The Weekly Tradecast by UNCTAD

This episode of the Weekly Tradecast looks at a new report by the United Nations on trends in foreign direct investment (FDI) with Bruno Casella, a senior economist at UN Trade and Development. By tracking 20 years of FDI, the report says global flows are slowing down in the long term. Services are still growing quickly but manufacturing activity has suffered the most. The stagnation was already happening but the report says recent shocks – ranging from the pandemic to geopolitical tensions – have highlighted how the global economy is becoming more fractured. All of these factors, it says, will reshape investment decisions, international production and global value chains. Tune in to Bruno Casella, who led the new FDI report, to find out the implications for developing countries industrializing their economies.

This episode of the Weekly Tradecast looks at the rare metals and minerals used in mobile phones, laptops and electric car batteries with Clovis Freire, chief of the commodity research and analysis section at UN Trade and Development (UNCTAD). Electric vehicles are seen as clean because they don’t belch out exhaust fumes that fuel climate change. But some of the materials that go into them – especially the minerals and rare elements in their batteries – have large carbon footprints. The environmental impact of extracting materials like cobalt, copper, lithium and graphite is a major concern. In countries where much of the mining is done, there can be issues over human rights and the benefits to communities. With demand high and supplies limited, these materials also drive concerns about market domination by just a few producers. Tune in to UN Trade and Development’s Clovis Freire to find out more about these rare metals and minerals and how to make them greener.

This episode of the Weekly Tradecast looks at the update to the UN’s Trade and Development Report with UNCTAD director Richard Kozul-Wright. On the positive side – despite high inflation, high interest rates and gloomy forecasts – the global economy grew 2.7% last year. The bad news – the update says – is that the positive momentum is going to waste and that growth looks set to be slower this year at 2.6%. Tune in to UN Trade and Development’s Richard Kozul-Wright to find out how we address not only rising interest rates and inflation but also the urgent challenges of climate change, underinvestment and inequality before it’s too late.

This episode of the Weekly Tradecast looks at the connection between food, health and the UN’s Sustainable Development Goals with Bojan Nastav, a statistician with UN Trade and Development (UNCTAD). UN Trade and Development has teamed up with the World Health Organization to study the global trade of healthy and less healthy food. At least 10% of the world’s people live in hunger. At the same time, more than 40% of all adults are overweight. So, it’s not just a matter of quantity – or getting enough to eat. It’s also about quality by ensuring people have access to safe and nutritious food to help them stay healthy. Greater insights into the trade flows of food offer new ways for the WHO and others to analyse and address diseases that are linked to nutrition. Tune in to Bojan Nastav, one of the authors of the report, to find out how this research can help governments better understand food markets and develop nutrition-related trade policies.

This episode of the Weekly Tradecast looks at Bhutan, the Himalayan kingdom that measures its success in "Gross National Happiness" with UNCTAD director Paul Akiwumi. Bhutan and its 800,000 people now have an extra reason to be happy – after graduating from the UN list of Least Developed Countries (LDCs) into full developing country status. It's only the seventh nation in 50 years to make that jump. Bhutan was included in the first group of LDCs in 1971. Over the last few decades, it has made remarkable progress on various social and economic metrics, including big improvements in poverty levels, education and life expectancy. Tune in to UNCTAD’s Paul Akiwumi to find out how Bhutan achieved this feat and what the 45 countries still classified as LDCs can learn from its development path.

Just ahead of Zero Waste Day, this episode of The Weekly Tradecast talks trash with UNCTAD economist Henrique Silva Pacini Costa. From plastic packaging to fast fashion to car batteries, we have been creating mountains of waste for decades. It’s everywhere – in landfills, in the air, in plants and animals and in our oceans – and it can take decades or even centuries to degrade. We’ve recycled just nine percent of the plastic we started making 70 years ago, so that’s not going to solve the problem. Tune in to UNCTAD’s Henrique Silva Pacini Costa to find out what we must do to reduce our rubbish and why we must do it quickly.

