IMF boss says world trade system in danger of being torn apart

Lagarde says ‘darker clouds looming’ for global economy amid US-China tensions

The head of the International Monetary Fund has warned of “darker clouds looming” for the global economy amid simmering trade tensions between the US and China, urging governments around the world to steer clear of protectionism or face negative consequences.

Christine Lagarde said the current system for world trade was “in danger of being torn apart”, with the potential to upset the present global economic upswing and make consumers poorer.

Continue reading…