Is the global economy in better shape than we expected in 2024? The International Monetary Fund’s latest projections show growth holding up amid slowing inflation—but geopolitics could easily play spoiler.
The IMF’s First Deputy Managing Director, Gita Gopinath, says the world is at a turning point. In her latest essay for Foreign Policy, she writes that the risks of a fragmenting world driven by “friendshoring” and “de-risking” could end up overwhelming the benefits—and even lead to a new Cold War.
How should countries assess these risks? And beyond that, what should the world expect from major economies such as the United States, China, Japan, and India in 2024? Watch this in-depth discussion with Gopinath for answers.
The IMF’s first deputy managing director, Gita Gopinath, explains that while diversifying supply chains is an important step for countries, there are also real risks involved, and it can be a slippery slope.
The IMF’s no. 2 on how much Washington is to blame for the growing trend of fragmentation and explains the risks of retaliatory actions taken by countries in response to subsidies on certain products.
Gopinath breaks down the state of the global economy, saying the world is in a good place, but warning central banks to move cautiously on cutting rates.
Gopinath on the fund’s assessment of China’s economic troubles and its impact on the world economy.
Gopinath offers her assessment of why Russia’s economy managed to grow and transform into a wartime economy, and what the future might hold.
When asked about unfreezing Russian assets to reconstruct Ukraine, Gopinath warns that any action of the sort would need “sufficient legal support.”
Gita Gopinath
First deputy managing director, International Monetary Fund
Gita Gopinath is the first deputy managing director of the International Monetary Fund.
Host
Ravi Agrawal
Editor in chief, Foreign Policy
Ravi Agrawal is the editor in chief of Foreign Policy, the host of FP Live, and a regular world affairs analyst on TV and radio. Before joining FP in 2018, Agrawal worked at CNN for more than a decade in full-time roles spanning three continents, including as the network’s New Delhi bureau chief and correspondent. He is the author of India Connected: How the Smartphone Is Transforming the World’s Largest Democracy.
