During his recent speech at Asian Financial Forum in Hong Kong, IMF’s First Deputy Managing Director David Lipton said that China needs to reform its economic policies to attract future investments in order to lead globalization.
During the event, he said, “We believe that effective and credible leadership in support of globalization also requires a willingness to recognize and address one’s own shortcomings.”
“China has a window of opportunity to accelerate economic reforms that can secure sustainable and inclusive growth. China has made considerable progress in this area, as our recent assessment of its financial sector shows. But it is essential to sustain this effort to ensure that financial instability does not undermine the country’s extraordinary economic and social progress.”
Lipton’s latest comments come after few days earlier, a U.S. trade tribunal said that current practice of importing aluminum sheet is hurting US industry which started the speculation that Trump administration might impose tariffs in the coming days.