Trade wars threat to global growth

World Bank and IMF heads urge countries to play by the rules

NUSA DUA, Indonesia - International Monetary Fund Managing Director Christine Lagarde on Thursday warned countries of the perils of a trade or a currency war, saying they could be detrimental to global growth and hurt "innocent bystanders".

Lagarde, at the outset of the World Bank's annual meeting with the IMF and other financial institutions, urged countries to "de-escalate" trade frictions and fix global trading rules, rather than abandon them.