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Friction or cooperation? Boosting the global economy and fighting climate change in the post-pandemic era

Economics

Friction or cooperation? Boosting the global economy and fighting climate change in the post-pandemic era

Z. Yang, J. Wei, et al.

This research by Zhenshan Yang, Jianan Wei, and Quansheng Ge utilizes the GTAP model to explore how trade friction is affecting global economic recovery and climate change post-COVID-19. The study reveals that trade friction not only slows down economic recovery but also hampers CO2 emission reduction efforts, particularly impacting developing economies more severely.

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Playback language: English
Abstract
This study uses the Global Trade Analysis Project (GTAP) model to examine the effects of trade friction on global economic recovery and climate change after the COVID-19 pandemic. The findings suggest that trade friction delays economic recovery and hinders CO2 emission reduction. Developing and emerging economies are more significantly impacted by consumption reduction and production suspension, while developed countries are more affected by trade friction. Increased global trade barriers could lead to a simultaneous economic decline and increased or insufficient carbon emission reduction.
Publisher
HUMANITIES AND SOCIAL SCIENCES COMMUNICATIONS
Published On
Nov 25, 2023
Authors
Zhenshan Yang, Jianan Wei, Quansheng Ge
Tags
trade friction
economic recovery
climate change
COVID-19
CO2 emissions
developing economies
global trade barriers

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