The governor of the People’s Bank of China, Pan Gongsheng, called for strengthened multilateral cooperation during the International Monetary and Financial Committee (IMFC) meeting in Washington, D.C. this week. Addressing global finance leaders at the IMF’s Fifty-First IMFC gathering, Pan cautioned that weak economic momentum and rising protectionism threaten worldwide stability.
Pan emphasized that recent unilateral tariff actions—widely interpreted as a critique of U.S. trade policies—have disrupted global markets and undermined the multilateral governance framework. "The abuse of tariffs deals a heavy blow to the rules-based economic order," he stated, adding that developed economies and emerging markets alike face mounting risks from financial volatility.
The two-day meeting convened policymakers to discuss strategies for stabilizing the global economy and reinforcing the IMF’s role in crisis prevention. Pan stressed the need for coordinated responses to trade tensions and debt challenges, particularly in developing nations.
Analysts highlight China’s proactive engagement in global financial governance as a stabilizing force amid geopolitical uncertainties. The remarks align with Beijing’s longstanding advocacy for institutional reforms to better reflect the evolving economic landscape.
