Fragmentation across the world could cost the global economy up to 7% of GDP, according to a new report by the IMF.
Both situations have caused international disruption to financial, food and energy supplies, with additional trading restrictions adding to the discord between regions.
It also lists restrictions on cross-border migrations, reduced capital flows and a decline in international cooperation as different types of fragmentation.The IMF does not expect all countries to feel the impacts of fragmentation equally. "Instead of catching up to advanced economy income levels, the developing world would fall further behind," the report says.
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