US-China tensions threat to world economy: IMF chief
08, May 2019
Prelims level : India, China Trade relations. Mains level : How Us, China affects world economy? Evaluate.
- Expressing concern over fresh trade tensions between the United States and China, International Monetary Fund chief Christine Lagarde has said that the tensions between the US and China are the main threat to the world economy.
- Speaking at a conference in Paris, Lagarde said, recent tweets and rumours make it clear that an agreement between the two countries is less likely.
- US President Donald Trump announced on Sunday that tariffs already imposed on 200 billion dollar in Chinese exports to US would more than double to 25 per cent on Friday from the current level of 10 per cent.
- Meanwhile, China has said that its top trade negotiator will visit the US for talks with his American counterparts this week