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Global economic chiefs split over rich-world call for resilience

By Enda Curran

14 Apr 2023 · 4 min read

Editor's Note

Global finance chiefs gathered this week to discuss the outlook for the economy. As Bloomberg reports, their discussions highlighted the growing influence of geopolitical struggles on growth rates.

Global finance chiefs, gathering in Washington little more than a year after the shock Russian invasion of Ukraine, are drawing sharply different conclusions about the biggest risks to the outlook, in a split showcasing the rising role of geopolitical struggles in the world economy.

The key takeaway among rich, democratic nations: the need for more “resilience” in supply chains, to ensure their economies are better insulated from risks ranging from war and pandemics to attempts at coercion by authoritarian regimes. But others, including the International Monetary Fund, are warning against a “fragmentation” of the global economy into competing blocs that hurts growth.

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