Multilateral system: mitigating the effects of the crisis and preparing for a post-war global economy

First, the war in Ukraine is impacting the whole world. As such, it is not a local war with local effects only. It therefore needs to be viewed and treated in the context of global trade and development. This is likely to result in a move for reshoring, near-shoring and for ‘friend-shoring’ – either making strategically important goods at home or procuring them from allies. This will have implications for global trade and development.