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Tag Archives: WTO

Sub-Saharan Africa: We Need to Act Now

By Kristalina Georgieva and Abebe Aemro Selassie 中文, Español, Français, Português Sub-Saharan Africa is in the grips of a third wave of COVID-19 infections that threatens to be even more brutal than the two that came before. This is yet more evidence of a dangerous divergence in the global economy. One track for countries with good access to vaccines, where strong recoveries are taking hold. And another for those countries that are still waiting and at risk of falling further behind. The...

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Tentative Stabilization, Sluggish Recovery?

By Gita Gopinath عربي, 中文, Español, Français, 日本語, Русский In the October World Economic Outlook, we described the global economy as in a synchronized slowdown, with escalating downside risks that could further derail growth. Since then, some risks have partially receded with the announcement of a US-China Phase I trade deal and lower likelihood of a no-deal Brexit. Monetary policy has continued to support growth and buoyant financial conditions. With these developments, there are now...

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The Uneven Path Ahead: The Effect of Brexit on Different Sectors in the UK Economy

By Jiaqian Chen December 4, 2018 中文, Русский A UK border agency worker holds a passport: As a member of the European Union, free labor mobility has enabled the UK to hire talent from across the EU (photo: Mac Gregor/Reuters/Newscom) The United Kingdom is set to leave the European Union in March 2019. Our research suggests that all likely Brexit outcomes will entail an economic cost for the UK, and these costs would be unevenly spread across different sectors and regions. The UK’s...

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A Planet at Risk Requires Multilateral Action

Signe Krogstrup and Maurice Obstfeld  December 3, 2018 Español, Português A wolf in the snow: the planet isn’t crying wolf as man’s economic activities reach a scale where the global climate is at risk (photo: ImageBroker/ David MichaSheldon/Newscom) The COP-21 Paris Agreement limiting greenhouse gas emissions was a major achievement on the road to meeting the threat of climate change. But as the evidence becomes increasingly unambiguous that human activity is destabilizing the...

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The Long-Term Impact of Brexit on the European Union

By Jiaqian Chen, Christian Ebeke, Li Lin, Haonan Qu, and Jesse Siminitz August 10, 2018 Versions in Español, Français, A container ship entering the Port of Marseille, France: The UK is among the European Union's largest trading partners, accounting for about 13 percent of its trade in goods and services (photo: Gerard Bottino/Newscom) When the United Kingdom leaves the European Union, higher barriers to trade, capital flows, and labor mobility will affect output and jobs not only in...

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Creating a Better Global Trade System

By Christine Lagarde May 29, 2018 Versions in عربي,  Русский     Engineers inspect the 3D printing of a bicycle frame in California: trade in services has risen dramatically and the use of technology is changing how countries trade with each other (photo: Stephen Lam/Reuters /Newscom). Recent news on global trade has tended to focus on protectionist measures and diplomatic tensions. These challenges have raised concerns over growth and jobs across the world. Yet what is often lost in...

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Tariffs Do More Harm Than Good at Home

By Maurice Obstfeld Version in Español (Spanish) A longstanding challenge for the global economy is the possibility that some countries compete for export markets through artificially low prices. Political leaders and pundits sometimes propose import tariffs to offset the supposed price advantages and exert pressure for policy changes abroad. What proponents often fail to realize is that such tariff policies, while certainly hurting their targets, can also be very costly at home. And...

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