Ex-premier and former European
Central Bank President Mario Draghi on Wednesday told a panel of
the HSBC Global Investment Summit in Hong Kong that it is not in
Europe's interest to build a tariff wall if US President Donald
Trump does, Bloomberg reports.
Europe is more vulnerable to potential shocks in an
international trade war compared to the United States and China,
Draghi reportedly said.
The former Italian prime minister was also reported as telling
the panel that Germany's decision to increase defence spending
is a "game changer", warning however about the risks of
implementing such a policy.
Draghi expressed concern over the way the European Commission
would manage the policy change.
If not overseen properly, the scheme could lead Germany to rearm
but not the others, he warned.
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