European Central Bank Lagarde
  • We are witnessing a fragmentation of the global economy into competing blocs, with each bloc trying to pull as much of the rest of the world closer to its respective strategic interests and shared values.
  • we may see more instability as global supply elasticity wanes
  • we could see more multipolarity as geopolitical tensions continue to mount.
  • The data do not show substantial changes in the use of international currencies

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