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Geo-Economic Fragmentation and the Future of Multilateralism
Christian Ebeke , Gabriel Soderberg , Juan Trevino , Michele Ruta , Mr. Alvar Kangur , Mr. Christian H Ebeke , Mr. Jiaqian Chen , Mr. Juan P Trevino , Mr. Roberto Garcia-Saltos , Mr. Sergio L. Rodriguez , Mr. Shekhar Aiyar , Ms. Anna Ilyina , Sergio Rodriguez , Tansaya Kunaratskul , Tatjana Schulze , Tryggvi Gudmundsson
After several decades of increasing global economic integration, the world is facing the risk of policy-driven geoeconomic fragmentation (GEF). This note explores the ramifications. It identifies multiple channels through which the benefits of globalization were earlier transmitted, and along which, conversely, the costs of GEF are likely to fall, including trade, migration, capital flows, technology diffusion and the provision of global public goods. It explores the consequences of GEF for the international monetary system and the global financial safety net. Finally, it suggests a pragmatic path forward for preserving the benefits of global integration and multilateralism
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