Christine Lagarde: Unwinnable Trade Wars
on Monday, April 9, 2018Christine Lagarde Money Quote saying attempting to win a trade war has been demonstrated to fail – history shows they are not possible to win. Christine Lagarde said:
“Economic history clearly shows that trade wars not only hurt global growth, but they are also unwinnable” — Christine Lagarde
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In this quote, Christine Lagarde seems to be warning against pursuing trade wars between nations. A few key points:
- She refers to clear evidence from “economic history” that trade conflicts harm overall global economic expansion and prosperity.
- Lagarde also asserts trade wars are “unwinnable,” implying no country fully achieves its objectives through such policies and all end up suffering consequences.
- The quote suggests trade barriers and tariffs adopted by some nations in hopes of gaining advantages over others will ultimately damage all countries involved as well as the broader international economy.
Overall, Lagarde appears to be arguing based on past precedent that trade wars should be avoided, as economic research and history have consistently shown they hurt growth and are not an effective means of achieving one-sided gains in international commerce. The message is cooperation tends to outperform confrontation when it comes to global trade relationships.