Michele Ruta

Michele Ruta, an economist at the International Monetary Fund and editor of 'The State of Globalisation,' delves into the evolving landscape of global economic flows. He explains how these flows are being redefined rather than retreating and discusses the implications for trade policies and industrial strategies. Ruta highlights the concept of tariff jumping investments and the rise of connector countries as key players in modern supply chains. He also addresses the complexities of U.S.-China trade dynamics and the importance of adaptability in an uncertain global market.

In this discussion, Penny Goldberg, an economist at Yale known for her insights on trade's role in growth miracles, joins Michele Ruta from the IMF, who focuses on the implications of trade policies for developing countries. They explore why past trade-driven growth may not be replicable, diving into key factors like technology transfer, market access, and the evolution of global value chains. They also assess the impact of geopolitical shifts, rising industrial policies, and climate risks on future development prospects.