China and Saudi Arabia have been named as two of the five economic areas that will participate in the International Monetary Fund?s efforts to resolve the world?s glaring trade imbalances. The other three participants will be the economic superpowers of the US, the eurozone and Japan.

The IMF said this week that this new group of five systemically important economic areas for the global economy would engage in its first ?multilateral consultations? aimed at ?how to address global imbalances while maintaining robust global growth?.