Making the Best of a Post-Pandemic World
Insofar as the world economy was already on a fragile, unsustainable path, COVID-19 clarifies the challenges we face and the decisions we must make. The fate of the world economy hinges not on what the virus does, but on how we choose to respond.
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CAMBRIDGE – The global economy will be shaped in the years ahead by three trends. The relationship between markets and the state will be rebalanced, in favor of the latter. This will be accompanied by a rebalancing between hyper-globalization and national autonomy, also in favor of the latter. And our ambitions for economic growth will need to be scaled down.