Mend the Liberal Economic Order Before It’s Too Late
• "Economic policymakers in rich and poor countries alike are contending with a host of challenges: high inflation, financial fragility, fiscal stress, broken supply chains and mounting geopolitical uncertainty. In the background, less acknowledged, there’s an overarching problem. The value of multilateral cooperation — and the institutions tasked to deliver it — is itself in doubt."
• "Last week’s meetings of the International Monetary Fund and World Bank were an opportunity to start serious repairs. It was squandered. Issues demanding closer collaboration duly presented themselves, but without exception were left unresolved. Leaders of the Group of Seven countries have another chance at their summit next month in Japan. While they still can, they should rededicate themselves to energetic multilateralism — and start mending the institutions on which it depends."

Source : Bloomberg Businessweek April 24,2023 , Page 5