## Global Cooperation—An Uphill Battle: Finance & Development magazine

_IMF Blog, August 30, 2017_

## Source details

**Canonical URL:** [Global Cooperation—An Uphill Battle: Finance & Development magazine](https://www.imf.org/en/blogs/articles/2017/08/30/global-cooperation-an-uphill-battle-finance-development-magazine)

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## Bibliographic details
- Published: August 30, 2017

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### Major geopolitical and systemic risks highlighted
- Changing geopolitical environment could undermine the world’s ability to manage:
  - global money and trade flows
  - climate change
  - international terrorism
  - money laundering
  - pandemics
  - migration
- Observation by Harold James (Princeton professor and IMF historian): the postwar economic order appears to be under strain, including among "its main architects—the United Kingdom and the United States."

### International taxation
- Core problem: inability to agree on a common approach to rethink a framework that dates to "the 1920s."
- Consequence: multinational companies exploit tax competition among countries.
- Contributor: Michael Keen (IMF) discusses these issues in the issue.

### Financial regulation and fintech
- Despite "important strides in international regulatory collaboration," there are calls to roll back some reforms.
- Position: Tobias Adrian and Aditya Narain (IMF) argue that such rollbacks must be resisted "to keep the global financial system safe and sound."
- Fintech: described as a "brave new world of financial services" that "holds much promise" but "provides an even greater regulatory challenge for governments around the world."

### Crime, terrorism, and international collaboration
- Problem: international groups of criminals are often "two steps ahead of national law enforcement."
- Implication: the terror-crime nexus cannot be fought effectively without stronger international collaboration.
- Contributor: Douglas Farah (IBI Consultants) addresses this theme.

### Health, gender, and public finance
- Focus areas:
  - Investing more in women's health and education will boost economic development.
  - In an age of austerity, targeted changes in taxes and subsidies can improve public health without overburdening public budgets.

*Source: Global Cooperation—An Uphill Battle: Finance & Development magazine, August 30, 2017.*

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_Source: https://www.imf.org/en/blogs/articles/2017/08/30/global-cooperation-an-uphill-battle-finance-development-magazine_