Deputy Prime Minister and Minister of Foreign Affairs Phạm Bình Minh. — VNA/VNS Photo Văn Điệp Deputy Prime Minister and Minister of Foreign Affairs Phạm Bình Minh granted an interview to local media to share his thoughts on Việt Nam’s foreign affair activities in 2019 and 2020. What are your impressions of 2019 and predictions for 2020? 2019 was the year the global economy’s growth started to stall, with growth below 2.5 per cent, a very concerning development, 10 years since the global financial crisis in the 2008-09 period which resulted in a growth of about 2.9-3 per cent according to the International Monetary Fund (IMF). One of the reasons for this low growth is the slowing down of developing countries’ economies. But overall, fingers can be pointed at contracting global trade, which is directly tied to rising protectionism and trade tensions, especially between China and the US, the escalation of which was not seen in previous years which were dominated by economic liberalisation and integration. Even if the two most powerful economies could reach either a complete truce or a number of partial measures, protectionist policies – between the two or elsewhere in the world – are not going… Read full this story
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