Rajive Jain

Economic Developments

Trends in Global Flows in an Interdependent World

Ours is an interdependent world, connected by global flows of goods, services, capital, people, data, and ideas. Over the past decade, newer flows linked to knowledge and know-how have come to the fore. Despite the disruption caused by the COVID-19 pandemic, most global flows continued to grow—or even accelerated—in 2020 and 2021. Global value chains have long been dynamic but with very gradual shifts in composition. Further moves to decouple technologies and restrict data flows could also influence value chains, especially those that are deemed critical to national strategic priorities.