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Within the three months since Russia invaded Ukraine, we have now witnessed the U.S., the EU, and different economies transfer in live performance to impose probably the most sweeping financial sanctions measures in trendy historical past on Russia. Given the dimensions of the Russian financial system, these measures have been unprecedented not solely of their scope however within the magnitude of cooperation amongst Western companions. These sanctions and excessive ranges of coordination among the many West sign a probably new stage in financial globalization. On the one hand, the dangers of financial interdependence have been laid naked as international locations have demonstrated a willingness to deploy an arsenal of nonmilitary instruments to create prices for adversaries pursuing overseas coverage targets not contemplated by the rules-based worldwide order. However, the scenario raises essential questions on what alternatives for related cooperation might exist to grapple with different vital current and rising worldwide financial challenges. It stays to be seen how international locations will adapt to this new actuality and what this implies for financial globalization going ahead.
On June 27, the World Financial system and Growth program at Brookings will co-host a digital occasion with the American Enterprise Institute to discover what circumstances existed to provide complete cooperation among the many U.S. and its allies within the context of the scenario in Ukraine and classes realized, and what this will imply for the way forward for the worldwide financial system and globalization.
Viewers can submit questions through e mail to occasions@brookings.edu or through Twitter utilizing #EconomyAfterUkraine.
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