New problems naturally cause new headaches. This increases the urgency and importance of finding new tools to deal with new challenges. Today, global governance must (…)The EU-China Forum on global governance
There is broad consensus in both Europe and China that global economic slowdown is a serious threat, which is complicated by current monetary policy responses to inflation as a result of both the Russia/Ukraine war and the end of the pandemic recession. Given the enormous challenges this poses for economic policies, a multilateral framework for managing problems of such proportions would be to the advantage all countries – advanced, emerging and developing. In reality, however, many of the most recent national choices have gone in the opposite direction, with scarce coordination and unilateral action – starting with the US Fed, whose interest rate adjustments have been especially impactful given the international role of the dollar.
