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IMF Calls for A Negotiated Solution to the Trade Dispute Between US and China

WASHINGTON – The United States and China should seek a solution to their differences through negotiations on a multilateral framework, the ongoing trade dispute threatening to curb global economic growth, said Zhang Tao, Deputy Director General of the International Monetary Fund, Reuters reported Tuesday.
Zhang made the remarks by analysing the global economic impact of trade tensions between China and the United States in a recent interview with Chinese Central Television (CCTV) in Washington.
He pointed out that a series of IMF data show that the global economy is suffering the negative consequences of escalating trade disputes between the two sides and urged both parties to work together to reach a settlement.
“In fact, we say that the biggest victim is the global economy, which would be held back by these frictions and tariffs, so we hope that the parties concerned will be able to carry out real communications and negotiations in a multilateral framework in order to find a solution.
“In this way, a well-regulated, transparent and equitable trading system and framework will be put in place, which will benefit the global economy, including the Chinese and US economies,” Zhang said.
In a report released in July, the IMF lowered its global growth forecast to 3.2 percent in 2019 and 3.5 percent in 2020. In addition to the major trade frictions between the two world superpowers, the lingering uncertainty surrounding Brexit was also cited as an important factor in the adjustment.
(Sahar News Monitoring Desk)

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