1、Growth,Debt,and Climate:Realigning the Global Financial Architecture 2023ANDTRADEDEVELOPMENTREPORTPart I 2023,United Nations All rights reserved worldwideRequests to reproduce excerpts or to photocopy should be addressed to the Copyright Clearance Center at .All other queries on rights and licences,

2、including subsidiary rights,should be addressed to:United Nations Publications405 East 42nd StreetNew York,New York 10017United States of AmericaEmail:publicationsun.orgWebsite:https:/shop.un.org/The designations employed and the presentation of material on any map in this work do not imply the expr

3、ession of any opinion whatsoever on the part of the United Nations concerning the legal status of any country,territory,city or area or of its authorities,or concerning the delimitation of its frontiers or boundaries.Mention of any firm or licensed process does not imply the endorsement of the Unite

4、d Nations.This publication has been edited externally.United Nations publication issued by the United Nations Conference on Trade and DevelopmentUNCTAD/TDR/2023(Advance copy)ISBN:978-92-1-002908-7eISBN:978-92-1-358486-6ISSN:0255-4607eISSN:2225-3262Sales No.E.23.II.4.24iiiTable of contentsTable of co

5、ntentsTable of contentsChapter ICurrent Trends and Challenges in the Global Economy:Stalling or Falling?.1A.Introduction.3B.Global growth landscape:Divergence under the clouds of uncertainty.5C.Leading economies in an interdependent world.9D.Corporate capture and the demise of fiscal policy.12E.Cred

6、it,investment and the role of monetary policy.15F.Inflation and distribution.19G.Labour costs and inequality .23H.Conclusion.25References.30Chapter IIInternational Markets:Trade,Capital Flows,Commodities.33A.Introduction.35B.Trade.351.Review of recent cyclical developments in international trade.372