The financial system is still under great pressure. Since the 2008 financial crisis, little has changed to dispel the existing concerns. IMF chief Christine Lagarde admits that the world economy is not in the best hands at the moment. It is also optimistic about the future of different Cryptocurrency.
The world economy is in bad shape
The economic crisis 2008 has shown the world how fragile the world economy really is. No country has been spared from the proverbial onslaught. Ten years later, many countries still recover from these setbacks. It seems that the situation is worsening over time. The recent development between the G7 and President Trump continues to confirm that the situation is not developing in a positive direction.
The G7 setback can prove to be quite problematic. The aim of the last meeting was to create a free, fair and mutually beneficial trading ecosystem. President Trump seemed to agree at first, but withdrew in the end. Instead, it shows signs of us-oriented isolationism, which will continue to break the fragile world economy.
IMF chief Christine Lagarde shares her concerns on this issue. She is convinced that Trump is questioning the way in which trade is operated and wants to harm the confidence of companies. In addition, Lagarde confirms that "dark clouds are forming" and the situation will continue to escalate. The tensions in the financial world are increasing, which also creates new opportunities for new assets to get to the top.
The IMF and the Cryptocurrency
Despite these ongoing fights in the financial sector, Christine Lagarde looks optimistically at Cryptocurrency. In concrete terms, she previously reported how Bitcoin can facilitate fast and cost-effective transactions. It is a solution that the financial industry has been looking for in recent decades. However, this currency will only be used worldwide if appropriate regulation is made.
According to the IMF chief, the "survivors" Cryptocurrency can play a role in this, as people save, invest and pay their bills. This in itself is already a big approval for bitcoin and other currencies.
There is little that the organization can do for President Trump to rethink his current stance. In addition, the positive attitude towards crypto-assets can have some interesting consequences in the coming years.
Whether Bitcoin can save the economy is a very different matter. Bitcoin is in the core a global currency, But there are still significant improvements to the scale (Bitcoin Lightning network) before BTC can be used to a greater extent.
