Launch of IMF World Economic Outlook

2015-10-19 IMI

On October 19, the Launch of IMF World Economic Outlook was held in Renmin University of China (RUC). The event was co-hosted by IMI, IMF China and Minsheng Securities Co., Ltd. Participants include Paul Steinmetz, Luxembourg Ambassador to China; Raphael Lam, IMF deputy representative for China; Rudolfs Bems and Lian Weicheng, economists of IMF; Wei Benhua, former deputy administrator-in-bureau of SAFE and former executive director for China in IMF; Guan Qingyou, executive dean of Minsheng Securities Academy and chief economist of Minsheng Wealth Management; Sun Lujun, director of Guoxin International Investment Co. Ltd., and counselors to China from the Embassy of U.S., Germany, Italy, Canada, Russia, Australia and other countries. The conference was presided by Zhang Zhixiang, former Director General of International Department, PBoC, and former Executive Director for China in IMF After the opening remarks by Mr. Raphael Lam, Mr. Wei Benhua and Mr. Guan Qingyou, Mr. Rudolfs Bems made a keynote speech titled “Where are commodity exporters headed? Output growth in the aftermath of the commodity boom”, he pointed out that after several years of prosperity, commodity exporters had been facing economic downturn. He summarized the pro-cyclicality of expenditure response, production, government spending, credit and prices. He suggested that all the countries should make full use of the reform opportunities in crisis to improve labor market, infrastructure and economy environment, etc.

Mr. Lian Weicheng delivered a speech titled “Exchange rated and trade: disconnected?”. He stated that with the development of economic globalization, the understanding to exchange rates and trade should be altered as well. He illustrated from several perspectives: exchange rates and trade transmission channels, the influence of major currency depreciation on emerging markets and developed economics.

It was mentioned in the World Economic Outlook this year that the global economy was predicted to increase by 3.1%, 0.3% lower than that of 2014. The prospect of major countries and regions are still imbalanced.

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Launch of IMF World Economic Outlook

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