The global economy has shown resilience despite heightened uncertainty, supply side shocks, and geopolitical risks, but downside risks remain significant. Andrew Bailey says that sustaining growth and financial stability will require innovation, openness, international cooperation, and strong global institutions
Defining the new strategic direction
The EU needs a new trade policy strategy. Ignacio García Bercero writes that a turbulent January exposed EU trade strengths and fissures, demanding rapid anti-coercion action and smarter leverage of trade deals
The sane insanity of digital sovereignty
Every major economy is now hedging against digital dependence. Matthew Kilcoyne examines digital sovereignty and the economic risks of uncoordinated fragmentation across global technology markets
Talking ’bout next generation
The international and technological frontier for retail payments is advancing. Sarah Breeden sets out how the Bank of England is leading the design of the UK’s next generation retail payments infrastructure, while also supporting private sector innovation in the interim
Promoting the ideas of freedom
Javier Milei discusses the relationship between economic efficiency, ethics and public policy, drawing on economic and philosophical traditions to argue that justice and efficiency are interconnected
CBDC and monetary sovereignty
Calls for a digital euro increasingly invoke monetary sovereignty. Lucrezia Reichlin argues that an effective defence of monetary sovereignty will continue to depend on regulation, fiscal capacity, and the ECB’s willingness to absorb risk when it matters
Tax
Has the global minimum tax survived Trump?
It is accepted that international tax competition is harmful. Pascal Saint-Amans writes that US objections have not killed off the 15 percent global minimum tax, but they have altered it and given the US a competitive advantage
Balancing profit shifting and investment
The global minimum tax represents the most ambitious international effort in decades to curb profit shifting to tax havens. Katarzyna Bilicka, Michael Devereux and Irem Güçeri argue that profit shifting doesn’t just affect tax revenues, it alters investment incentives, creating fundamental trade-offs that cannot be ignored
Sanctions without borders?
Thematic sanctions are being increasingly used as a foreign policy tool. Henrietta Worthington and Jaime Rosenberg consider the benefits and challenges for multinational organisations operating across jurisdictions
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World Commerce Review Volume 19 Issue 4
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