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IMF says China should keep exchange rate flexible as trade war intensifies Updated: 2019-08-10 13:46:06 KST

The International Monetary Fund says China should keep its exchange rate flexible to stand the shock coming from its intensifying trade war with the U.S.
According to Bloomberg, the IMF released a report on China's economy on Friday.
It says, if the U.S. raises tariffs to 25-percent on remaining Chinese imports, that could cut China's growth by point-eight percentage points over the following year, which would lead to (quote)"significant negative spillovers" globally.
To absorb the tariff shock, the IMF recommended China keep its exchange rate determined by the market and added foreign exchange intervention could be called for in the future.
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