Over the last 70 years, the global economic order — underpinned by the International Monetary Fund (IMF), the World Bank and the World Trade Organization (and the GATT before that) — has created the conditions for a sustained period of growth and relative peace. That order is now at an inflection point. The rapid pace of technological progress and globalization means that there are now large swathes of economic activity that are either ungoverned or governed using outdated structures and rules, from the rise of instantly multinational internet companies to financial services and energy markets. That progress is in and …read more
Japan, Europe, and the Global Economic Order
