Do you worry that the more questions you ask… Lagarde: And by the way, central bankers can do quite a bit. Like what? If you force, for example, financial institutions or ask for them to stress test climate change, how much complexity does that actually.
We worked hard to determine the reasons for this shortfall. About half of it can be explained by weak global trade and composition changes in US demand, but the rest is unclear. So, in our outlook, we now assume that longer-term structural issues, such as lost export capacity and competitiveness challenges, are responsible for the remainder.