The Trade Shifts Redefining Economic Development
As geopolitical tensions, technological changes, and a resurgent protectionism transform global trade, developing countries are finding it harder to replicate the export-driven growth miracles of the past. Fostering sustainable development in this new environment will require pragmatic, forward-looking solutions.
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NEW HAVEN/WASHINGTON, DC – Global trade is undergoing a profound transformation, driven by three major shifts. New technologies are redefining countries’ comparative advantages and the types of goods they produce and export. The revival of activist trade and industrial policies threatens to distort trade flows and provoke retaliatory measures. And escalating tensions risk fragmenting the global economy along geopolitical lines.