$5.7 trillion threat: How global fragmentation could hit India and emerging economies hard
Emerging markets like India, Brazil, and Türkiye, along with nations in Africa and Southeast Asia, would bear the brunt of the economic burden, facing GDP losses of over 10% due to their dependence on an integrated global financial system.
As states increasingly use the global financial system to advance geopolitical objectives, there is a risk of financial system fragmentation. This report aims to measure the costs of fragmentation and proposes frameworks to both protect the integrity of the global financial system – emphasizing the eight important principles that underpin the effective functioning of financial services globally – and design economic statecraft policies that protect national security and sovereignty without reducing global prosperity.
Recommendations for policy-makers action these frameworks and offer pathways for designing a financial system that reflects the economic and geopolitical dynamics of the 21st century, ultimately making a case for the immense opportunity provided by enhanced coordination and integration.
The Navigating Global Financial System Fragmentation report represents a call to action from the private sector to protect the global financial system’s most essential elements, establishing the necessary conditions for efficient capital markets and enabling continued economic growth.
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