The Global Economy 2020.

Summary Each year, CEPII publishes in its "Repères" collection unpublished analyses of major global economic issues. The world economy is slowing down in the shadow of acute trade and geopolitical tensions, while international coordination is in tatters. Beyond Donald Trump's protectionism, we are witnessing a systemic trade crisis. Distrust of trade agreements is growing: but how do we evaluate them? This context is particularly unfavorable to international cooperation to save the climate. Yet the urgency is there. Will we act before it is too late? Ten years after the financial crisis of 2007-2008, financial fragility persists: what are the causes and can we counter them? Monetary policies remain very accommodating. Will central banks ever manage to normalize them? How can their objectives and instruments be reinvented? A final chapter this year deals with Turkey and the economic and political turmoil into which it is plunging. The statistical supplements place the recent data in a long-term perspective.