The Era of New Ideas: Multilateralism, Sustainable trade & Trade Ins
Global trade, which hit a record high of USD 28.5 trillion in 2021, is expected to grow steadily in 2022 and the coming years. Nationalist – as opposed to protectionist – trade policies are likely to continue to dominate. A new multilateralism is likely to take hold. Old forms of multilateralism are likely to fade, while new forms, such as increased regionalism, will drive cross-border trade in new sectors, including predominantly in digitalisation and sustainability. Bilateral, regional, and multiparty trade deals are increasing. Under the new trade paradigm, cross-border investment and trade will become increasingly market-seeking rather than efficiency-seeking. Developments in virtual assets, including central bank digital currencies, stand to reshape global finance, trade, and investment. Innovative technologies continue to drive productivity gains, sustainable development, and growth accelerations around the globe.
Are you on board with the new trends? If so, do you see them being a long term standard?