WASHINGTON, April 19 -- The International Monetary Fund (IMF) and the World Bank Group (WBG) have called on countries to keep trade open as the world battles the COVID-19 pandemic, warning that export controls on medical supplies and other essentials could backfire.
At a virtual press conference during the just-concluded spring meetings of the two multilateral institutions, IMF Chief Economist Gita Gopinath said that this is not a time to restrict the trade of medical supplies and essential equipment around the world.
"It is very important that this does not become a future where we reverse all the gains that we've got from globalization," said Gopinath, in response to a question from Xinhua.
Echoing her remarks, Kenneth Kang, deputy director of the Asia and Pacific Department at the IMF, told Xinhua in a recent written interview that countries should avoid trade restrictions on medical and health products to ensure that they go to where they are most needed.
"Countries with limited health care capacity and resources will need international aid to prepare for and weather the pandemic," Kang said. "The health emergency is a powerful reminder of the need for policy coordination and solidarity in an interconnected world," he said.
The IMF official said that countries should cooperate to reduce tariff and non-tariff barriers that impede cross-border trade and investment and to strengthen global supply chains as the recovery takes hold.
Zhang Tao, deputy managing director of the IMF, told Xinhua that he hoped these supply chains would work as best as they can to maximize global production and supply, which makes global collaboration "essential."
"Today more than ever, the global economy would benefit from a more open, stable, and transparent, rules-based international trade system," Zhang said.
World Bank President David Malpass, meanwhile, said at a virtual press conference Friday that big countries need to step forward and pledge not to use the crisis as a reason to close or block the markets.
"We should allow markets to function, markets to clear and the supplies to go to those most in need," said Malpass, adding that China is exporting medical supplies to the rest of the world, which is "very welcome."
The IMF and World Bank's advocacy for free trade came as protectionist sentiments are growing across the globe amid the pandemic. Some 46 export curbs on medical supplies have been introduced by 54 governments since the beginning of the year, according to a report published on March 23, by Global Trade Alert, a trade policy monitoring initiative.
Thirty-three of those export curbs have been announced since the beginning of March, "an indication of just how quickly new trade limits are spreading across the globe," the report showed.
Aaditya Mattoo, chief economist for East Asia and the Pacific Region at the World Bank, said it is a bit understandable for countries to impose export restrictions, but these actions are "almost always counterproductive."
"If each country imposes restrictions, then the global price increases even more than it would have. And it can end up being a self-defeating policy," Mattoo said at a recent press call, in response to a question from Xinhua.
The World Bank economist also noted that such measures would hit those countries who rely on these badly needed medical supplies, especially poor countries, which import a lot of drugs, ventilators and masks.
Despite that, Jeffrey Sachs, a renowned economics professor at Columbia University, told Xinhua that he thinks there will be more protectionism in Western countries, both in the United States and the Europe.
China will have to work hard to secure long-term supply chains and two-way trade, including with Association of Southeast Asian Nations (ASEAN), Africa and South America, said Sachs, also a senior United Nations advisor.
"I believe that China, Japan, (South) Korea, and ASEAN should work hard for a swift recovery and open trade amongst themselves," said Sachs. "East Asia could be back in business because East Asia never lost control of the epidemic."
As the global economy is on track to shrink "sharply" by 3 percent this year due to the pandemic, the IMF chief economist highlighted the importance of keeping trade open in global recovery.
"The world needs a healthy recovery. It needs a strong recovery. And that will not come about if the world de-globalizes because that would severely reduce productivity in the world," Gopinath said. "And that's the last thing we want at this time." Enditem
美国孩子如何看热门视频:Facebook与父母
英语听力视频:波音公司创建787梦想飞机
英语听力:奥巴马在巴纳德学院毕业典礼上的讲话
视频:奥巴马竞选纪录片《我们走过的路》汤姆汉克斯解说
TED演讲:畅想电子游戏
英语听力视频:梦露未见过物品公之于众
英语听力:东北小伙搞笑模仿9国人说英语(视频)
China releases 1st report on danger of smoking
英语听力:中国羽毛球男队完胜韩国 连续五夺汤姆斯杯
听力练习:考古学家在安阳古墓中发现完好无损壁画
英语听力:第21届国际木偶节于成都开幕
英语听力:美国熊孩子如何看热门视频—复仇者联盟
英美大不同相声版(视频)
机器人总动员Wall-E对Eva的表白(视频)
英语听力视频:"最美女教师"张丽莉术后恢复
英语口语陷阱:不能按字面意思理解的句子
英语听力视频:舞者们加紧进行奥林匹克运动会排练
英语听力视频:英国女王钻石银禧庆典举行
这就是新东方英语篮球营的魅力
Olympic torch scales Snowdon in Wales
英语听力:殿堂级吃货必看-舌尖上的中国
TED演讲视频: 朱莉娅斯威尼和女儿的“谈话”
白宫记者晚宴吉米爆笑演讲:槽点大盘点(视频)
同传现场:胡锦涛夏威夷会见奥巴马谈双边关系(视频)
教师的烦恼(视频)
英语听力视频:女教师舍身救人双腿遭截肢
英语听力:马来西亚巧克力糖果乐园 陪孩子们过假期
英语听力:《囧司徒每日秀》吐槽NBA新星林书豪
英语听力:170余幅农民工画像走进绘画艺术展
英语听力视频:扎克伯格谈Facebook盈利秘诀
不限 |
英语教案 |
英语课件 |
英语试题 |
不限 |
不限 |
上册 |
下册 |
不限 |