The International Monetary Fund (IMF)’s first deputy managing director has warned of the risk of Cold War II. Noting that in the Cold War, it was the U.S. and the Soviet Union, the IMF official stressed that now it is the U.S. and China. “If fragmentation deepens, we could find ourselves in a new Cold War,” she cautioned.
IMF Official Warns of Cold War II
International Monetary Fund (IMF) First Managing Deputy Director Gita Gopinath discussed “Cold War II” in her speech on Monday at the 20th World Congress of the International Economic Association in Colombia.
The IMF official began by stating that she believes we are “at a turning point.” She then discussed whether we are “on the brink of Cold War II,” citing historian Niall Ferguson’s argument that it has already begun. She analyzed the “parallels and differences between the Cold War and today” to explore this question, adding:
In the Cold War it was U.S. and Soviet Union, now it is U.S. and China. But the sta
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