German Chancellor Angela Merkel warned Saturday against protectionist tendencies of US President-elect Donald Trump, citing lessons learned in the 2008 global financial crash and stressing the need cooperation and united action.
“My profound conviction is that there are more advantages … to moving forward together than when everyone resolves their problems for themselves,” she told a press conference at a meeting of her CDU party.
Asked if she believed “protectionist tendencies” by Trump could pose a threat, Merkel recalled the example of the 2008 global financial crisis, which “came from the United States.”
“As heads of state and government [of the G20], we said: ‘We must resolve the problem facing us together,’” she said.
“And the response to overcome that financial crisis was not a response based on closing oneself off, but a response which called for cooperation, for common rules, for regulation of financial markets.”