ECB President: "Overheated US-China Competition Hinders Global Economic Growth"

Lagarde: "Pressure to Choose Between US and China Intensifies
International Relations Must Be Reciprocal for Smoothness
Concerns Over Increased Poverty if Global Community Divides"

Christine Lagarde, President of the European Central Bank (ECB), warned that as political pressure intensifies for the international community to choose between the United States and China, global economic growth rates could decline and poverty could accelerate.

On the 16th (local time), in an interview with CBS, President Lagarde was asked about the US-China conflict and the resulting loss of international influence by the United States. She said, "There is clearly competition among economic powers," but emphasized repeatedly, "I hope the United States and China will engage in dialogue, as international trade cannot occur in an adversarial relationship."

Christine Lagarde, President of the European Central Bank
[Photo by Yonhap News]

She went on to warn that choosing either the United States or China would only lead to economic deterioration. This is because in a polarized international community, not only politics but also trade and finance cannot function smoothly.

President Lagarde stated, "If the international community becomes divided and polarization deepens, economic growth rates will decline, prosperity will decrease, and poverty will increase. I believe this is something that must be avoided."

Recently, Europe has experienced cracks over its anti-China stance as some countries have responded to China's repeated overtures.

On the 9th, after returning from a visit to China, French President Emmanuel Macron expressed the view that Europe should maintain an independent stance on the Taiwan issue, which drew criticism within the European Union (EU). Until now, European leaders have emphasized the prohibition of China's use of force against Taiwan. Macron's remarks were perceived as breaking the anti-China solidarity within European society, provoking strong backlash.

This conflict is expected to deepen divisions within the EU caused by the US-China conflict in the future. China is attempting to coax European countries, which have traditionally been allies of the United States, into a pro-China stance under the pretext of economic cooperation. France's AFP news agency analyzed Macron's remarks on Taiwan, saying, "His comments risk angering the United States" and "show divisions within the EU regarding the approach to China."

This content was produced with the assistance of AI translation services.