International Monetary Fund Managing Director Kristalina Georgieva attends a news conference following a meeting at the Federal Chancellery in Berlin, Germany, on Nov 29, 2022.The leaders of the International Monetary Fund and the World Trade Organisation on Tuesday warned against the negative impact of deglobalisation for the global economy, arguing instead for smart moves to diversify supply chains.
"But don't throw the baby out with the bathwater," she said. "Don't pull the plug on trade that makes us all better." "Retreating from trade, being protectionist will make it harder - not easier - to solve the problems we have now," Okonjo-Iweala said. "Protectionism, decoupling, fragmentation is very disruptive and it will be very costly."
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