Yi Gang: Global economic developments, the outlook for China and the need for IMF reform Statement by Mr Yi Gang, Governor of the People's Bank of China, at the Ministerial Meeting of the 38th Meeting of the International Monetary and Financial Committee (IMFC), Bali, Indonesia, 14 October 2018. * * *  I.
Global Economic and Financial Development The global economy has continued to recover but the pace has become less synchronized, and growth momentum has weakened. Growth and inflation dynamics in major advanced economies have diverged recently. In the United States, growth has been strong. In the Euro Area, Japan, and the United Kingdom growth has slowed down.