A more fragmented world economy is here to stay, warns the European Central Bank's president.
at the International Monetary Fund and World Bank spring meetings.If the geopolitical instability and supply disruptions of the last three years amount to a new normal, it will make it hard — maybe impossible — for policymakers to keep their economies on an even keel.
"But that period of relative stability may now be giving way to one of lasting instability resulting in lower growth, higher costs and more uncertain trade partnerships," she said.The pandemic and war in Ukraine already created massive disruptions to global supply. Climate concerns and deepening tensions between the U.S. and China could make those kinds of problems more routine.
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