IMF says AI demand boosted global trade, benefiting China and India
IMF chief economist Silvana Tenreyro said strong AI demand boosted trade growth in China, India and other Asian countries, outpacing overall global trade. Without the AI boost, trade would have grown far slower, she added, while urging countries to cut deficits and central banks to raise rates to cu
Strong demand for artificial intelligence has bolstered trade growth in China, India and other Asian countries, outpacing the overall expansion in global commerce, the International Monetary Fund's chief economist said on Tuesday.
Silvana Tenreyro told reporters at the annual meetings of the IMF and World Bank in Bangkok that global trade would have grown at a far slower rate without the boost from AI-related demand.
Tenreyro said the IMF remained concerned about high debt levels and urged countries to begin cutting budgets to reduce deficits. She also said central bankers should pursue more restrictive policies, including raising interest rates, to bring inflation rates back to target.
The comments come as the IMF and World Bank hold their annual gatherings in the Thai capital, with economic policymakers and financial leaders discussing the state of the global economy.