Christine LaGarde, the new head of the IMF, is making waves. Speaking in Beijing she warned that the global economy could be heading towards an alarming “lost decade”.
Lost decade is the well-known phrase often used to describe Japan’s years of economic stagnation. She was making her point with a phrase that invokes the recognisable worst. Calling on advanced economies to implement structural reforms, she also called on China to boost domestic demand and allow its currency to appreciate.
Strong words from the former French finance minister who was previously reassuring us that the eurozone crisis was under control.
The PR Verdict: “A Minus” for Christine LaGarde.
While your comments may have rattled the markets you have established yourself as a straight talker. Having identified the problem you gave a clear call to action. A perfect PR pitch. Let’s see if governments take any notice.
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