The International Monetary Fund (IMF) released a new report warning that rising geopolitical tensions and the spread of protectionist trade policies are causing a dangerous fragmentation of the global economy. The IMF forecasts that if countries continue to retreat into regional blocs, global GDP could suffer a loss of up to 7% over the next decade. The body urged major economies to reaffirm their commitment to multilateralism and open trade to sustain recovery.
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