We live in a world where big economic shocks can test the strength and resilience of the framework for monetary policy. Andrew Bailey discusses monetary policy in a world with big shocks, describing how scenario analysis can enrich monetary policy deliberations
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Mobility is important in the global knowledge economy. Linguère Mously Mbaye argues Africa can leverage mobility to enhance its innovation capacity and foster economic growth
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Lesetja Kganyago discusses the strengths, achievements, and challenges of the G20, particularly focusing on how process issues hinder effective policy formulation, emphasizing the need for a more focused agenda and streamlined processes to enhance the G20’s effectiveness
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The European defence and climate agendas are not entirely in conflict. Simone Tagliapietra writes that beyond the debated public spending trade-off between defence and climate goals lie converging interests which should form the basis for a common defence and climate agenda
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The European Union should form an international open trade coalition in response to Trump’s tariffs, says André Sapir. A formal commitment to open rules-based trade by the EU and likeminded countries is essential to respond to today’s dangerous new trade reality
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We no longer live in a world where the reserve status of the dollar hinges on the US current account. Biagio Bossone says that status now depends on the credibility of US institutions, the depth of its markets, and the robustness of the infrastructure that underpins the global dollar system
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The tariff measures represent a seismic shift in the global trading landscape. Simon Evenett and Johannes Fritz discuss how the US has moved away from rules-based trade governance toward a results-oriented and probably a more transactional approach
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If Trump’s trade policy is the earthquake, the long-standing hardships confronting America’s middle class are the tectonic plate shifts that made it inevitable. Richard Baldwin considers US trade hesitancy
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Trump’s tariff announcement marks a turning point. Ignacio García Bercero argues that the European Union should work with Indo-Pacific and Global South trade partners to tackle US protectionism and push for WTO reform
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Reciprocal US tariffs undermine the transatlantic economy. Moreno Bertoldi and Marco Buti consider US tariffs, and argue that the impact of phased tariffs on US goods and services is worth the immediate cost to Europe
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