European Central Bank President Christine Lagarde noted that the global economy is moving towards dividing into two globally competing blocs, headed by the United States and China.
“We are seeing a fragmentation of the global economy into competing blocs, every bloc trying to unite as much of the rest of the world as possible around its strategic interests and shared values,” Lagarde said.
“It is very good that the two blocs led by the United States and China are the world’s two largest economies.”
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