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Indonesian president says trade wars too destructive

Indonesian President Joko Widodo says trade wars between big economies are an invitation to destruction

Reported by: AP [ Published on: October 12, 2018 9:30 IST ]
Image Source : AP Indonesian president says trade wars too destructive

NUSA DUA, Indonesia (AP) — Indonesian President Joko Widodo has taken aim at tensions between big economies like the U.S. and China, saying trade wars are an invitation to destruction.

Widodo said sparring between big powers was causing turmoil in financial markets at a time when attention should be focused on slowing growth and disruptions from new technologies.

He spoke Friday at a meeting of the International Monetary Fund and World Bank in Bali, Indonesia, that comes amid an unnerving spate of turmoil in world financial markets.

In an allusion to the popular TV series "Game of Thrones," Widodo said victory is pointless in a "sinking world."

Finance ministers and central bank governors of the Group of 20 industrial nations were due to issue a statement on their talks later Friday.

Disclaimer: This is unedited, unformatted feed from the Associated Press (AP) wire.

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