World Bank’s Kim sees ‘clear’ economic slowdown if trade war escalates

World Bank president Jim Yong Kim talks during a trade conference at the 2018 International Monetary Fund (IMF) World Bank Group Annual Meeting at Nusa Dua in Bali province
World Bank president Jim Yong Kim talks during a trade conference at the 2018 International Monetary Fund (IMF) World Bank Group Annual Meeting at Nusa Dua in Bali province, Indonesia, October 10, 2018 in this photo taken by Antara Foto. Antara Foto/Jefri Tarigan/ via REUTERS

October 11, 2018

NUSA DUA, Indonesia (Reuters) – World Bank President Jim Yong Kim said on Thursday he is very concerned about the trade tensions between China and the United States and warned of a clear hit to global growth if all countries escalated their tariff threats.

Kim made the comments at a news conference during the annual meetings of the International Monetary Fund and World Bank in Bali.

Kim also said more study is needed to understand the effects of trade war on countries that supply goods and services to China.

(Reporting by Yawen Chen and David Lawder; Editing by Shri Navaratnam)

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