In the News
Deglobalisation risks hurting economic growth everywhere
Kenneth Rogoff writes that deglobalisation is going to hurt growth everywhere, not least in the United States.
Not news, as such, but some of the implications of this are going to become clear in the next few years.
It's not so much that he's an unequivocal supporter of current models of globalisation; indeed, he argues that the current model needs resetting, but he sees a post-pandemic world as requiring co-operation to tackle the major issues of the day, not least climate change.
Here is a key section of his article:
"For smaller economies and developing countries that are unable to reach critical mass in many sectors and often lack natural resources, a breakdown in trade would reverse many decades of growth."
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