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14. Changing course: Shift in policies needed to avert a global recession
This episode of The Weekly Tradecast talks about the Trade and Development Report 2022 with economist and author Richard Kozul-Wright, director of UNCTAD’s globalization and development strategies division.
UNCTAD's new report warns of tough times ahead if developed countries persist with current policies to fight inflation.
Rapid tightening of monetary policy in advanced economies and inadequate multilateral support for developing countries are pushing the world towards recession and stagnation. The damage, the report says, could be even worse than the financial crisis in 2008 and the COVID-19 shock in 2020.
Can the world change course to avert a new crisis? Listen to Mr. Kozul-Wright to find out what UNCTAD calls for.