Lagarde on China’s Slowing Growth and What Trump Got Right on Trade
Oct.17 — Christine Lagarde, managing director of the International Monetary Fund, tells David Rubenstein that China’s slowing growth \”has to be under control\” to \”tame any risk of conflict.\” She also says that, while she disapproves of tariffs, she believes President Donald Trump is correct that some trade rules and issues \”need to be addressed.\” She speaks in the latest episode of \”The David Rubenstein Show: Peer-to-Peer Conversations\” in an interview taped Sept. 19 in Washington.
Lagarde criticized Trump’s policies
Former head of the International Monetary Fund Christine Lagarde said Donald Trump is responsible for many of the risks facing the global economy.
The future president of the European Central Bank also noted that the unpredictability of the American president made investors take less risk and indicated that the trade war between the United States and China would negatively affect the entire global economy..
Lagarde expects a decline in investment, jobs and rising unemployment. She calls on the leaders of both sides to sit down to the negotiating table and, finally, to conclude a trade deal. Lagarde also said that if Brexit does pass, then ripple effects will affect not only the UK and EU, but also the US due to the associated global economy..
Trump’s idea of building border walls has also been criticized.
«And what can walls do with pandemics? What Walls Can Do Against Terrorism? What walls can do to climate change and environmental destruction? This is not a solution to global issues and problems», – said the former head of the IMF.
Lagarde added that in the economy the future, women must play a central role as they better assess risks.
«Do you know how many women are bank presidents? Two percent. This is ridiculously low, because women all over the world are in charge of the family budget. And they do it pretty well. There is a clear correlation between good, sound governance, good risk-taking, and the number of women on board and executive boards», – she stressed.