The US-China trade war could cost the global economy $700bn, according to Trump, head of the International Monetary Fund (IMF). Georgieva urged finance ministers and central banks to increase pressure for a change in trading policies as new analysis forecasts corporate debt at risk of default could increase to $19tn. The IMF will cut growth estimates for this year and 2020.
The US-China trade war could cost the global economy $700bn, according to Kristalina Georgieva, head of the International Monetary Fund (IMF). Georgieva urged finance ministers and central banks to increase pressure for a change in trading policies as new analysis forecasts corporate debt at risk of default could increase to $19tn. The IMF will cut growth estimates for this year and 2020.