IMF, World Bank leaders meet to discuss global economy solutions

Global Business

IMF, World Bank leaders meet to discuss global economy solutions

The atmosphere at the annual meetings of the International Monetary Fund and World Bank has been somber. Global growth has been consistently underwhelming for some time.

So can some of the global economy’s most visible leaders find a solution?

CCTV’s Owen Fairclough reports.

IMF, World Bank leaders meet to discuss global economy solutions

IMF, World Bank leaders meet to discuss global economy solutions

The atmosphere at the annual meetings of the International Monetary Fund and World Bank has been somber. Global growth has been consistently underwhelming for some time. So can some of the global economy's most visible leaders find a solution? CCTV's Owen Fairclough reports.

Four of the biggest figures in global finance are wrestling with a fundamental problem about growth.

China is one of the few bright spots. Growth may be slowing as the economy is re-balanced to encourage more consumption and less waste from non-performing industries. But the central bank is optimistic

As developing country economies stall, they’re becoming more and more dependent upon countries like China for support.

And protectionism is on the rise as global trade declines. U.S. Republican presidential nominee Donald Trump and the architects of Brexit vote are among populist movements that are turning away from free trade.

There is at least consensus that investment in infrastructure will help.

But finding the money and the will to do this when global debt stands at $152 trillion, more than double the entire world’s output, remains a difficult sell.