IMF says fragmentation could cost global economy up to 7% of GDP

have further tested international relations and increased skepticism about the benefits of globalization,” the staff report said.

The unraveling of trade links “would most adversely impact low-income countries and less well-off consumers in advanced economies,” it said. The IMF said existing studies suggested that the deeper the fragmentation, the deeper the costs, with technological decoupling significantly amplifying losses from trade restrictions.

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