The Weekly Tradecast by UN Trade and Development (UNCTAD)

14. Changing course: Shift in policies needed to avert a global recession

This episode of The Weekly Tradecast talks about the Trade and Development Report 2022 with economist and author Richard Kozul-Wright, director of UNCTAD’s globalization and development strategies division.
UNCTAD’S new report warns of tough times ahead if rich countries persist with current policies to fight inflation. Rapid tightening of monetary policy in advanced economies and inadequate multilateral support for developing countries are pushing the world towards recession and stagnation. 
The damage, the report says, could be even worse than the financial crisis in 2008 and the COVID-19 shock in 2020. 
Can the world change course to avert a new crisis? Listen to Richard to find out what UNCTAD’s report calls for.

13. Beyond GDP: Is it time to end our obsession with economic growth?

This episode of The Weekly Tradecast talks about economic growth and how we measure it with Anu Peltola, officer-in-charge of statistics at UNCTAD. 
For nearly 80 years, data on Gross Domestic Product (GDP) has been the barometer of a country’s success and prosperity. Growing economies tend to have higher standards of living, while shrinking economies usually mean job cuts, financial pressure and hard times.
But the benefits of growth are not universal, and the impact of climate change raises serious questions about the links between growth and carbon emissions.  
Listen to Anu to find out if it’s time to rethink how we measure our economic success.  

12. Ghosts of recessions past: Is history repeating itself?

This episode of UNCTAD’s Weekly Tradecast looks at recessions past and possibly present with Anastasia Nesvetailova, head of UNCTAD's macroeconomic and development policies branch. 
High energy prices, rising interest rates and volatile financial markets – it’s starting to look a lot like 2007, the start of the Great Recession that led to millions of people losing their homes, jobs and savings. It was the worst downturn since the Great Depression of the 1930s. 
Warnings of impending financial doom are widespread right now. Listen in to Anastasia to find out if history really is repeating itself. 

11. Drowning in debt: How developing countries can survive the crisis

In this episode of The Weekly Tradecast, we’re talking about the global debt crisis with economist Penelope Hawkins, a senior economic affairs officer in UNCTAD’s debt and development finance branch.
Many developing countries were already struggling to stay afloat after taking on more debt during the pandemic.
Now, with the war in Ukraine, the economic waters are more turbulent.
Interest rates are rising and the burden of borrowing is even heavier.
When the costs get too severe, governments must divert spending from health, education and other public services essential for development.
Will they get a lifeline to keep them from drowning in debt? Listen to this episode of The Weekly Tradecast to find out.

10. Taxing issues: What’s fair for multinationals?

This episode of The Weekly Tradecast talks about why multinational companies need to pay their fair share of tax, with Bruno Casella, a senior economist in UNCTAD’S investment and enterprise division.
Nobody likes to pay taxes, but giant corporations are adept at moving profits to places where they pay the lowest rates.
To counter that, 140 nations and jurisdictions are working on a deal to enforce a corporate tax rate of at least 15%. 
That could bring in extra tax revenue of $150 billion a year.  
Tune into the discussion with Mr. Casella to find out what this money would mean for economies hit by the war in Ukraine as they try to recover from COVID-19.

9. Scammed: Are online marketplaces safe?

The ninth episode of UNCTAD’s Weekly Tradecast talks about protecting consumers in an increasingly online world with Teresa Moreira, head of UNCTAD’s competition and consumer policies branch.
The COVID-19 pandemic has revolutionized the way we shop. During lockdowns, huge numbers of us went online to buy food, clothes, household goods and entertainment. 
That convenience is now part of our lives and in how we spend as more people use credit cards and "buy now, pay later" options at checkout.
But consumers face many risks as online shopping grows – not least as the world struggles with a cost-of-living crisis.  Listen in to Teresa to find out what to do if you’ve been scammed and how to tell whether an online marketplace is safe.

8. Blue Deal: Charting a new ocean economy

This episode of The Weekly Tradecast explores how blue diplomacy can help protect our ocean with David Vivas, an UNCTAD legal officer working on trade and environment issues.
The ocean and its ability to sustain life are in grave danger due to human activities, such as pollution and overfishing.
This year’s United Nations Ocean Conference held in Lisbon worked to chart a course for a Blue Deal to safeguard the economic and environmental sustainability of the seas.
As Mr. Vivas says, with at least 3 billion people depending on marine resources for their livelihoods, it’s crucial that we create a sustainable and resilient ocean economy that benefits us all.

7. War and price: The cost of rising inflation

In the seventh episode of The Weekly Tradecast we’re talking about inflation with Jeronim Capaldo, an economist in UNCTAD’s globalization and development strategies division.
Every day in the news, we’re hearing about a global slowdown and how the war in Ukraine is driving up prices at a pace not seen in decades.
Other forces are also fuelling inflation – including supply disruptions hanging over from the COVID-19 pandemic and severe weather that has ruined harvests.
High inflation causes damage by eating up more of people’s pay and eroding their savings. It can even bring an economy to its knees – like in Germany after World War One and in Zimbabwe not that long ago.
Jeronim says developing countries, where people already spend much of their money on the basic necessities of life, are the ones who suffer most as prices soar.