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Trade war could cost global economy $700 billion by 2020, new IMF chief says

October 8, 2019


The trade war between the U.S. and China could mean the loss of around $700 billion for the global economy by 2020, the new head of the International Monetary Fund said Tuesday.

“Everyone loses in a trade war,” said Kristalina Georgieva, who took over the helm of the international finance agency last month.

The IMF has been warning of trade disputes ever since the Trump administration took office but now “we see that they are actually taking a toll, Georgieva said.

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