October 10, 2019: In her first speech as the managing director of International Monetary Fund (IMF) after taking charge on October 1, Kristalina Georgieva warned that if the current trade war between Washington and Beijing continues, the world will face a ‘digital Berlin Wall’.
The Bulgarian economist and former chief executive of the World Bank was talking at The Annual Meetings of the Boards of Governors of the World Bank Group (WBG) and the International Monetary Fund (IMF) in Washington DC on Tuesday.
Trade disputes are taking a toll, says @KGeorgieva in her first speech as IMF Managing Director.
For the global economy, the cumulative effect of trade conflicts could mean a loss of around $700 billion by 2020, or about 0.8 percent of GDP.
She pointed out to the updated analysis of how the loss of confidence and market reactions is directly connected to the direct costs on businesses and consumers from the three rounds of implemented and announced tariffs.
— IMF (@IMFNews) October 8, 2019
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Information and Communication Technology (ICT)
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