Global finance ministers see rising trade tensions between the United States and China as a major threat facing the world economy. ———11:50 a.m.German Finance Minister Olaf Scholz says Germany is committed to resisting all forms of protectionism' at a time when tensions over trade have been rising and the United States and China seem on the brink of a trade war. He said that trade has lifted millions of people out of poverty and protectionist measures will harm trade and growth. IMF Managing Director Christine Lagarde told reporters on Thursday that "the near-term prospect for the global economy appears to be bright." But clouds are already gathering: An intensifying standoff between the United States and China threatens to flare up into the biggest trade conflagration since World War II, and there are record levels of global debt.

Source: ABC News April 20, 2018 16:42 UTC