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The Progressive Policy Think Tank

Britain in the 2020s: Key facts - Deficit

The economic world order will become more fragile as globalisation evolves, trade patterns shift, and economic power gravitates toward Asia. At the same time, developed economies are likely to struggle to escape conditions of secular stagnation. The institutions governing the global economy are likely to come under intense pressure as the American hegemony that underpinned the postwar international order fades and the Global South rises in economic and geopolitical importance.