Choosing between US, China to bring less prosperity, more poverty: EU Central Bank chief

The rising political pressure on countries to choose between the United States and China would lead to less economic growth across the world and should be avoided by "all means," European Central Bank President Christine Lagarde was quoted by FOX news as saying on Sunday.

"There is clearly a competition between these large economies," Lagarde was quoted as saying on CBS's "Face the Nation," referring to the two nations.

The decoupling and the sort of bipolarization of the world would lead to less economic growth, less prosperity and more poverty across the world, Lagarde warned.

She voiced hope that the United States and China can engage in dialogue and warned that trade should not be confrontational.

Lagarde is a French politician and lawyer who previously served as managing director of the International Monetary Fund from 2011 to 2019.