Economy 05-11-2018

IMF Director: "China has changed the global economy"

Lagarde stressed that the world needs more international cooperation.

China's economic transformation has not only changed the internal life of the country, but the global economy, Christine Lagarde, managing director of the International Monetary Fund (IMF), said on Monday during the inauguration of the first International Import Exhibition in the Chinese city. of Shanghai (CIIE, according to its acronym in English).

"Forty years ago, China began to build a bridge to the rest of the world, opening its economy and stimulating the initiation of reforms that changed the lives and opportunities of hundreds of millions of people here and outside of China," said Lagarde.

"By changing itself through trade, through hard work, also learning from others, China has helped transform not only itself, but also the world economy, " he added.

According to Lagarde, China is building a bridge to prosperity, reorienting the economy of growth driven by investment and exports to growth driven by consumption.

"China is building a bridge to the future, strengthening international cooperation, especially in trade." On behalf of the IMF, I urged all parties to eliminate tension and resolve existing trade disputes, as well as fix the global trading system, and not destroy it.To achieve these objectives, we need more international cooperation , not less, "he said.

The first International Import Exhibition in Shanghai, in which some 2,800 companies representing more than 130 countries and regions of the world participate, will last until November 10.


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