The US-China trade war could cost the global economy $700bn, according to Kristalina Georgieva, head of the International Monetary Fund (IMF). In a speech in Washington on Wednesday, Ms Georgieva said that while she was not surprised by Mr Trump's decision to impose tariffs on Chinese imports, it would be "catastrophic" if they were imposed unil@@ 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.