Opinion (Christine Lagarde, Managing Director of the International Monetary Fund): “The world must act now to prevent a ‘1930s moment’ and a ‘downward spiral’ into economic catastrophe, the International Monetary Fund warned last night

“Mrs Lagarde said: ‘We could easily slide into a 1930s moment, a moment where trust and cooperation break down and countries turn inward, a moment ultimately leading to a downward spiral that could engulf the entire world.’

“Mrs Lagarde added: ‘But what we must all understand is that this is a defining moment. It is not about saving one country or region. It is about saving the world from a downward economic spiral. The longer we wait, the worse it will get. The only solution is to move forward together. Our collective economic future depends on it.’”

Comment: If we admit that the entire world is completely interdependent and, through imposing restrictions on any communication with the non-aligned, oblige all the countries to be integrally connected, which is quite real today, we will be able to establish joint management of the world economy, raise the income of the needy to the level of subsistence, create a system of upbringing of an integral society, and not only overcome the crisis, but also lead people to happiness.
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