Christine Lagarde: Unwinnable Trade Wars

Christine 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

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.

Christine Lagarde: Central Banks Digital

Christine Lagarde Money Quote saying as Director of IMF, that people may ask banks to provide stable on reliable cryptocurrencies if private forms don’t stabilize. Christine Lagarde said:
 

“If privately issued virtual currencies remain risky and unstable, citizens may even call on central banks to provide digital forms of legal tender” — Christine Lagarde

Christine Lagarde said that citizens may call on central banks to provide digital forms of legal tender if privately issued virtual currencies remain risky and unstable.

Central banks providing digital currencies could offer citizens a safer and more reliable payment option compared to private cryptocurrencies that are volatile in value.

Some of the reasons citizens might want this are for stability of payments, security of funds, and usability of money in both online and offline transactions.

Christine Lagarde: Prefer Virtual Currencies

Christine Lagarde Money Quote spoke as director of the International Monetary Fund (IMF) that people may want the option to use cryptocurrency because it is similar to cash. Christine Lagarde said:
 

“Citizens may one day prefer virtual currencies, since they potentially offer the same cost and convenience as cash—no settlement risks, no clearing delays, no central registration, no intermediary to check accounts and identities” — Christine Lagarde

Christine Lagarde says people may prefer virtual currencies to cash because they offer some of the same benefits as cash, according to the article.

Specifically, virtual currencies like cryptocurrency potentially offer the same low costs and convenience as cash, without the drawbacks of cash like settlement risks, clearing delays when making transactions, and the need for intermediaries to verify accounts and identities.

So in summary, Lagarde believes virtual currencies could be as easy and inexpensive to use as cash, without certain transactional problems associated with physical money.