International Monetary Fund Director Kristalina Georgieva commented on China-US trade mini-deal. She said a reconciliation between the two countries was not enough and that a trade peace was needed, BGNES reported.
"It's really good news that the US and China are talking to each other, but it's not enough."
Trade wars around the world have a strong negative impact on global economic growth. The International Monetary Fund has warned about this.
The Executive Director of the Fund Kristalina Georgieva commented that global losses could total $ 700 billion by 2020, or about 0.8% of GDP. For comparison, this is the approximate annual GDP of Switzerland.