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China's policies to open up economy will boost trade: IMF

IANS  |  Shanghai 

Christine Lagarde, the of the (IMF), on Monday praised for facilitating economic and trade cooperation at a time of growing protectionism and an ongoing trade war between and

also spoke about China's growing importance in global trade during the inauguration of the first International Import Expo, which began here on Monday, reports news.

She said had built a "bridge" 40 years ago when it started opening up its economy, and was building one again now with its structural reforms, seeking to move away from an exports-based model to one based on domestic consumption.

also called for efforts to alleviate current trade disputes, in a reference to the US-China trade war, and urged countries to work toward repairing the economic system instead of destroying it.

A better business environment would lead to a better international environment, added

The Jim Yong Kim, called China's opening up of its a lesson for everyone and said trade led to inclusive economic growth as it created jobs.

The Expo, that is being attended by more than 3,000 companies from 130 countries, will conclude on Saturday.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 05 2018. 12:36 IST