US trade spat needs 'constructive solutions'
China's central bank governor Sunday sought to cool the temperature on a brewing trade-and-currency war with the United States, calling for "constructive solutions" as the spat threatens to knock the world economy.
Speaking on the last day of the IMF-World Bank annual meetings in Bali, Yi Gang warned that the stakes could hardly be higher and cautioned that a clash between the world's two biggest economies was a "lose-lose" situation.
"Trade tensions...cause negative expectations, negative uncertainties," the People's Bank of China head told a seminar with other top central bankers on the Indonesian holiday island.
"There are tremendous uncertainties ahead of us.
"The whole world should work together to seek constructive solutions," he added.
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