International Monetary Fund Managing Director Kristalina Georgieva warns against going overboard and harming global trade flows.
It’s one of the key reasons that the IMF predicts the global economy will stay mired in low-growth mode for years.
“Security of supplies and the reliable functioning of global supply chains is taking a new, higher priority seat in economic discussions,” she said, citing the impact of both the COVID pandemic and the war in Ukraine. But she warned against going overboard and harming“If we fail to be more rational, then people everywhere would be worse off. The middle class in each country would pay a price,” Georgieva said. “So a bit more cool-headedness would take us a long way.
But French Finance Minister Bruno Le Maire said it was important for France, the European Union, and the United States to secure supply chains for crucial goods like electric vehicle batteries and reduce their dependence on China. But he drew a distinction between “de-risking” supply chains and “decoupling” from China.
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