Christine Lagarde says Trump is hurting global economic stability
Christine Lagarde, former head of the International Monetary Fund, says President Donald Trump is responsible for many of the risks facing the global economy and warns that the rise of nationalism is not the answer to economic fears.
Lagarde – confirmed last week as the next President of the European Central Bank – was broadcast on Sunday night on CBS & # 39; 60 Minutes, & # 39; said Trump's unpredictability has forced investors to stop taking risks and that the US-China trade war should give a major haircut to the global economy. "
" Market stability should not be the subject of a tweet here or a tweet there. It requires thought, thinking, quiet and measured and rational decisions. "
“If you shave, you know almost a percentage growth which means less investment, less jobs, more unemployment, reduced growth. So of course it has an impact, "she tells John Dickerson in CBS News. Lagarde urged policy makers to "please sit down like big men" and make a deal.
Lagarde said that if Brexit finally goes through, the ripple effects will affect not only the UK and the EU, but also the United States due to linked global economy.
The same link makes nationalism ̵[ads1]1; a concept that Trump has touted – self-defeating, she said.
“International trade, relations, movement of people and movement of capital have taken hundreds of millions out of poverty. Now someone in the advanced economies might say, "Puh. What do I care?" Well, of course we care about the person next door. if my neighbors from across a border feel desperate, hungry, fighting, it will have consequences at home. "
"What can walls do with pandemics?" She asked. “What can walls do with terrorism? What can walls do with climate change and environmental degradation? This is not the answer to the global and interconnected questions, whether we like it or not. ”
Lagarde added that in order for the economy of the future to prosper, women must play a central role. Women assess risk better, she said, and more women should be in executive roles.
"Poverty is sexist, and we have to remember that and make sure women are not forgotten," she said.
