October 14, 2018

China’s central bank still has plenty of tools that it can use to counter the detrimental effects of a trade war, its governor, Yi Gang, said on Sunday.

The Asian economic giant is in the center of a tariff fight with the U.S. The world’s two largest economies have imposed tit-for-tat tariffs on each other’s products, which have made investors nervous and is seen as a major risk in derailing the global economy.

“I think the downside risks from trade tensions are significant,” Yi said at the International Banking Seminar, which was organized on the sidelines of the annual meetings of the International Monetary Fund and the World Bank in Bali, Indonesia.

Read more:

https://www.cnbc.com/2018/10/14/china-still-has-tools-to-counter-trade-war-impact-pboc-yi-gang.html