RETHINKING GLOBAL RESILIENCE

The pandemic is straining economic and social fault lines: the only remedy is international cooperation An infected passenger flies from Wuhan to Milan, a computer virus invades an internet connection, subprime defaults in the US Midwest trigger a global economic crisis. There also is no major globa...

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Bibliographic Details
Published inFinance & Development Vol. 57; no. 3; pp. 4 - 9
Main Author Goldin, Ian
Format Trade Publication Article
LanguageEnglish
Published Washington International Monetary Fund 01.09.2020
Subjects
Climate change
Cooperation
Coronaviruses
COVID-19
Defects
Disease transmission
Economic crisis
Fossil fuels
Globalization
Infrastructure
International finance
Pandemics
Stockholders
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Summary:The pandemic is straining economic and social fault lines: the only remedy is international cooperation An infected passenger flies from Wuhan to Milan, a computer virus invades an internet connection, subprime defaults in the US Midwest trigger a global economic crisis. There also is no major global organization working on cybercrime, even though a single computer virus, such as WannaCry or NotPetya-whether produced by organized state agencies or lone-wolf individuals-can spread globally and cause billions of dollars of damage within days. China-centered institutions are becoming increasingly important, including the Asian Infrastructure Investment Bank and the constellation of bilateral agreements forming the Belt and Road Initiative. Facebook has emerged as a dominant distribution system for public health information, and Alibaba for personal protective equipment; Apple and Google lead Western attempts at app-based contact tracing.
ISSN:0015-1947
1564-5142