A World Adrift
The annual spring meetings of the IMF and the World Bank have provided a window onto two fundamental trends driving global politics and the world economy: the shift to a multipolar world, and the physical limits to growth. Unfortunately, the level of global cooperation needed to meet the resulting challenges is nowhere to be seen.
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NEW YORK – The annual spring meetings of the International Monetary Fund and the World Bank have provided a window onto two fundamental trends driving global politics and the world economy. Geopolitics is moving decisively away from a world dominated by Europe and the United States to one with many regional powers but no global leader. And a new era of economic instability is at hand, owing as much to physical limits to growth as to financial turmoil.