International Monetary Fund chief attending Saudi conference, watching for news of journalist


The Bali meetings have been dominated by talk of the twin risks of trade and monetary policy tightening, coming in a week in which stock markets from the United States to Asia were roiled as investors sought cover.

World Bank President Jim Yong Kim said the disasters were a reminder of the institution's mission of helping countries build resilience and deal with disasters, manage debt levels and invest in their people to prepare for the future, while helping to alleviate poverty and promote economic growth.

"Our message was very clear: de-escalate the tensions, and open and reform the dialogue", Lagarde said in an interview Sunday with Bloomberg Television's Haslinda Amin, at the conclusion of the International Monetary Fund and World Bank meetings in Bali, Indonesia.

But alluding to the current trade friction between the United States and China, the document says, "Overall, risks are increasingly skewed to the downside amid heightened trade tensions and ongoing geopolitical concerns".

"Are we so busy fighting with each other and competing against each other that we fail to notice the things which are increasingly threatening, all of us alike, rich and poor, large and small", he said. "Don't drift and let's co-operate as much as we can because we will be better off together".

China's central bank governor, Yi Gang, joined the chorus of consternation over the trade standoff, which has resulted in Washington imposing penalty tariffs on tens of billions of dollars of imports of Chinese products and Beijing responding in kind.

Yi said he had spoken to central bank governors and other top officials from a string of nations amid a tit-for-tat US-China tariff battle and Washington's accusations that China was unfairly pushing down the value of its yuan currency to boost exports.

Attention has begun to turn toward hopes that Trump and Chinese President Xi Jinping could meet on the sidelines of the G-20 summit next month in Argentina and reach some sort of agreement that would reduce trade tensions.

"I don't think any decision has been made in regards to a meeting", he said, saying he favored one.

It's unclear if the two sides can make enough progress before then given the limited room for maneuvering.

Rubbing salt in USA wounds, China reported on Friday an unexpected acceleration in export growth in September and a record $34.13 billion trade surplus with the United States.

The Trump "administration is committed to achieving a fair and reciprocal trading and investment relationship with all of our partners, including China", he said. In the end, Mexico and Canada got their way in every single issue that had been drawn as a red line, " Zedillo said.

As officials left Bali, there was little prospect of any resolution to the US-China trade dispute in sight.