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Rethinking trade and investment policies for sustainable development

International trade and investment are key means of implementation of the 2030 Agenda for Sustainable Development. Their benefits are well recognized, particularly in the developing economies of Asia and the Pacific, where trade and foreign direct investment (FDI) have been main engines of growth. However, there are rising public concerns about globalization in major developed economies, as recently evidenced by Brexit in Europe and the withdrawal of the United States of America from the Trans-Pacific Partnership. Policymakers need to more fully recognize that not everyone benefits from trade and investment liberalization, even as the overall economic pie expands as a result (IMF, World Bank and WTO, 2017; ESCAP, 2013). Additionally, the environmental impacts of international trade and FDI remain a long-standing concern.

Related Subject(s): International Trade and Finance
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