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Inequality breeds protectionism argues Lagarde
In a speech in Germany this week, the Head of the IMF Christine Lagarde has argued that persistently slow growth and rising inequality are factors encouraging protectionist sentiment. She wants oil-dependent exporters to diversify their economies and for countries to avoid creeping protectionism.
This speech came in the week that new data showed another year of slow world trade growth. According to the WTO, 2016 will be the fifth consecutive year of trade growth below 3%.