WASHINGTON: International Monetary Fund Managing Director Kristalina Georgieva warned on Thursday that the world may split into rival economic blocs, at a time when global growth is at a historic low both in the near and medium term, reported Sputnik.
"After decades of increasing global integration, there is a growing risk that the world may split into rival economic blocs ... This risk is rising at a time global growth is weak by historical standards—both in the near and medium term," Georgieva said at the Brussels Economic Forum.
Such a scenario would be bad for everyone, including for people in Europe, she added. — Bernama
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