Chinese President Xi Jinping and US President Donald Trump. Photo: AFP

US-China trade war will not reduce trade deficit, IMF finds, in rebuke of Donald Trump’s tariff policies

  • International Monetary Fund report says countries looking to reset trade imbalances should address issues in their own economies instead of implementing tariffs
  • Dense academic text does not directly refer to the US president, but appears to be a subtle rebuke to his views on trade
Topic |   China economy

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Chinese President Xi Jinping and US President Donald Trump. Photo: AFP
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The Asian Development Bank downgraded the growth forecasts for Asia to 5.7 per cent this year and 5.6 per cent next year, down from 6.2 per cent in 2017 and 5.9 in 2018. Photo: AFP

US-China trade war is the ‘biggest threat’ to Asian economies as growth forecasts slashed

  • The Asian Development Bank has cut its growth outlook for Asia, blaming sluggish demand and the trade tensions between China and the United States
  • Report by chief economist Yasuyuki Sawada came a day after the World Trade Organisation reduced its global trade growth forecasts due to the trade conflict
Topic |   US-China trade war

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The Asian Development Bank downgraded the growth forecasts for Asia to 5.7 per cent this year and 5.6 per cent next year, down from 6.2 per cent in 2017 and 5.9 in 2018. Photo: AFP
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