Trade War Warning from IMF President to China and USA

Trade War Warning from IMF President to China and USA

International Monetary Fund (IMF) President Georgieva stated that a possible trade war between the United States and China would harm economic recovery after the Covid-19 outbreak, and also warned the two countries not to start this war. IMF President Kristalina Georgieva was involved in an event organized by the social platform network through the European University Institute. International Monetary Fund President Kristalina Georgieva stated that the most recent economic information could be more negative than the International Monetary Fund's forecast of 3 percent contraction this year. Unfortunately, there are more unfavorable situations in the name of some economies, as the International Monetary Fund President Kristalina Georgieva said, “There is no definitive treatment method in the field of health in the coming period. The unknowns in the direction of this epidemic worsens the future in the name of forecasts. ” The International Monetary Fund's projection of 3 percent contraction in the world economy is expected to be the worst contraction since the Great Depression of the 1930s. While the International Monetary Fund thought that the global economy in 2021 would improve slightly, it also warned that the outcomes of the epidemic could be negative than expected. The economy of the United States, leading the world's most advanced economies, has suffered severe damage to the economy as a result of the precautionary measures and restrictions. Looking at the announced information, unemployment rates reached 14.7 percent in April, while the White House stated that this rate could reach 20 percent this month.

THE TRADE WAR BETWEEN THE UNITED STATES AND CHINA

The President of the United States, Donald Trump, had warned China to set new customs duties and punish them for the events that developed after the virus showed up in the world. US President Donald Trump also stated that he could lift the tier 1 trade agreement with China. While the U.S. and Chinese officials at the top officials say the trade agreement will continue, some observers say China's promise to buy American products is much lower than its 2017 promise to buy $ 77 billion more than the 2017 levels. International Monetary Fund President Kristalina Georgieva warned that going to protectionist economies could harm economic recovery at a significant time. International Monetary Fund President Kristalina Georgieva stated that urgent funds were provided to 50 countries from 103 countries calling for help from the International Monetary Fund. The head of the International Monetary Fund (IMF), Kristalina Georgieva, stated that despite the fact that the death rate in poor countries is less than that of rich countries, the rapid decrease in money and raw materials sent by employees outside the country poses a great risk for poor countries.