Monday , June 21 2021

Christine Lagarde's whip against the elite



Christine Lagarde, President of the International Monetary Fund, has expressed concern about world political evolution.

Christine Lagarde was worried. Not because of the global economic situation, which "is not worrying in the country" according to him. But faced with world political evolution, the rise of populist regimes and economic consequences that could occur. This is what the director of the International Monetary Fund (IMF) explained in an interview with Echoes.

He explained that the elites were not aware of the risks. "After the 2008 crisis, there was a sharp awareness of what needs to be done: regulating certain financial sectors, reviving the economy, rejecting protectionism, preserving and enhancing cooperation." Today, not the case. Financial regulation is back and forth, under the pretext of simplifying the laxism, "warned Christine Lagarde.

Also read Lagarde (IMF) highlights the dangers of trade war

"Donald Trump is right in many ways"

The former Minister of Economy developed the role that the IMF can play in the evolution of this political world: "The IMF considers that the answer is through more opening, especially on services (too given tariffs), which will enable productivity gains, but the point is that globalization must evolve with different ways, with greater respect for the rules of the game, as well as the environment and deliberate attention for the entry of people ".

So, for Christine Lagarde, Donald Trump has … "reasons in many ways". "Free competition must be & # 39; fair & # 39; in all fields," he said, joining the US president at this point. He even saw Trump win the war with China through free competition: "He has strong arguments, and his method, if supported by a win-win strategy, can help advance trade, but that won't happen. It's not easy" he said.

Also read the Italian budget: tensions are increasing between Rome and Brussels, the IMF is worried

Appeal to de-globalization

At a glance, he called GAFA to limit tax optimization and ensure that it did not believe in the outbreak of the euro area. This also supports the reforms launched by Emmanuel Macron: "On public expenditure reform that is important to us, the government must continue to develop copies." Apart from a series of plans, we wait to see how everything works. France has many assets and French hopes in the world are real and strong ".

Christine Lagarde concluded with a call to avoid de-globalization in the coming years: "We must find ways to reintegrate identity, culture and language into a more open global economy." Returning to the border of the old trade will be very dangerous. We need to rediscover another globalization, new multilateralism ".


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