Macron victory ‘good news’ for trade-reliant Asia: IMF

10 May 2017 12:01 am - 0     - {{hitsCtrl.values.hits}}

A A A

AFP: Emmanuel Macron’s victory in the French presidential election is ‘good news’ for trade-reliant Asia as it eases fears of rising protectionism in Europe, the International Monetary Fund (IMF) said yesterday.
Changyong Rhee, director of the fund’s Asia and Pacific Department, said Macron’s win over far-right candidate Marine Le Pen, an economic nationalist, had made him more optimistic that major trade tensions would ease.
“If you asked me this question (on rising protectionism) three to six months ago, I would probably have answered that I am very seriously concerned on the possibility of trade tensions in the global economy,” he told reporters in Singapore.
“But now I feel a little bit better,” he added, citing a meeting between US President Donald Trump and his Chinese counterpart Xi Jinping last month and Macron’s victory on Sunday.
“I think the result of the French elections really show that it’s good news to open trade and globalisation, and it reduces the uncertainties of the eurozone,” Rhee said. “So I think at this moment I am a little bit more optimistic that these trade tensions will resolve without bigger tensions.” The IMF’s latest economic outlook had flagged increasing protectionism in Asia’s major trading partners and tightening global financial conditions as key downside risks to regional growth.
“Asian economies are particularly vulnerable to trade shocks... given the reliance of many Asian economies on exports, more protective trade policies would generate a significant negative impact on the region,” said the report issued last month. It said the Asia-Pacific was expected to remain the world’s fastest growing region this year and next, at 5.5 percent and 5.4 percent, but growth was ‘clouded with significant uncertainty’.

 

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Bio Bubble Bursts on tissa safari drivers

Ukrainian tourists are visiting Sri Lanka at present with the involvement of

Army’s LRRP Ambush of LTTE’s Military Intelligence Chief

A news report in the Dailymirror last August stated that the Long Range Recon

“I don’t think Sri Lankans can be realistically ruled by force” -Ahimsa Wickrematunge

Twelve years after the assassination of Lasantha Wickrematunge, the founding

Decisions to be made in Sri Lanka’s hunt for the COVID-19 Vaccine

Around the world, governments are gearing up to roll out nationwide immunizat

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.