Economic Consequences of War: Downsides All Around

There were diplomatic casualties in the UN, European Union and NATO before a shot was fired in Iraq. Will international economic and trade agreements, globalisation and economic growth become victims too.

The World Today Published 1 May 2003 Updated 21 October 2020 4 minute READ

Brigitte Granville

The feeling that we may be at the end of ‘globalisation’ is in sharp contrast to the spirit and hopes after September 11 2001. That attack concentrated the minds of western policy-makers on its economic origins and, in particular, the threat global poverty poses to international security. The continued liberalisation of the multilateral world trading system in the rules-based framework of the World Trade Organization (WTO) was seen as the most readily available way to tackle this underlying cause.

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