Increasing trade protectionism around the globe is the biggest threat to global economic growth, Bank of Japan Governor Haruhiko Kuroda says.
div > div.group > p:first-child"> "There [is] some sort of protectionism" around global trade, Kuroda told CNBC's Sara Eisen in an interview that aired Monday."That is I think most serious risk involved in the global economy."
The Chinese made unprecedented proposals on forced technology transfers, a sticking point in the negotiations, Reuters reported earlier. Treasury Secretary Steven Mnuchin also said on Sunday the U.S. is open to facing penalties if it doesn't comply with an agreed-upon trade deal. However, Mnuchin also said Monday the two sides still have lots of work ahead of them.
"By the way, [the] IMF world economic outlook main scenario does assume the U.S.-China trade conflict will not worsen," Kuroda said. If it worsens, it could lead to a different outlook for the global economy.
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