Nusa Dua: Indonesian President Joko Widodo on Friday took aim at tensions between big economies like the US and China, saying trade wars are an invitation to destruction.
In Pic: Indonesian President Joko Widodo
Widodo said sparring between big powers was causing turmoil in financial markets at a time when attention should be focused on slowing growth and disruptions from new technologies.
"The balance of powers and the alliance among major economies are breaking down. Weakness in coordination and cooperation has caused many problems including the dramatic rise in the price of crude oil and turmoil in the currency market of the developing economies," Widodo said.
"When the great houses are busy fighting each other, they fail to realise the upcoming threat from the north in the shape of an evil winter, which wants to destroy the world with ice and destruction. With that threat, they have to finally realise that it is not important to sit on the iron throne but to unite power to defeat the evil winter," he added.