Global Financial Leaders Dispute New World Order

Global finance leaders, including ECB's Christine Lagarde, disagreed with Canadian PM Mark Carney's assertion of a new, coercive world order. At Davos, discussions highlighted identifying global governance's weaknesses rather than ruptures. Leaders stressed resilience and adaptability amidst ongoing change, rejecting a return to the old global framework.

At the World Economic Forum in Davos, financial leaders pushed back against Canadian Prime Minister Mark Carney's assertion that a new coercive world order is emerging. ECB President Christine Lagarde and others argued for identifying weaknesses in the current system rather than expecting a rupture.

WTO chief Ngozi Okonjo-Iweala emphasized resilience and adaptability, noting that while uncertainty persists, nations should not expect a return to the previous global order. Instead, they must invest in strengthening regional and national frameworks.

IMF Director Kristalina Georgieva urged embracing change, acknowledging ongoing shocks in global governance. The leaders collectively stressed the importance of adaptability and maintaining focus amidst critiques and evolving dynamics.

(With inputs from agencies.)