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Tag Archives: China

Chart of the weekTrade Balances Mostly Driven by Economic Forces, Not Tariffs

By IMFBlog Español, Português Over the past two decades, most of the changes in bilateral trade balances—the difference in the value of exports and imports between two countries—were explained by macroeconomic factors, according to IMF research. These factors include fiscal policy, demographics, and weak domestic demand. They may also include exchange rate policies and domestic supply-side policies, like subsidies to state-owned enterprises or to export sectors. In contrast, changes in...

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Tariff Shocks: The Role of Value Chains in Europe

By Raju Huidrom, Carlos Mulas-Granados, Laura Papi, and Emil Stavrev (Español, Português) The Czech Republic exports only a small number of cars and car parts directly to the United States, but it’s likely to suffer significant economic damage if that country were to impose tariffs on auto imports. The reason: the Czech Republic supplies parts that are used to build cars exported by other European countries. Europe’s auto industry is one of many that are part of global value chains, in...

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Five Facts on Fintech

By Tobias Adrian and Ceyla Pazarbasioglu From artificial intelligence to mobile applications, technology helps to increase your access to secure and efficient financial products and services. Since fintech offers the chance to boost economic growth and expand financial inclusion in all countries, the IMF and World Bank surveyed central banks, finance ministries, and other relevant agencies in 189 countries on a range of topics and received 96 responses. A new paper details the results of...

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Chart of the WeekMapping the World’s Financial Weak Spots

By IMFBlog Español, Português Where will the next financial crisis come from? The short answer is: We don’t know. We can, however, look for vulnerabilities in the system that, if left untreated, can develop into problems. What do we mean by a vulnerability? It is an area of weakness that can amplify and spread an unexpected economic shock, increasing the level of risk to the financial system. Imagine the impact of an earthquake on a house built on sand, as opposed to bedrock. In the...

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China Deepens Global Finance Links as It Joins Benchmark Indexes

By Sally Chen, Dimitris Drakopoulos, and Rohit Goel 中文, 日本語 China is embarking on the next stage of its integration into global financial markets. It is a stage that is likely to see a fresh flood of overseas investment, improved liquidity, better governance, and a broader range of instruments. The catalyst: inclusion of Chinese stocks and bonds in a larger number of global financial-market indexes. As Chinese securities are added, investment managers who seek to match or surpass the...

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How to Help, Not Hinder Global Growth

By Christine Lagarde As the G-20 finance ministers and central bank governors gather this week in Fukuoka, they can take inspiration from their host city. Known as Japan’s “startup city,” Fukuoka has flourished in recent decades by embracing trade, innovation, and openness. That spirit is needed more than ever to help reduce trade tensions and clear other stumbling blocks on the way back to higher and more sustainable growth. The goal must be to help, not stand in the way of global growth....

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The Impact of US-China Trade Tensions

By Eugenio Cerutti, Gita Gopinath, and Adil Mohommad 中文 US-China trade tensions have negatively affected consumers as well as many producers in both countries. The tariffs have reduced trade between the US and China, but the bilateral trade deficit remains broadly unchanged. While the impact on global growth is relatively modest at this time, the latest escalation could significantly dent business and financial market sentiment, disrupt global supply chains, and jeopardize the projected...

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Designing Labor Policies to Foster Inclusive Growth in Emerging Markets

By Romain Duval and Prakash Loungani Emerging market economies have enjoyed good growth in recent decades but are still far from closing gaps in living standards with advanced economies. Emerging markets also need growth to be shared by everyone, particularly by providing their growing populations with good jobs and social protection. In a new IMF staff paper, we look at how the design of labor markets—institutions and policies—could foster inclusive growth in these countries.    ...

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Getting Real on Meeting Paris Climate Change Commitments

By Christine Lagarde and Vitor Gaspar Español, Português Climate change is the great existential challenge of our times. It is a challenge that spans all regions, with especially severe consequences for low-income countries. Without mitigating actions, global temperatures are projected to rise by 4oC above pre-industrial levels by the end of the century—with increasing and irreversible risks of collapsing ice sheets, inundation of low-lying island states, extreme weather events, and...

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Financing for Sustainable Development: Tackling Big Challenges

By Chris Lane Français (French) Without adequate financing, the best intentions of the global community expressed in the Sustainable Development Goals (SDGs) will remain beyond reach. Recent setbacks in financing for development should therefore focus policymakers’ attention on the need for decisive national strategies so these best intentions might be realized. Harnessing the necessary resources could be achieved through a combination of revenue mobilization, attracting private finance,...

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