IMF warns China’s economic growth to slow
Tuesday, 13/08/2019 16:50 (GMT+7)
China's economy is slowing in the context of increasing trade conflicts with the US, and if Washington continues to ramp up tariffs, the growth rate of the world's second largest economy will be cut more sharply.
Goods were loaded at the port in Qingdao, Shandong province, China. (Photo: AFP/VNA)
The International Monetary Fund (IMF) lowered its growth forecast for China to 6.2% in 2019, assuming no new tariffs are imposed by the US.
But the organization said that additional US tariffs of 25% on remaining Chinese goods would cut GDP growth in the following year.
Earlier this month, US President Donald Trump announced plans to impose 10% punitive tariffs on USD300 billion in imports from September 1st. This notice means that all products imported from China will be subject to tariffs starting from the beginning of September./.
BTA
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