BoJ Governor Haruhiko Kuroda said that global economy would recover in the second half as he arrived for the G20 finance ministers meeting in Washington yesterday. He said, “our baseline scenario is that the global economy will recover in the latter half of this year, and achieve sufficiently high growth next year.”
Also, he defended rule-based multilateral trade system. Kuroda warned that “protectionism benefits neither the United States nor China.” He urged “both countries, as well as each G20 economy, must make efforts to solve problems based on the understanding that free trade under World Trade Organization rules has brought enormous benefits to the global economy.”
