The US - China debt war reportedly cost the global economy $ 700bn , according to mark Georgieva , head of the International monetary Fund ( IMF ) . Georgieva urged finance ministers and central banks to increase demand for a change in trading policies as new analysis forecasts corporate debt at risk of default could increase to $ 19tn . The IMF would publish 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.