WASHINGTON | US defends tough trade stance at global finance meeting
WASHINGTON | US defends tough trade stance at global finance meeting
Mnuchin considers traveling to China amid trade spat
23 April, 2018, 21:58
India's role in the development of the Indo-Pacific region will continue to expand because of its robust growth, the International Monetary Fund has said but underlined that there is room to increase its export orientation and to reduce further barriers.
He called for the realignment of quota shares of emerging market and developing economies (EMDEs) whose under-representation has increased further by 0.5 percentage points in the last update leading to underrepresentation of EMDEs by 7.5 per cent. China counterpunched by targeting $50 billion in USA exports.
Because the world is so interconnected, the supply chains involve so many countries that it would affect the global economy, the International Monetary Fund has said.
"Increasingly we find examples where by LICs [low-income states] have borrowed excessively, also unsustainably, out of huge, often non-transparent rising sovereign creditors like China and/or confidential creditors", the announcement claimed.
Mnuchin also declined to say what he wants from a trade deal with China, adding, "If we have a deal, you'll know what it looks like when we have it".
It was a surprising omission for the group that was key to shepherding the global economy through the 2008 financial crisis and preventing another depression.
Rising financial vulnerabilities, increasing trade and geopolitical tensions, and historically high global debt threaten global growth prospects, it said.
"The window of opportunity remains open and should be used expeditiously to advance policies and reforms that sustain the current upswing, enhance resilience, and raise medium-term growth for the benefit of all", it said.
"The discussions were really more around the governor's actions at the PBOC (People's Bank of China) and certain actions they've announced in terms of opening some of their markets, which we very much encourage and appreciate", Mnuchin told reporters on the sidelines of an International Monetary Fund meeting in Washington on Saturday.
The IMFC said it will continue to use all policy tools to achieve strong, sustainable, balanced, inclusive, and job-rich growth.
German Finance Minister Olaf Scholz met with US Vice President Mike Pence and Trump economic adviser Larry Kudlow at the White House, and afterwards told reporters that "all sides are really working on finding a good solution".
An unnamed spokesman for the Chinese Commerce Ministry said in a statement obtained by the Wall Street Journal that his country "welcomes this" news of Mnuchin's possible trip.
China has threatened retaliation against US exports if Washington pushes ahead with the tariffs. Next it proposed tariffs on $50 billion in Chinese products to sanction Beijing for its aggressive efforts to obtain US technology.
The heated trade rhetoric comes at a delicate moment, as Washington and Beijing are both seeking to address North Korea's nuclear program - which Pyongyang said Saturday it would largely scale back. Moscow is seeking "clarification" on U.S. sanctions, Mnuchin said, without elaborating.
The American military airstrikes were in response to a suspected chemical gas attack on the district of Douma. The Pentagon said Syrian batteries fired 40 interceptor missiles, most only after the strikes had finished.
On the undercard Tommy Coyle stunned Sean Dodd to win the Commonwealth lightweight title. "I'm not a fighter to run away". Khan then pinned Lo Greco to the ropes before the super-welterweight contest ended moments after it had started.
But she added that "we have to keep the pressure up with the sanctions regime and everything else we are doing". Thank goodness Kim Jong Un and North Korea never did so, seemingly stepping towards diplomacy in recent months.
Nugget Markets, Safeway and Raley's told us the romaine lettuce they sell does not come from the Yuma, Arizona growing region. People usually get sick from Shiga toxin-producing E. coli (STEC) 2-8 days (average of 3-4 days) after swallowing the germ.
Concerning hardware, the Moto G6 Play comes powered by a Snapdragon 428 processor with 2GB/3GB of RAM and 16GB/32GB storage . Apart from G6 series phones, Motorola also unleashed the relatively affordable Moto E5 , Moto E5 Play , and Moto E5 Plus .
Tristan wants Khloe to forgive him and wants to assure her that they can have their fairytale family. True is a sweet name for Khloe's first born, but you better believe that Twitter had some reactions.
Tens of thousands of protesters have marched through the capital Yerevan in recent days, blocking streets and staging sit-ins. She worked in Russian Federation for five years as a senior executive of state-controlled gas giant Gazprom.
There were obviously some talented players opposite of Jones as well, but those were mostly back-ups and other young players. DB - Once again, Diggs enters an A-Day game as one of Alabama's starting cornerbacks. "Without me saying it ... two years".
While Sri Reddy has now apologised to Pawan but the man is no mood to spare anyone who abused his mother. The notice also warned to take appropriate legal procedure on Pawan Kalyan if he fails to comply.
The line for Philadelphia sits at +205 and the Over/Under (O/U) has been set at 6 goals (-110 for the over, -110 for the under). Pittsburgh came out with a lot of energy in the second period and tied the score at the 12-minute mark on a goa by Bryan Rust .
Surveillance footage showed the bodyguard Johnson at a Walgreens, picking up a prescription hours before Prince's death. The release contained hundreds of photos of Paisley Park that offered a glimpse into the artist's life.
Fellow passengers pulled the passenger - identified as Jennifer Riordan, 43 - back in, but she later died of her injuries. The engine explosion on Southwest Airlines flight 1380 on Tuesday was caused by a fan blade that broke off, the FAA said.
Beyonce and Solange fall during Coachella set
This time, however, their mini dance battle ended with a fall, as Bey failed to pick her sister up and they tumbled to the floor. Beyonce was headlining Coachella after pulling out previous year because she was pregnant with her twins, Sir Carter and Rumi.
Kipchoge wins London Marathon, Farah is third
Keitany and Dibaba had been tipped to challenge Paula Radcliffe's world record but, after a ferocious start, both exhausted . McFadden had been forced to miss racing in London previous year after surgery for blood clots and was glad to be back.
Bucks Handle Celts In Game 3
Starting center John Henson was unavailable for the game due to a back issue, so the Bucks had to go with Tyler Zeller . The forward was visibly frustrated and clearly disagreed with the call. "It's been the same s-t all year ".
Man. United dump Tottenham to reach FA Final
He said that Tottenham , who have been without a trophy since 2008, need more time to build the mentality needed to win trophies. Liverpool missed a chance to considerably stretch its advantage over Tottenham in one of Saturday's two league games.
New Nokia smartphones finally launch in South Africa
And if you are an Airtel customer, on buying the Nokia 8 Sirocco you will be entitled to get an additional data benefit of 120GB. Nokia 7 Plus will be available at a recommended best price of Rs. 25,999 and comes in Black/Copper and White/Copper colours.
AT&T and Verizon have been working together to screw you
Observers of the trial say AT&T appears to have an advantage after exposing weaknesses in the government's pricing power claims. This is likely why CNBC believes that it was Apple who contacted the government to complain about the problem.