Sustained stability: Bailey attends the annual Mansion House dinner in London. The Bank of England governor is calling for greater cooperation between countries, particularly between China and the United States. — Reuters
WASHINGTON: US President Donald Trump’s trade war with the rest of the world is the wrong approach to addressing imbalances in the global economy and will harm households, Bank of England governor Andrew Bailey says.
In his annual Mansion House speech, Bailey called for greater cooperation between countries – particularly the United States and China – to resolve “unsustainable” trade and financial imbalances that are distorting economies and lie behind escalating political tensions.
