You are here

Lagarde warns of "race to bottom" on trade, regulation, taxes

Friday, January 20, 2017 - 23:03

16-41224920 - 20_01_2017 - DAVOS WEF 2017.jpg
The head of the International Monetary Fund said on Friday that one of the biggest risks to the global economy in 2017 was "a race to the bottom" on taxes, regulations and trade, in an indirect reference to the policy plans of the incoming US administration.

[DAVOS] The head of the International Monetary Fund said on Friday that one of the biggest risks to the global economy in 2017 was "a race to the bottom" on taxes, regulations and trade, in an indirect reference to the policy plans of the incoming US administration.

"If the disruptions we are expecting for 2017 as a result of what has happened in 2016 prove to be all negative and we are to end up in a race to the bottom on the tax front, on the trade front, on the financial regulation front, then that for me would be a really big black swan that would have devastating effects," managing director Christine Lagarde told the World Economic Forum in Davos.

REUTERS

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom