IMF boss Christine Lagarde calls turn away from globalisation world’s top challenge

In today’s world up is down, down is up, left is right and right is left. Retaining national sovereignty is now an offense to those who want to destroy it.

 

The risk of countries turning their back on global co-operation is the biggest challenge facing the world, as low growth and rising inequality fuel the rise of populism, said IMF managing director Christine Lagarde.

“It did not take the Brexit vote to understand that low growth, rising inequality, and a lack of jobs have combined with social and geopolitical concerns to fuel the rise of populism and inward-looking forces,” Ms Lagarde said in the text of a speech on Thursday at the Centre for Global Development in Washington. Continue reading