Rewiring trade for a warming world
The challenge for policymakers is to build rules that function amid disagreement in a divided world. Dennis Snower discusses how COP30 can turn climate goals into trade rules
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Author: Op-ed
The rise and fall of globalisation
For over 400 years the world economy has seen greater globalisation. Steve Schifferes believes the weakness of international institutions and the limited visions of governments are not optimistic signs for the future of globalisation
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The shifting landscape of trade and investment
China’s BRI has reorganised global value chains. Yasuyuki Todo, Shuhei Nishitateno and Sean Brown reveal that the initiative has triggered strategic and divergent responses among major investor countries, depending on their economic and political relationships with China
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Can the World Trade Organization survive?
The foundations of the multilateral trading system have been shaken. Petros Mavroidis argues that reviving the WTO will require a determined effort from the key stakeholders to address issues that the membership has previously avoided
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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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The flawed rationale behind America’s reciprocal tariffs
The Trump administration imposed ‘reciprocal tariffs’ using powers granted under the International Emergency Economic Powers Act. Gene Grossman and Alan Sykes argue that the tariffs do not meet two core requirements for the exercise of emergency powers under the Act
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A threat to financial stability
Stablecoins have emerged as a major innovation with broad implications for payments and international finance. Richard Portes explores the risks such stablecoins pose to financial stability and measures that could contain these risks
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Act now before it’s too late
Cybercrime is now a national emergency. Jonathan Sharp says crimes will not stop unless we educate young adults of the dangers of cybercrime, and businesses ensure that its cybersecurity strategy is top of their agenda
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Trump’s tariffs as fiscal folly
In 2025 the US government underwent a large fiscal switch. Kimberly Clausing and Maurice Obstfeld evaluate tariffs as a broad tool of fiscal policy, reviewing both tax policy and macroeconomic considerations, and concludes that this fiscal switch will leave most Americans worse off
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An EU reparations loan is the right way to help Ukraine
There will be a post-war reconstruction of Ukraine. Charles Lichfield and Nicolas Véron examine how European Union countries should agree to back a clever financing workaround that would leave Russia’s assets untouched but leverage them to support Ukraine
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