Representative Image A recent working paper from the World Bank, developed by Kaleb Abreha from Texas A&M and Gladys Lopez Acevedo from the World Bank’s Poverty and Equity Global Practice, delves into the emerging dynamics of global trade restructuring and its far-reaching implications on labor markets and welfare. Prompted by rising offshore labor costs, advanced technologies, and unforeseen shocks like the COVID-19 pandemic and geopolitical tensions, this research examines how countries like the United States and European Union are reshaping their trade relationships. The analysis finds a significant pivot in U.S. imports from traditional suppliers like China to closer […]
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