Lagarde Says Protectionism Is Darkest Cloud Over World Economy
- IMF managing director gives warning as U.S. makes new threats
- Global economy doing well, Lagarde tells world leaders
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The threat of trade protectionism is the biggest concern looming over a solid upswing in the global economy, IMF Managing Director Christine Lagarde said.
The “darkest cloud” on the economic horizon is the “determination of some to actually rock the system that has actually presided over the trade relationships that we have all undertaken and enjoyed to some extent over the last many decades,” said Lagarde. She was speaking on a panel with world leaders including Russian President Vladimir Putin, Japanese Prime Minister Shinzo Abe, French President Emmanuel Macron and China’s Vice President Wang Qishan in St. Petersburg, Russia, on Friday.