senator Dino Melaye Intrigues as APC picks Abuja for convention •Oyegun, Oshiomhole divide South South APC No restructuring, no 2019 election, Ijaw youths warn •Vow to stop oil flow in the region Imo APC group issues ultimatum to Okorocha El-Rufai charges incarcerated Sheikh Zakzaky and wife to court APC National Chairmanship Battle: South South Chairmen reject Oshiomhole, insist on Odigie-Oyegun Army kills armed robbers in Ibadan Falana calls for Buhai’s probe over $469m ECA scandal Switzerland returned $322.5m Abacha loot with interest — Envoy Troops waste 6 bandits terrorising Kogi

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (339,814 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (334,820 views) Shameless Genevieve Nnaji exposes breasts in public (267,921 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (220,321 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (202,172 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (198,238 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (172,942 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (155,293 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (147,187 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (139,116 views) Lagos plane crash: Journalist releases victims’ names (136,969 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (129,650 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (36) Business & Economy (3,069) Business Verdict (40) Columnists (836) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (483) Features (569) Global Business Monitor (264) International (1,926) Interview (149) Live Commentary (28) Love Matters (116) News (34,717) Opinion (916) Pidgin (10) Politics (4,810) Religion (724) Sports (1,485) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

NLNG Science and Literature Prize Awards

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement