Cover Staff Discussion Notes
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Geoeconomic Fragmentation and the Future of Multilateralism
Author:
Mr. Shekhar Aiyar
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Mr. Jiaqian Chen https://isni.org/isni/0000000404811396 International Monetary Fund

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Mr. Christian H Ebeke
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Mr. Roberto Garcia-Saltos
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Tryggvi Gudmundsson
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Ms. Anna Ilyina
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Mr. Alvar Kangur
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Tansaya Kunaratskul
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Mr. Sergio L. Rodriguez
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Michele Ruta
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Tatjana Schulze
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Gabriel Soderberg
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Mr. Juan P Trevino
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Series:
Staff Discussion Notes
Volume/Issue:
Volume 2023: Issue 001
Language:
English
Publication Date:
15 Jan 2023
DOI:
https://doi.org/10.5089/9798400229046.006
ISBN:
9798400229046
ISSN:
2617-6750
Pages:
42
Keywords:
Geoeconomic fragmentation; globalization; global economic integration; geopolitical blocs; international monetary system; global financial safety net; multilateralism; costs of economic fragmentation; rules-based multilateral system.; IMF AREAER report; U.S. Dollar share; trade openness; trade agenda; share of Global Foreign Exchange; Capital flows; Trade barriers; Global
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After several decades of increasing global economic integration, the world is facing the risk of policy-driven geoeconomic fragmentation (GEF). This note explores the ramifications. It identifies multiple channels through which the benefits of globalization were earlier transmitted, and along which, conversely, the costs of GEF are likely to fall, including trade, migration, capital flows, technology diffusion and the provision of global public goods. It explores the consequences of GEF for the international monetary system and the global financial safety net. Finally, it suggests a pragmatic path forward for preserving the benefits of global integration and multilateralism
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Cover Staff Discussion Notes
Staff Discussion Notes
ISSN:
2617-6750
Publisher:
International Monetary Fund