The Price of Fragmentation
We are living through turbulent times, in a world that has become richer but also more fragile. Russia’s war in Ukraine has painfully demonstrated that we cannot take peace for granted. A deadly pandemic and climate disasters remind us how brittle life is against the force of nature. Major technological transformations such as artificial intelligence hold promise for future growth but also carry significant risks.
Collaboration among nations is critical in a more uncertain and shock-prone world. Yet international cooperation is in retreat. In its place, the world is witnessing the rise of fragmentation: a process that begins with increasing barriers to trade and investment and, in its extreme form, ends with countries’ breaking into rival economic blocs—an outcome that risks reversing the transformative gains that global economic integration has produced.… Seguir leyendo »