Prelims

Half Title Page

International Trade, Economic Crisis and the Sustainable Development Goals

Title Page

International Trade, Economic Crisis and the Sustainable Development Goals

Edited By

Tonmoy Chatterjee

Bhairab Ganguly College, India

United Kingdom – North America – Japan – India – Malaysia – China

Copyright Page

Emerald Publishing Limited

Emerald Publishing, Floor 5, Northspring, 21-23 Wellington Street, Leeds LS1 4DL

First edition 2024

Editorial matter and selection © 2024 Tonmoy Chatterjee.

Individual chapters © 2024 The authors.

Published under exclusive licence by Emerald Publishing Limited.

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A catalogue record for this book is available from the British Library

ISBN: 978-1-83753-587-3 (Print)

ISBN: 978-1-83753-586-6 (Online)

ISBN: 978-1-83753-588-0 (Epub)

Dedication

To my little princess Trishita (Buri).

List of Figures and Tables

List of Contributors

Preface

Foreword

The complex international context, with increasing polarization among groups of nations, creates additional critical issues in the achievement of the Sustainable Development Goals (SDGs) on top of the overlapping food, health, energy and economic shocks of recent years that have pushed tens of millions of people into poverty. The State of the 2030 Agenda for Sustainable Development Report explains that for 50% of the SDGs progress is insufficient or at risk, while for 30% of them (especially those related to poverty, hunger and the climate crisis) the situation is stagnant or has even worsened from seven years ago. Halfway through the 2030 Agenda so many targets are seriously off track. Progress in recent years has been slow and uneven within and among countries. The SDGs index fell from 64% in 2015 to 66% in 2019. Then, with the onset of the pandemic, progress stopped. By 2022, the index was 67%. At current trends, based on simple projections, there is a risk that the gap between high- and low-income countries will be wider in 2030 (29 points) than in 2015 (28 points).

Another aspect that should not be overlooked is the tightening of global financial conditions, which has been devastating especially for countries with high debt. Rising interest rates and borrowing costs in international markets have increased the risk of default. During the pandemic, rich countries were able to afford to invest in recovery and returned to their previous growth paths; their recovery spending was 30 times higher than that of developing countries and 610 times higher than that of least developed countries (LDCs), which could only afford $20 per person. The gap between rich and poor countries is thus widening further, and for the first time, after years of optimistic interim reports, the 2030 Agenda targets are in danger of not being met. This volume aims to examine the critical issues emerging as a result of the economic crisis by highlighting a wide range of crises, including some relevant issues, such as the pandemic crisis, the Russia-Ukraine war crisis and the financial crisis. In order to find a way out of the possible obstacle of the crisis on the SDGs, this book suggests several international trade policy measures with the addition of growth elements. To pursue this goal, the editor has divided the analysis into three parts or sections: Economic Implications of the Crisis on Sustainable Development Goals (Section 1), Recent Developments due to the Pandemic Crisis Development on Sustainable Development (Section 2) and Issues in International Trade, Crisis and Sustainability (Section 3).

The contents of this book are thus highly relevant to measuring and suggesting responses to the major asymmetries in the contemporary world, and can also play a significant role in determining policies at the margin of crises.

Prof (Dr) Enrico Ivaldi

Libera Università di Lingue e Comunicazione IULM, Milano (Italy) and Centro de Investigaciones en Econometria – CIE University of Buenos Aires (Argentina)

Acknowledgements

Bringing this book to fruition has been a profound journey – one marked by the tireless dedication of numerous individuals who have generously contributed their time, expertise and unwavering support. We are immensely grateful for their contributions and commitment to the vision of this book, ‘International Trade, Economic Crisis, and the Sustainable Development Goals’.

First and foremost, we extend our deepest gratitude to the distinguished authors whose scholarly contributions form the backbone of this volume. Your insights, research and thoughtful perspectives have illuminated the complex interplay of international trade, economic crises and the Sustainable Development Goals. Your dedication to the advancement of knowledge in these crucial areas is truly commendable.

We would also like to thank our peer reviewers, whose meticulous feedback and constructive criticism played an invaluable role in shaping the quality and depth of the chapters within this book. Your expertise and commitment to academic rigor have enriched the content in profound ways. Our heartfelt thanks go to the entire editorial team, whose collective efforts were instrumental in bringing this project to fruition. Your tireless work in coordinating submissions, managing timelines and ensuring the overall cohesion of the book are greatly appreciated.

Several friends and colleagues have provided feedback on previous versions of the book or offered their support in various ways. I want to express my gratitude to Ramesh Chandra Das, Debolina Saha, Subhasis Bhattacharya, Manabes Majumdar and others for their valuable assistance and encouragement. I would like to extend my gratitude to the Department of Economics at the Bhairab Ganguly College for offering a well-equipped environment where I dedicated my time to both learning and teaching economics. I want to give special recognition to Dr Subhranil Som, Principal, for his support and cooperation.

To the production and design teams, thank you for transforming our ideas into a beautifully presented book. Your creative talents have given life to our vision. We would like to express our gratitude to the publishing professionals who have been instrumental in shepherding this project from concept to reality. Your guidance, patience and support have been invaluable.

This project would not have been possible without the support and understanding of our families and loved ones. I am profoundly appreciative of my wife, Namrata, who assumed numerous responsibilities in our household while I was immersed in the preparation of the manuscripts. Your patience during late nights and weekends spent on this endeavor is deeply appreciated.

However, any remaining mistakes or omissions are solely my responsibility, and I would appreciate it if they could be pointed out to me.

Lastly, we extend our heartfelt appreciation to the readers and scholars who will engage with this book. It is our hope that the insights within these pages will inspire meaningful dialogues and contribute to a deeper understanding of the complex challenges and opportunities at the intersection of international trade, economic crises and the Sustainable Development Goals.

With immense gratitude,

Tonmoy Chatterjee

Kolkata, India

September 2023