Global finance leaders grapple with globalization fears
Apr 23, 2017, 02:11
In addition, in language that could be seen as a jab at Germany - which posted a record trade surplus a year ago - Mnuchin said that "countries with large external surpluses and sound public finances have a particular responsibility for contributing to a more robust global economy".
An IMF communique released on Saturday said officials "are working to strengthen the contribution of trade to our economies".
This year's meetings were dominated by a debate over how to respond to a rising tide of anti-globalization sentiment evidenced in the United States by the election of President Donald Trump, who pledged during last year's campaign that he would reduce America's huge trade deficits which he blamed for the loss of millions of good-paying factory jobs.
IMF Managing Director Christine Lagarde, speaking at the same briefing as Carstens, said the statement reflects support for her global policy agenda, which includes a call for countries to "not leave the mounting economic consequences of climate change for future generations".
Mexican central bank chief Agustin Carstens, who heads the International Monetary Fund steering committee, said protectionism is a "relative term" and "ambiguous".
Some positions remained little changed.
"There is no country that does not have any proviso or restriction on trade", Carstens said in a news conference.
Trump reverses views on Russia, China
USA 100 dollar banknotes and Chinese 100 yuan banknotes are seen in this picture illustration in Beijing, China, January 21, 2016. Treasury and will express its opinions about the department's concerns over the New Taiwan dollar and U.S. dollar exchange rate.
"We all want free and fair trade and that is what is reflected in the communique", he told reporters when asked why the language on protectionism had been dropped. "The notion of allowing for freer trade has run up against the Trump administration's conviction that its major trading partners are manipulating trade and currency policies to their own benefit".
"Targeting and dismantling the financial networks of terrorist organisations is a top US priority, and improving anti-money laundering and counter terrorist financing (AML/CFT) systems is critical to this goal", US Treasury Secretary Steven Mnuchin, said in his address to the International Monetary Fund.
The comments came a day after Trump ordered the U.S. Commerce Department to investigate whether steel imports posed a threat to U.S. national security - a move that could lead to the U.S. imposing tariffs on steel.
If more isn't done, "we will see more protectionism and countries retreating from globalization", said Germany's finance minister, Wolfgang Schaeuble. With the UK set to expand by 2pc in 2017, outstripping Germany, France, Japan and second only to the United States, the International Monetary Fund last week became the latest in a long line of official forecasters to ditch predictions of British economic woe after last summer's Brexit vote.
US Treasury Secretary Steven Mnuchin repeated that the US focus will be on "more rigorously defending ourselves against unfair trade practices" including against countries with large surpluses.
The outlook for the world economy is sunnier than six months ago, with the statement saying that the "global economic recovery is gaining momentum, commodity prices have firmed up, and deflation risks are receding". "The economy has very strong buffers", the official said.
Payless ShoeSource said earlier this month that it will close 400 of its 4,000-plus stores after filing for chapter 11 bankruptcy. Bebe is the latest fashion retailer to succumb to sluggish sales due to fierce competition from online companies.
Bruce Ward and Don Davis had originally been the first of eight Arkansas inmates scheduled to die within 11 days of each other. Lawyers for Davis and Ward argue the two did not have adequate access to independent mental health experts at trial.
Mattis' visit symbolizes a distinct warming of relations between the US and Egypt in contrast to the Obama administration. The visit came after a meeting between Sisi and his US counterpart Donald Trump at White House earlier this month.
The Falcons held a 28-3 lead before collapsing to lose in the most historic comeback in Super Bowl history. Since that night, the Packers are 2-2 against Seattle, including a loss in the 2015 NFC Championship game.
Kim Il Sung died in 1994 at the age of 82, after leading his country from its establishment in 1948 until his death. Pacific Command said the missile "blew up nearly immediately", adding the type of missile was being analysed.
The suspect's DNA is a 1:108 quintillion match to that found on Marcotte's hands when she fought her killer last summer. Marcotte grew up in Leominster and was working as an account manager for Mountain View, California-based Google in NY .
Louis said finding and listening to music digitally lacks the gratification that comes with purchasing a physical record. The day brings together fans, artists and thousands of independent record stores from across the world.
Tillerson has said that he would recuse himself from Russia-related matters for two years as Secretary of State. The newspaper said Exxon has been seeking permission to work with Rosneft in areas banned by USA sanctions.
According to social media , fans seemed to go wild when they caught sight of Fonsi on Bieber's "Purpose Tour" stage. The original version of the hit remixed song, was originally released earlier this year back in January.
Goffin beats Djokovic to reach Monte Carlo semifinals
The 12-time Grand Slam champion looked in trouble after losing the first set and then suffering a heavy fall early in the second. Nadal beat Goffin 6-3 6-1 in a controversial semi-final to put himself on the brink of another title at the clay-court showpiece.
Arnautovic blunder proves valuable to Swansea
Marko Arnautovic stepped up from the spot but inexplicably struck his penalty high into the stands behind Fabianski's goal . Paul Clement insists his Swansea players have the stomach for their Premier League relegation fight.
NYC moves to raise cigarette costs to nation's highest
Staten Island has 402 cigarette retailers with licenses, according to the mayor's office. "We have a lot more we have to do". About 12,000 people in NY die each year from smoking-related illnesses, according to the Times.
Most habitable planets may lack dry land
Now, we know of thousands of such planets - and today, scientists may have discovered the best candidate yet for alien life . Rocky planets within that habitable zone of a star are considered the best place to find evidence of some form of life.
Ronaldo hat trick puts Madrid into Champions League semis
Bayern saw midfielder Arturo Vidal sent off for what looked a harsh second caution to go into extra time with just 10 men. Bayern coach Carlo Ancelotti said that " Lewandowski is OK - he trained yesterday with everyone and is fine".
High-risk HPV affects 23 percent of American adults
They found around 0.5% of women from the 1995 group tested positive for HPV 16/18, compared with 21.4% of women born before 1990. The prevalence of any oral HPV among adults 18-69 years old was 7.3% and high-risk oral HPV was 4% during the four-year period.
Ben Affleck and Jennifer Garner are getting a divorce
Ben Affleck arrives at the European premiere of "Live by Night" at the British Film Institute in London January 11, 2017. Sporting a thick gray beard, Ben was seen buying his daughter Violet an ice cream cone at a posh ice cream shop.
Google Image Search Launches 'Style Ideas' Feature
Google's Image Search is quite similar to Pinterest, which offers shoppable information attached to an image as well. As an added bonus, you'll also see an expanded carousel for "similar items" while searching for apparel products.