Emerging markets threatened by US-China trade war- Lagarde

Could also affect eurozone exporters

13 September 2018 | Ekonomie
The intensifying trade war between China and the United States could "shock" emerging markets that are already in danger, the head of the International Monetary Fund said in an interview published Tuesday.

As a result, crises in Turkey and Argentina could spread, IMF managing director Christine Lagarde told the Financial Times.

After imposing steep tariffs on Chinese industrial goods in July, President Donald Trump is poised to slap 25% tariffs on a further US$200 billion in imports from China.

Last week, Trump warned he was ready to impose yet more duties on all remaining US imports from that country.

Beijing has so far imposed counter-tariffs in equal measure and has vowed to retaliate in kind, even though it exports more to the United States than it imports.

If the world's largest two economies continue on this course, it could have a "measurable impact on growth in China" and could "trigger vulnerabilities" in neighboring Asian economies whose supply chains are closely linked to Chinese industry, Lagarde told the newspaper.

Some emerging economies find themselves in precarious situations, with currencies weakening in part due to the strong US dollar and investors looking instead to the United States, where benchmark lending rates are steadily rising.

Weakening emerging market currencies could also affect eurozone exporters such as Germany and Spain.

Earlier in the year, Lagarde had already warned against the dangers of a global trade war, hammering the argument that trade in goods and services was a driver of global growth.

She also said a key risk was weakening investor confidence.

-Nampa/AFP

Soortgelyk

 

Dorpe se ouditverslae volgende week bespreek

7 ure gelede | Regering

Die Nasionale Raad se staande komitee vir openbare rekeninge en die ekonomie vergader aanstaande week met streeksrade en plaaslike owerhede om die uitslae van die...

Serfonteins se bedrogverhoor geskei nadat Stephanie skuld beken

8 ure gelede | Howe

'n Voormalige senior administrateur van Ferrodrill Namibia het vandag in die hoërhof in Windhoek erken sy het tussen Oktober 2009 en Julie 2012 bedrog gepleeg...

'Gee vals Psemas-kaart terug'

10 ure gelede | Gesondheid

Die ministerie van finansies het ’n vrywillige grasietydperk aangekondig vir mense in besit van vals kaarte van die staat se mediese fonds (Psemas), of wat...

Dooie pikkewyne op Ichaboe-eiland gevind

11 ure gelede | Omgewing

Agt dooie Afrika-pikkewyne is die laaste drie weke op Ichaboe-eiland naby Lüderitz. Ichaboe is die buureiland van Halifax waar meer as 350 pikkewyne aan die...

Belastingsonde met die bure

22 ure gelede | Ministeries

Jo-Maré Duddy Die hoër sondebelasting wat die Suid-Afrikaanse minister van finansies, mnr. Tito Mboweni, gister in sy begroting aangekondig het, beteken Namibiërs gaan van 1...

‘Kersfees’ vir onwettige loterye verby

22 ure gelede | Ministeries

Francoise Steynberg - Kersfees is verby vir diegene wat onwettige sportboerpotte en gelukstrekkings hou en loterykaartjies aan minderjariges verkoop.Dít wanneer die nuwe Loterywet van 2017...

Mangaan-uitvoere kry groen lig

22 ure gelede | Plaaslik

Catherine Sasman – Die ministerie van die omgewing en toerisme (MET) het ’n omgewingsklaringsertifikaat (ECC) aan die Suid-Afrikaanse maatskappy TradePort Namibia CC uitgereik. Dié maatskappy...

Dorpe se leierskapsvrae gepak

22 ure gelede | Regering

Augetto Graig - Die regerende party het Maandag ’n dringende vergadering by hul hoofkantoor in Windhoek gehou, waartydens besluit is raadslede wat onlangs vir Rundu...

Weer vir 21 Februarie 2019

22 ure gelede | Weer

BINNELAND: Sonnig en bloedig warm in die verre Noordooste. Elders sal dit gedeeltelik bewolk en baie warm tot bloedig warm wees.KUS: Gedeeltelik bewolk en...