IMF warns of negative impact of deteriorating US-China trade relations on COVID recovery

On Wednesday, October 21, International Monetary Fund (IMF) said that growing tensions between US and China trade relations could hamper recovery of global ecomy in post COVID-19 era. As per reports, IMF also stated that re were multiple or risks that could possibly hamper states as y try to recover from impact of COVID-19 such as a second wave of virus which Europe is currently experiencing, as well as social inequality.

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Deteriorating trade relations hampering post-COVID-19 Ecomic Recovery

In a Regional Ecomic Outlook for Asia and Pacific, IMF said, "Escalating US-China tensions spanning trade, financial flows, techlogy, and geopolitics could pose major ecomic risks, given Asia's major role, among or things, in global value chains ... A rise in social unrest triggered by pandemic's disproportionate impact on poorest and most vulnerable could compromise recent hard-won gains."

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Under Trump administration, US-China relations have swiftly deteriorated. US and Donald Trump have accused Beijing of taking part in unfair trade practices and on multiple occasions blamed China for COVID-19 pandemic, claiming that Asian country did t do eugh to stop initial spread of virus. In addition, China’s increased activity in South China Sea, as well as US military operations in South China Sea, have contributed to deteriorating relations.

Recently, China has also threatened to detain US nationals in response to Justice Department's prosecution of Chinese military-affiliated scholars. se warnings from Beijing come after US began detaining Chinese scholars in United States. US Justice Department has claimed that arrested scholars had tried to hide ir active duty statuses with People's Liberation Army (PLA) from US authorities to justify detention.

(With ANI inputs, Im ANI)

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