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Global economic leaders expressed they hope Trump will change

Global economic leaders expressed they hope Trump will change

Leaders of the world’s largest economic organizations expressed hope Monday that the U.S. President, Donald Trump, would change his protectionist stance on international trade.

Addressing a joint press conference with German Chancellor Angela Merkel and leaders of world’s largest economic institutions, World Bank President Jim Yong Kim said they are optimistic about a change in Washington’s approach. “We have been engaging very directly with the Trump administration. And I think one of the things that President Trump prides himself on is he is flexible. And he has been known to change his mind,” he said.

Kim argued that global finance and economic institutions like the World Bank, IMF and Word Trade Organization have made important achievements so far, and continue to play an important role in the global economy and international trade. “We’re gonna make that case to President Trump and his whole team. And we’re optimistic that his flexibility will come through,” he said. Monday’s meeting in Berlin, which was hosted by Merkel, brought together the heads of the World Bank, International Monetary Fund, the World Trade Organization, the Organization for Economic Co-operation and Development and the International Labour Organization, amid widespread concerns over Trump’s plans for world economy, and promise for protectionist measures. IMF Managing Director Christine Lagarde defended multilateralism, and also tried to downplay concerns over Trump’s protectionist rhetoric, and his slogan “America first!”

“It was a well-known saying that no country has friends, all countries have interests. And this is not a new finding, it has regularly been the case,” Lagarde said at the press conference. She underlined the importance of international institutions and cooperation between the states to address the global challenges, such as epidemics, climate change or financial crisis. “These global issues know no barriers no borders,” she said. “Over the course of history, over and over, it has become clear that these issues are best addressed in a cooperative way, where we can leverage from each other, rather than suffer the spillovers of decisions that are made at home without concern with what happens at outside of home,” she added. Lagarde claimed that IMF’s assistance has been important to preserve the stability of many countries across the world, and this mission remains important for each and every country.