Politicization of trade is ‘immoral and unsustainable,’ China says

News Snapshot:

China on Wednesday said a situation in which national security restrictions severely impede global growth due to “the politicization of economic and trade issues” would be “immoral and unsustainable”, after a International Monetary Fund warning. IMF Deputy Managing Director Gita Gopinath in December said that if the world economy and trade fragmented into two blocs – implying predominantly the U.S. and Europe in the West and China and Russia in the East – global gross domestic product could be cut by 2.5 per cent to 7 per cent. “A trade war, a science and technology war, exercises in decoupling or...