On Wednesday, Angela Merkel, the German Chancellor while speaking at the World Economic Forum Annual Meeting in Davos, said that countries like India and China affecting the world economy much more today and that needs to be taken into account for having a relook at the global trade and financial systems.

She said, “Countries like China and India are affecting the global economy much more today and the global organizations need to take that into account.” In this matter, she has also mentioned the organizations like G20 and the Shanghai Cooperation Organization (SCO).

Ms. Merkel brought a shadow attack at the policies which are being adopted by the countries like the US and said, “There is a new approach in the world that says shouldn’t we look after our own, and ensure that our own are looked after.”

She also quoted that “I have great doubts about this approach. We should always remember that others have their own interests.”

Stating that there are a number of disturbances around the world, she said that the International Monetary Fund (IMF) has represented a gloomy picture of the global economy.

She added that politicians have got a lot to face and the banking industry has also lost a lot of credibility after the financial crisis.

“The global financial system has got damaged quite a bit and we need to do a lot to fix the things,” she said while noting that international bodies such as the World Trade Organization (WTO), IMF and the World Bank have very much contributed to making the world a better place.

She advised that we need to find out how to move forward and to respond to the wake-up call for the world.


Related Articles
Next Story
Latest International News

11-years-old girl found dead in Brampton, father detained

February 15, 2019
Going Viral
Those behind Pulwama attack “have made a big mistakes”, claims Prime Minister Narendra Modi

Those behind Pulwama attack “have made a big mistakes”, claims Prime Minister Narendra Modi

by Chandrani Sarkar February 15, 2019
Today, Prime Minister Narendra Modi warned those responsible for Pulwama attack in which over 40 CRPF jawans have lost their lived and would pay a ‘heavy price’, made a ‘big mistake’. With a hard-hitting comment at an official event, PM Modi said that security forces had been offered complete freedom to act against terrorist outfits and the country had total faith in their valor and courage. A heading a top-level...