A Deeper Look at Forces Fragmenting Our World—and How to Respond
The rare confluence of geopolitical, economic, and technological forces now confronting the world may reverberate for generations.
How to Help, Not Hinder Global Growth
Keynes, the IMF, and the Future
By Gita Bhatt
If Lord Keynes, who helped usher in the post–World War II economic order at the Bretton Woods conference, visited the IMF today, he would be astonished at the institution’s evolution. […]
Financing for Sustainable Development: Tackling Big Challenges
By Chris Lane
Without adequate financing, the best intentions of the global community expressed in the Sustainable Development Goals (SDGs) will remain beyond reach.
A Planet at Risk Requires Multilateral Action
by Signe Krogstrup and Maurice Obstfeld
December 3, 2018
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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 Earth’s climate and biosphere, policymakers will need to do more. […]
When History Rhymes
November 5, 2018
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The graves of soldiers who died in World War I, near Verdun, France: on the 100th anniversary of the end of the Great War, leaders should listen closely to the echoes of history (photo: Mathieu Pattier/SIPA/Newscom)
Mark Twain once said that “History never repeats itself, but it does often rhyme.” As heads of state gather in Paris this week to mark 100 years since the end of World War I, they should listen closely to the echoes of history and avoid replaying the discordant notes of the past. […]
Steering the World Toward More Cooperation, Not Less
By Vitor Gaspar, Sean Hagan, and Maurice Obstfeld
September 6, 2018
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With the world becoming more interdependent than ever before, countries can achieve a lot when they pull together (photo: Anton Sokolov/iStock by Getty Images)
Countries cooperate if they perceive it to be in their best interests, both economically and politically. […]
Trust and the Future of Multilateralism
By David Lipton
May 10, 2018
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Where trust exists and is reciprocated—where there is “confidence” in policies, institutions and systems—economies will achieve more (photo: iStock by Getty Images).
We live in an era of doubts and questions about the global order. We have seen an erosion of trust in bedrock institutions—political parties, national governments, regional authorities, and among international trade and investment partners. […]
A Fresh Look at Globalization
By David Lipton
There were a lot of dramatic headlines over the weekend suggesting that Brexit signals the beginning of the end of globalization. Surely, it is too soon to understand all the ramifications of the British referendum. But at the same time, today is surely a good day to make the case for multilateralism. While there are plenty of reasons to be concerned about the future, I will argue that globalization still has promise. But to achieve that promise, we will need a fresh look at multilateralism and the role the international financial institutions can play.