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China’s role as “anchor of stability” for the multilateral trading system

2025-04-22

The sweeping tariffs imposed by U.S. President Donald Trump could hit Global South countries hard, experts have warned.

Jayati Ghosh, economics professor at the University of Massachusetts Amherst, expressed concerns that the cancellation of export orders could weaken supply chains.

“As with previous self-inflicted economic crises, the U.S. economy will undoubtedly suffer, but the heaviest burden will fall on the developing world. Cancelled or delayed export orders are already undermining production and fueling unemployment,” wrote Professor Ghosh in an op-ed titled “The Global South will pay for Trump’s trade war.”

“The result could be an entirely manufactured global recession, with the developing world bearing the brunt,” Ghosh wrote.

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