Finance

US, China must ‘step up’ to lead the world during the coronavirus crisis

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Chinese President Xi Jinping (R) waves to the press as he walks with US President Donald Trump at the Mar-a-Lago estate in West Palm Beach, Florida, April 7, 2017.

Jim Watson | AFP | Getty Images

Both the U.S. and China have to “step up to the plate” and provide global leadership at a time when the world’s poorest countries are in trouble due to the pandemic, said a distinguished economist.

The coronavirus outbreak, which has led to countrywide lockdowns globally, has done “extreme damage” to the global economy, said Raghuram Rajan, a finance professor at the University of Chicago’s Booth School of Business.

“I think the most important difference is: who has been able to stand?” he said, at…



Source cnbc.com

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