World economy is facing a new cold war, says IMF deputy chief Gita Gopinath By John-Paul Ford Rojas Updated: 17:01 EST, 11 December 2023 e-mail 2 View comments The world economy risks descending into a second Cold War that wipes out the benefits of three decades of peace and growth, a senior official at the International Monetary Fund (IMF) has warned. Gita Gopinath, the IMF’s second in command, said the fragmentation of nations into competing power blocs threatened ‘an annihilation of the gains from open trade’. Today the rivalry is not between the US and the Soviet Union but the US and China. And the world is at a ‘turning point’…
