The USA recently caused a stir with new restrictions on business with the Chinese semiconductor industry.
(Photo: Reuters)
Bangkok In view of increasing geopolitical tensions, the International Monetary Fund (IMF) warns of a new block formation in world trade. Significant economic damage is threatened, economists of the organization calculate in a new study.
In her view, Asia would be particularly badly affected if future trade flows were to be divided between Western-oriented countries and a Russia-China alliance. Worrying warning signs can already be seen.
The Washington-based organization released the report on Friday, two weeks ahead of the start of a series of international summits in Asia at which both China and Russia will seek closer partnerships with Southeast Asian nations. Countries like Thailand, Vietnam and Indonesia are currently trying to do good business with both China and the West. Having to choose sides would seriously jeopardize their economic model.
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