SouthViews No. 201, 23 June 2020
The Weakness of Economic Multilateralism
By José Antonio Ocampo
The weakness of multilateral cooperation was evident at the meetings of the Group of 20 and the Bretton Woods institutions in Washington. The limited international cooperation contrasts with the ambitious domestic policies adopted by some developed countries, and in particular the United States, to manage their crisis. The big losers will be the emerging countries, for whom cooperation has so far been minimal.
La debilidad del multilateralismo económico
Por José Antonio Ocampo
La debilidad de la cooperación multilateral fue evidente en las reuniones del Grupo de los 20 y las instituciones de Bretton Woods que tuvieron lugar en Washington. La limitada cooperación internacional contrasta con las ambiciosas políticas internas que han adoptado algunos países desarrollados, y en particular los Estados Unidos, para manejar su crisis. Los grandes perdedores serán los países emergentes, para quienes la cooperación ha sido, hasta ahora, mínima.
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The Weakness of Economic Multilateralism/La debilidad del multilateralismo económico
This article was tagged: Bretton Woods Institutions (BWIs), Coronavirus, COVID-19, Debt Sustainability, Economic Crisis, Emerging Economies, European Union (EU), Group of 20 (G-20), International Cooperation, International Monetary Fund (IMF), Low Income Countries, Middle Income Countries, Multilateral Development Banks (MDBs), Multilateralism, Pandemic, Reform of the International Financial System, Special Drawing Rights, Tax Cooperation, United States (US), World Bank
