World Economic Forum warns economic fragmentation could cost global economy up to $5.7 trillion.
A new World Economic Forum report warns that increasing economic fragmentation, driven by countries using global financial and trading systems for geopolitical purposes, could cost the global economy up to $5.7 trillion, more than the 2008 financial crisis and the COVID-19 pandemic combined. This could lead to reduced trade, lower capital flows, and increased inflation by over 5%. The report calls for policymakers to adopt economic policies that foster global cooperation and resilience to mitigate these impacts.
2 months ago
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