World Bank President David Malpass was speaking at an event in Warsaw on Tuesday.
- said cross-border trade would remain important to the global economy
- China had a big role to play as both a consumer and producer of goods
- Asked about whether China was headed for a crisis due to severe COVID-19 lockdowns and debt problems in its property sector, Malpass said: "They're having setbacks, major setbacks in various areas, and the forecasts for growth have been brought down."
- countries around the world are working to diversify their supply chains and reduce their dependence on China, which is "probably good for everyone,"
Malpass also had comments on the '"Bretton Woods moment" debate that seems to have gripped some quarters:
- U.S. dollar at the core of the global system at present "works pretty well"
- Info via a Reuters report, here is the link for a little more.
