News Snapshot:
Fragmentation of the global economy into rival trading blocs runs the risk of prompting a new cold war, the head of the International Monetary Fund has said. Kristalina Georgieva, the IMF’s managing director, said a combination of the Covid pandemic, the war in Ukraine and shortcomings with globalisation had led to a potentially dangerous splintering. “What we have learned from Covid-19 and the war is that security of supply and the reliable functioning of global supply chains are taking a higher priority in economic discussions and decision making,” she said. Georgieva was speaking after fears of fragmentation were heightened by...
