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Lagarde from Riyadh: Global Economy Growing at a Better Pace

International Monetary Fund chief Christine Lagarde attends the Future Investment Initiative conference in Riyadh, Saudi Arabia, on Tuesday. (Reuters)
International Monetary Fund chief Christine Lagarde attends the Future Investment Initiative conference in Riyadh, Saudi Arabia, on Tuesday. (Reuters)
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Lagarde from Riyadh: Global Economy Growing at a Better Pace

International Monetary Fund chief Christine Lagarde attends the Future Investment Initiative conference in Riyadh, Saudi Arabia, on Tuesday. (Reuters)
International Monetary Fund chief Christine Lagarde attends the Future Investment Initiative conference in Riyadh, Saudi Arabia, on Tuesday. (Reuters)

International Monetary Fund (IMF) chief Christine Lagarde said on Tuesday that the global economy is growing and forecasts point to a growth of 3.7 percent.

She announced during the Riyadh-hosted Future Investment Initiative that some economies are progressing steadily and exiting a tough stage.

Saudi Crown Prince Mohammed bin Salman met Lagarde to discuss possible coordination between the kingdom and IMF and to exchange opinions on mutual topics.

She stated that investments are increasing, stressing that some pivotal decisions must be taken during the next 50 years.

Lagarde noted that changes are not related to demographics or population because 50 years from now society will change and emerging economies and markets will appear in Asia and Africa. Currently, it is necessary to address two topics.

The first is climate change while the second is inequality. The IMF chief flagged imbalances between men and women, applauding however, recent positive developments in the Kingdom in this regard.

She added that the planet will face a dark future in 50 years if no procedures were taken towards climate change and growing global inequality.

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China Vows Tougher Action against Smuggling of Strategic Minerals

A woman holds an umbrella to shelter from the sun walks along a street in Beijing, China, Thursday, July 17, 2025. (AP Photo/Mahesh Kumar A.)
A woman holds an umbrella to shelter from the sun walks along a street in Beijing, China, Thursday, July 17, 2025. (AP Photo/Mahesh Kumar A.)
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China Vows Tougher Action against Smuggling of Strategic Minerals

A woman holds an umbrella to shelter from the sun walks along a street in Beijing, China, Thursday, July 17, 2025. (AP Photo/Mahesh Kumar A.)
A woman holds an umbrella to shelter from the sun walks along a street in Beijing, China, Thursday, July 17, 2025. (AP Photo/Mahesh Kumar A.)

China vowed on Saturday to step up a crackdown and toughen law enforcement against smuggling of strategic minerals seen as vital to national security and critical for development.

The remarks by the commerce ministry came a day after the state security ministry accused foreign spy agencies of having tried to "steal" rare earths and pledged to crack down on infiltration and espionage targeting the critical sector.

The world's largest supplier of dozens of strategic minerals, China began imposing export curbs in 2023 on supplies vital to sectors ranging from chipmaking and the energy transition to defense.

The commerce ministry remarks, describing smuggling and export of strategic minerals as a severe problem to be combated, came at a meeting of officials responsible for export control coordination and other government bodies.

"Cases of smuggling by a small number of criminals for their own selfish interests and collusion between domestic and foreign parties are still occurring," it said in a statement.

Evasive methods such as false declarations and third-country transshipment were taking on increasingly covert forms, it added, urging government bodies to prevent illegal outflows of strategic minerals and related technologies.

China has adopted a "zero-tolerance" approach to smuggling and export of strategic minerals, which it will fight with a heavy hand, through special efforts to toughen law enforcement, the ministry said.

In May China said it would strengthen controls on the entire supply chains of strategic mineral exports while tightening its grip on materials deemed crucial to national interest.

Earlier, Beijing launched a special campaign to tackle smuggling of strategic minerals such as gallium, germanium, antimony, tungsten and some rare earths.