The World Bank warned that a trade war between the US and China will hurt economies in Southeast Asia since they rely on exports for growth. The globalized system that has transformed the world over the last generation is at risk of being completely dismantled amid aggressive turns toward protectionism, warned International Monetary Fund (IMF) Managing Director Christine Lagarde during a speech at the Asia Global Institute in Hong Kong Wednesday. President Donald Trump, in a surprising reversal, told a gathering of farm state lawmakers and governors on Thursday morning, that he was directing his advisers to look into rejoining the multilateral trade deal known as the Trans-Pacific Partnership, a deal he pulled out of within days of assuming the presidency.