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IMF asks China, U.S. to settle trade dispute

Staff Writer |
The International Monetary Fund (IMF) has called on China and the US to settle their trade dispute.

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"We think it's important that both sides try to collaborate, to de-escalate and avoid any kind of tensions," IMF representative Alfred Schipke told journalists in Beijing.

The trade frictions are indirectly affecting the countries' consumers, investors and the financial markets, he said.

"These trade tensions are not beneficial for anybody," Schipke said, as he presented the results of the IMF's annual mission to China.

The IMF maintained its 6.6% growth forecast for China's GDP this year, down from 6.9% last year. By 2023, the world's second-largest economy is expected to slow down to a 5.5% annual growth rate.

China needs to rein in credit growth, ensure a level playing field for domestic and foreign companies, and better protect intellectual property rights, the IMF said.

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