Fragmentation will have severe implications for global trade and financial stability, Christine Lagarde warns Growing geopolitical tensions could accelerate the world economy’s deglobalization process, which would have far-reaching implications for all, European Central Bank (ECB) President Christine Lagarde warned on Friday. According to Lagarde, Europe is now at a critical juncture, facing a series of common challenges, including deglobalization, demographics, and decarbonization. “There are increasing signs that the global economy is fragmenting into competing blocs,” Lagarde told the European Banking Congress.
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