US, China should cooperate on supply chains: Ex-IMF official
China and the US should work together on a range of issues including stabilizing global supply chains and coordinating their monetary policies, a former top International Monetary Fund official said.
“The US and China should and can work together on stabilizing global supply chains,” Zhu Min, previously deputy managing director of the IMF, said Saturday at the China Development Forum, an annual conference hosted by the Chinese government. He cited rising geopolitical tensions that threaten to hurt global economic growth and financial stability as the major reasons for better cooperation.
On monetary policy, it’s also very important for the two sides to work closely, he said, adding they should coordinate if any further stimulus package is planned since inflation is coming back faster and stronger than expected.
Other areas of collaboration include global trade, governance issues and the digital economy, he said.
Zhu, who was also previously deputy governor of the People’s Bank of China, is currently the chairman of the National Institution of Financial Research at Tsinghua University.