Emerging Markets Are Exercising Greater Global Sway

April 9, 2024--Policymakers must be ready to manage greater spillovers to the global economy as emerging markets' influence grows
The global economy is increasingly influenced by the Group of Twenty's large emerging markets. Over the past two decades, these economies have become much more integrated with global markets and are generating larger economic "spillovers" to the rest of the world.

At a time when growth prospects are weakening in China and several other large emerging markets, it is critical for policymakers-both in G20 emerging markets and those countries that could be impacted-to understand the channels through which a slowdown could propagate through the global economy.

Growth spillovers from domestic shocks in G20 emerging markets have increased over the past two decades and are now comparable to those from advanced economies, as we detail in an analytical chapter of the April 2024 World Economic Outlook. We also examine how such shocks spread through trade to companies and industries in other countries.

WTO issues new edition of World Tariff Profiles

July 7, 2025-The WTO published on 7 July the 2025 edition of World Tariff Profiles, which provides comprehensive data on the tariffs and non-tariff measures imposed by over 170 economies. It is a joint publication of the WTO, the International Trade Centre (ITC) and UN Trade and Development (UNCTAD).
The publication provides summary tables listing the average "bound" (maximum) tariffs and applied tariffs for each economy for both agricultural and non-agricultural products as of end-2024.

Flow Traders-Tokenization in Capital Markets: A Market Maker's Perspective

July 3, 2025-Tokenization unlocks efficiencies like instant settlement, 24/7 trading, and fractional ownership-but real-world adoption depends on solving infrastructure and regulatory challenges, not just technology.
Market makers face key friction points in tokenized markets: fragmented liquidity requiring pre-funding across blockchains, lack of product-market fit without real demand, and operational complexity from 24/7 trading.