TODAY'S EDITORIAL: Fine-tuning a new mentality
IN remarks during a luncheon on the sidelines of the World Economic Forum in Davos, Switzerland, on Tuesday, President Ferdinand 'Bongbong' Marcos Jr. said countries in the Asia-Pacific region should reject a 'Cold War' mentality to enhance stability and prosperity in the region.
The IMF was able to actually provide a broad estimate of the economic impact of fragmentation, a reduction of between 0.2 percent and 7.0 percent of global GDP, depending on how severe it is.To prevent this, the IMF makes a number of recommendations, which are not prescriptive but rather suggest 'best practice' in terms of an overall policy approach. 'To avert runaway fragmentation, the rules-based multilateral system must adapt to the changing world.
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