Global governance

The problem with preferential trade agreements

Preferential agreements can be an alternative to a sclerotic WTO, but, if multilateral rules fail, they also risk conflict between trading blocs

Fully reimbursing SVB depositors may prove to be a bad move (via CNN)

Reimbursing all SVB and Signature Bank depositors — even if their deposits are worth millions of dollars will have long-term impacts.

The EU Net Zero Industry Act and the risk of reviving past failures

How the EU might respond to clean tech subsidies, in the form of a leaked draft law entitled the Net Zero Industry Act (NZIA), is deeply worrisome.

Two crises, two continents: how the labour-market impacts have differed

The US economy was more resilient against the two recent global crises, while the EU did better in terms of jobs during and after the pandemic.

Economic efficiency versus geopolitical resilience: strategic autonomy’s difficult balancing act

A timely analysis on the notion of strategic autonomy in the EU's industrial policy.

Li Keqiang’s farewell points to employment as China’s major problem

China's modest 2023 growth target provides more evidence of a focus on sustainable growth and jobs.

Is Europe failing on import diversification?

Despite a goal of economic self-reliance, the European Union’s imports are generally sourced from an increasingly limited set of suppliers.

Concessional climate finance: the Bridgetown Initiative

Don’t expect Asia to save the global economy in 2023

Southeast Asian economies, as well as India, are expected to decelerate, which will blur the positive impact of China’s reopening.

Conditionality in the global financial architecture

Will the European Union price cap on Russian oil work?

The G7 Russian oil price cap is an ambitious but untested instrument. While pitfalls exist, the cap has the potential to be the most potent sanction.