Friday, April 12, 2024

World Bank’s Kim sees ‘clear’ economic slowdown if trade war escalates

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NUSA DUA, Indonesia − World Bank President Jim Yong Kim said on Thursday he is very concerned about the trade tensions between China and the United States and warned of a clear hit to global growth if all countries escalated their tariff threats.

Kim made the comments at a news conference during the annual meetings of the International Monetary Fund and World Bank in Bali.

Kim also said more study is needed to understand the effects of trade war on countries that supply goods and services to China. (Reuters)

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