The possibility of global economic governance in a period of great power rivalry
A structural shift is underway, running much deeper than the so-called trade wars that have been triggered by the US administration. Evidence of this trend starts to abound. In the past months, measures have been taken in places such as the US and the EU which will discourage the inflow of certain foreign investments, global companies have been induced to restructure their supply chains following geopolitical considerations and an increasing number of countries have been dismissing infrastructure projects with foreign funding.
The word digitalisation is on its way to become a buzzword that is not only used by techies but also by development professionals around the world. Just two years ago, in 2016, the World Bank devoted the World Development Report (WDR) to Digital Dividends, referring to the distribution of digitalisation benefits to a broader population. The WDR suggested inclusion, efficiency, and innovation as the main mechanisms through which digital technologies can promote development.
We are a long way from 2015. That year, the world committed to the Sustainable Development Goals and the Paris Agreement on climate – promising to end extreme poverty, address corrosive inequality, boost peace and prosperity, and stop climate change.
