🌐 US-China Rivalry Risks Cold War II, Warns IMF Official 🌐

At the 20th World Congress of the International Economic Association, IMF's Gita Gopinath highlighted the risk of a new Cold War between the U.S. and China. Unlike the past, today's economies are highly interdependent, with global trade at 60% of GDP. Gopinath urges policymakers to preserve gains from open trade, emphasizing the importance of a multilateral, rules-based system. In a world facing common challenges, she warns that economic costs of Cold War II could be significant, impacting emerging and developing countries the most. #GlobalEconomy #ColdWarII #TradeRelations 🌍