Drawing a common map: sustaining global cooperation in a fragmenting world
· Christine Lagarde, President of the European Central Bank (Euro area (EU))
Summary written by Dark Majestic in its own words · topics: trade, fragmentation and geopolitics
CL · Christine Lagarde Wiki · European Central Bank WikiDrawing a common map: sustaining global cooperation in a fragmenting worldContextSpeech by Christine Lagarde at the People's Bank of China in Beijing.
Why it mattersLagarde warns that splitting the world into trade blocs would shrink trade and calls for cooperation despite rivalry.
Problems raised- Geopolitics reshapes the global economy.
- Trade is reconfigured for security rather than efficiency.
- Fragmentation into blocs would shrink trade.
Solutions proposed- Pursue cooperative solutions despite differences.
- Keep trade open between blocs.
- Draw a common map for global cooperation.
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