Christine Lagarde, the head of the European Central Bank, told the World Economic Forum on Friday that she is “not exactly on the same page” as Prime Minister Mark Carney, who told the crowd this week that the international rules-based order is past the point of no return. (Bloomberg, The Logic)
Talking point: “I’m not sure that we should be talking about rupture,” Lagarde said in Davos, Switzerland. “From an economic and business point of view, we depend on each other,” she said, adding that both the supply and demand side can have positions of strength. Ngozi Okonjo-Iweala, director-general of the World Trade Organization, said “global trade rules have been undermined,” but the system is strong. “It will take a lot to destroy it,” she said. Separately, U.S. Treasury Secretary Scott Bessent encouraged Albertans who want to separate from Canada to “come down into the U.S.”
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