politics

Leaders of IMF, World Bank defend globalization

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By MARTIN CRUTSINGER and PAUL WISEMAN

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Christine Lagarde, the managing director of the International Monetary Fund, said that the answer to the wave of populism gaining support in many countries was to work for "more growth and better growth" in the world economy.

No, what the world actually needs now is well-managed degrowth. In other words, a more mature economy not obsessed with GDP - but an economy that puts societal and environmental needs before the relentless profit needs of the market.

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