Economic Buzz: Trade is no longer engine of global growth says IMF's Kristalina Georgieva

Kristalina Georgieva IMF Managing Director has noted that global trade is no longer the engine of global growth it used to be. In a speech titled Asia?s Next Growth Frontier, she opined that we are in the midst of massive transformations, from rapid advances in AI to changing patterns of capital flows and trade. The world is changing; many countries face weaker growth prospects and are saddled with high public debt. The COVID-19 pandemic and recent geopolitical developments have brought into focus the importance of security of supplies. Against this background, governments worldwide are shifting their priorities. The new US administration is rapidly reshaping its policies on trade, taxation, public spending, deregulation, and digital assets. And other governments are also recalibrating their approaches and adjusting their policies.

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