The Global Economy after COVID-19

Abstract

[ ]trade and financial integration/globalization tend to have a positive correlation, as documented in some past studies [ ]the size of outstanding crossborder assets and liabilities is huge, as a result of financial transactions made in past decades [ ]some reversals in capital flows seen during COVID-19 will not affect the size of cross-border assets and liabilities in a major way [ ]financial globalization may help to slow down the de-globalization of trade after COVID-19 [ ]on dispute resolution, Hoekman does not need to remind us of the current sad state of the Dispute Settlement Understanding, and his main suggestion here is that reforms not be limited to only fixing the Appellate Body, but rather should include improving the panel process, though he does not say how to do that