3min chapter

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Raghuram Rajan: Climate Action and Continued Globalization Joined at the Hip (2022 Per Jacobsson Lecture)

IMF Podcasts

CHAPTER

Global Diversification and Climate Risk

The stable source of demand will be in that less climate-affected north than the climate-affected south. So if you want those countries to move out and have sensible livelihoods other than agriculture, you have to keep the globalization lifeline open. The answer is not friend-shoring or near-shoring but global diversification.

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