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Free AccessMNI Policy: IMF Lagarde Says Trade War May Cost China 0.6% GDP
By Iris Ouyang
BEIJING (MNI) - The ongoing trade war between the two largest economies may
reduce China's growth by 0.6 percentage point in 2019, Christine Lagarde,
managing director of the International Monetary Fund told reporters in Beijing
on Tuesday.
China's growth next year may slow to 6.2% from forecast 6.6% this year,
Lagarde said. The trade conflict may also slow U.S. growth by 0.2 percentage
point, Lagarde said.
Lagarde, sitting next to Chinese Premier Li Keqiang, praised China for
having made the right moves to rebalance its economy, including slowing its
credit growth, address financial risks and further opening up its economy.
Growing trade tensions, effects from monetary policy adjustments and turbulences
in the emerging markets are some of the factors clouding global outlook, Lagarde
said.
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MC$$$$,MI$$$$,MGQ$$$]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.