The IMF has warned that 'everyone is going to suffer' from the US-China trade clash AFP/BRENDAN SMIALOWSKI US Treasury Secretary Steven Mnuchin had downplayed the global concerns expressed at an International Monetary Fund meeting held this week in Bali under the shadow of US-China tensions, saying the world would benefit if Beijing is forced to changes its trade policies. But the IMF said in a communique that while global growth currently remained "steady", the risks are "increasingly skewed to the downside amid heightened trade tensions and ongoing geopolitical concerns". The Fund kicked off its annual meeting with the World Bank on the Indonesian resort island earlier in the week in a gloomy mood, preoccupied by the trade tussle between the world's two biggest economies, and tightening financial conditions faced by emerging markets. On Tuesday, it cut its outlook for global GDP growth by 0.2 percentage points to 3.7 percent for 2018 and 2019, citing the trade war. "The window of … [Read more...] about ‘Window of opportunity narrowing’ on global growth: IMF
Global growth fund
IMF cuts global growth forecast to 3.7pc for 2018, 2019 as risks rise
China growth is projected to slow to 6.6 percent this year and 6.2 percent in 2019, a downgrade of 0.2 points AFP/STR With trade growth set to slow sharply amid a trade war between the United States and China, the IMF cut its outlook for global GDP by two-tenths to 3.7 per cent for 2018 and 2019, according to the quarterly World Economic Outlook Report issued on Monday (Oct 8). The revised estimates includes a worsening outlook for developing economies this year and next compared to the July report, as well as downgrades for the US and China in 2019. The IMF warns that risks highlighted in previous reports "have become more pronounced or have partially materialized" in the real world. The dominant US economy has been shielded from the ill effects so far due to the stimulus provided through tax cuts and spending policies but that will wear off by 2020. Still, the trade disputes sparked by President Donald Trump that have led to tit-for-tat exchanges of tariffs among major trading … [Read more...] about IMF cuts global growth forecast to 3.7pc for 2018, 2019 as risks rise
IMF cuts global growth forecast to 3.7% for 2018, 2019 as risks rise
An upswing in economic risks due to rising trade tensions and debt levels has prompted the International Monetary Fund to cut its forecast for world growth for this year and next. IMF Managing Director Christine Lagarde last week said ‘the global economic weather is beginning to change.’ Photo: stephen jaffe/imf/handout/epa-ef/EPA/Shutterstock With trade growth set to slow sharply amid a trade war between the United States and China, the IMF cut its outlook for global GDP by two-tenths to 3.7 percent for 2018 and 2019, according to the quarterly World Economic Outlook Report issued Monday. The revised estimates includes a worsening outlook for developing economies this year and next compared to the July report, as well as downgrades for the US and China in 2019. The IMF warns that risks highlighted in previous reports "have become more pronounced or have partially materialized" in the real world. The dominant US economy has been shielded from the ill effects … [Read more...] about IMF cuts global growth forecast to 3.7% for 2018, 2019 as risks rise
Hammering of copper price a worrying signal for global growth
They see it as a bad signal for the global economy. The red metal has acquired the sobriquet Doctor Copper for its ability to take the temperature of the world economy. Why trust Dr Copper? Doctor Copper is able to tell when the world economy is going to get sick or get better because of the ubiquity of copper in the modern copper. It is used in plumbing, heating, electrical and telecommunications wiring. "Trains, planes and automobiles are full of copper, so too are homes and appliances," said Russ Mould, investment director at AJ Bell. So, it is hard to imagine economic growth without copper, and the market price of the metal reflects fluctuations in demand. Economists at the Bank of England who monitor the global growth to set monetary policy said on their blog that for them it "is crucial to assess what is happening in the world economy in real time or 'nowcast' economic activity." Copper prices provide such a real time signal. How good are his diagnoses? Last year's acceleration … [Read more...] about Hammering of copper price a worrying signal for global growth
IMF sees emerging Asia as top global growth engine
The IMF said Tuesday it remains upbeat about the economic prospects of emerging Asia, labelling the region "the most important engine of globalgrowth" despite concerns over trade disputes and mounting debt. A farmer working in a paddy field in the outskirt of Hanoi - Photo by AFP The International Monetary Fund's latest quarterly World Economic Outlook forecasts global growth of 3.9 percent this year as the world economy hums along and nations retain supportive fiscal policies. The fastest-paced expansion will remain concentrated in Asia, it predicts, where the buoyant economies of China, India and a host of Southeast Asian nations will perform well above the global average. The IMF left unchanged from January its growth estimate for China of 6.6 percent for 2018 and 6.4 percent in 2019. The country's own 2018 target is around 6.5 percent. China reported Tuesday that its economy had grown 6.8 percent in the first quarter, maintaining the same pace as the fourth quarter. … [Read more...] about IMF sees emerging Asia as top global growth engine