Chief economist: Achieving economic security requires the WTO

Economic security – in particular, a desire to limit a country’s vulnerability to supply chain disruptions – is in vogue with policymakers, but achieving it will require a “strong” World Trade Organization, the WTO’s chief economist argued this week, warning against policies that fragment the global economy. In a post published by the International Monetary Fund , Ralph Ossa notes that “reshoring and friend-shoring have become popular policy prescriptions, and talk of global fragmentation abounds.” But, he argued, “a strong...