People's Bank of China hosts ECB President Christine Lagarde keynote on sustaining global cooperation in a fragmented world

The People's Bank of China published a briefing on a keynote delivered by European Central Bank President Christine Lagarde at the bank on maintaining global cooperation in an increasingly fragmented world. Lagarde drew lessons from historical international economic and trade conflicts, arguing that unilateral policy adjustments are unlikely to resolve global trade frictions effectively and that protectionism is not a remedy for trade imbalances, with solutions better pursued through dialogue and cooperation. Governor Pan Gongsheng attended and delivered remarks, with Deputy Governor Xuan Changneng chairing and Deputy Governor Zou Lan also present. Lagarde also answered questions from staff of the People's Bank of China and the State Administration of Foreign Exchange, and Yi Gang attended in his capacity as chair of the Chinese Finance Society and a vice chair of the National Committee of the Chinese People's Political Consultative Conference's Economic Committee.