Gallagher Publishes Op-Ed on Global Economic Recovery
Kevin Gallagher, Professor of Global Development Policy and Director of the Global Development Policy Center (GDP Center) at the Frederick S. Pardee School of Global Studies at Boston University, published an op-ed in Global Policy discussing the dire economic state around the world, in which he advice to President Biden on how to put the global economy and United States’ standing back on track.
In the article, titled “2021: Time for US Leadership on Multilateralism and a Sustainable Recovery,” Gallagher explains the Trump administration’s lack of interest in a multilateral response to the global economic crisis and how the Biden administration must put the U.S. economy on better footing in order to restore the country’s reputation on the world stage.
He offered up four steps for the new administration that would address the global economic downturn resulting from COVID-19 while improving U.S. standing abroad: endorse a new SDR allocation, trigger new concessional financing, pressure the private sector to engage, and link finance to a green and inclusive performance.
An excerpt:
Under the Trump Administration the United States stood in the way of a proper economic response to the COVID-19 crisis. Biden should stand up and lead by example. The US can reverse its resistance to an SDR allocation, provide new bilateral financing, and comprehensive debt relief through pressure on the private sector that is linked to climate and development outcomes.
Kevin Gallagher is a professor of global development policy at Boston University’s Frederick S. Pardee School of Global Studies, where he directs the Global Development Policy Center. He is author or co-author of six books, including most recently, The China Triangle: Latin America’s China Boom and the Fate of the Washington Consensus. Read more about Professor Gallagher on his Pardee School faculty profile.