This episode of The Weekly Tradecast looks at K-pop and other lessons for success from the creative economy of the Republic of Korea with UNCTAD economist Katalin Bokor. Whether we've danced Gagnam style, listened to the songs of BTS and Blackpink, played video games or watched Korean TV shows and movies, the country's cultural impact is hard to ignore. That catchy creativity is also paying big financial dividends. Around the world, the creative economy is one of the fastest-growing sectors and is already worth at least $1.5 trillion. Few places do it better than the Republic of Korea, more commonly known as South Korea. Tune in to UNCTAD’s Katalin Bokor to find out how other countries can emulate that success and build up their creative economies.

This episode of The Weekly Tradecast looks at how we can fight climate change by cutting the carbon emissions of our fisheries with David Vivas, an UNCTAD legal officer working on trade and environmental issues. The fishing industry is a vital source of food. And it provides work – directly or indirectly – for one in every 13 people on the planet. But there's a deep downside for the environment from the emissions spewed out by the sector's ships and processing plants. One recent study shows that bottom trawling – a common fishing practice – emits as much carbon dioxide every year as airplanes. How do we make fisheries greener while also keeping people in their jobs? Listen in to UNCTAD’s David Vivas to find out how we can stay in line with global climate goals and cut down the carbon emissions of our fisheries.

As we mark International Women's Day on 8 March, this episode of The Weekly Tradecast looks at the importance of investing in women with special guest Rebeca Grynspan, Secretary-General of UNCTAD, the UN’s trade and development body. Overall, the outlook for gender equality is not as bright as it should be. Women and girls make up nearly half of humanity but still lack equal opportunities in societies and economies. That means they often get less access to education and healthcare, are paid less than men and are more likely to leave work to care for families. Projections now show that closing the global gender gap will take almost 132 years – about 30 years more than estimated in 2019, before the COVID-19 pandemic. Tune in to UNCTAD Secretary-General Rebeca Grynspan to find out how inclusion, investment and opportunities for women support sustainable development, build economies and strengthen societies.

This episode of the Weekly Tradecast looks at the importance of remittances with UNCTAD economist Bruno Antunes. Around the world, migrants send home more than $830 billion in remittances, of which about $650 billion go to developing countries, according to estimates from the World Bank. That money helps to reduce poverty, improve nutrition and broaden access to education. Listen in to Bruno Antunes to find out how policies and reforms can help us better use remittances and the opportunities they offer.

This episode of The Weekly Tradecast looks at the impact on shipping, supply chains and trade from insecurity in the Red Sea with Jan Hoffman, head of UNCTAD's trade logistics branch. About 80% of the world’s goods move by sea. But escalating attacks by Houthi rebels on ships passing through the narrow waters towards the Suez Canal have disrupted shipping routes and raised geopolitical tensions. Red Sea shipping lanes carry around 15% of global trade but many ships have been diverted. UNCTAD estimates the trade volume going through the Suez Canal fell 42% over the last two months. Without the Red Sea shortcut, longer routes between Asia and Europe add significant time and cost to shipments. That's fuelling fears of more shocks to the economy – with inflation still high and supply chains still shaky after disruptions during the pandemic. Tune in to UNCTAD's Jan Hoffmann to find out more about the Red Sea disruptions and other threats to maritime trade from clogged shipping lanes and climate change.

This episode of The Weekly Tradecast looks at UNCTAD’s tool to measure sustainable growth and some of the signs of progress with Anu Peltola, who is in charge of the organization’s statistics unit. For nearly 80 years, gross domestic product (GDP) has been the headline number to measure a country’s prosperity. To get a more detailed picture, UNCTAD's Inclusive Growth Index goes further by combining GDP with other data on living conditions, equality and environmental sustainability. Launched in 2022 and expanded last year, the index now covers 93% of the world’s people and 96% of the global economy. On average, developed countries score nearly twice as high as developing countries for inclusive growth. But some gaps are getting smaller. Tune in to UNCTAD’s Anu Peltola to find out where and why.

This episode of The Weekly Tradecast looks at the impact of the Israel-Gaza crisis on the Palestinian economy with UNCTAD economist Rami Alazzeh. Since the deadly assault by Hamas militants on October 7, Israel's military response has destroyed more than 37,000 buildings – about 18% of the Gaza Strip’s total structures – and displaced most of the 2.3 million people in the tiny enclave. With so much damaged or destroyed, UNCTAD says in a new report that rebuilding Gaza will take decades, a concerted international effort and many billions of dollars. That rebuilding will be all the more difficult given the already dire state of the economy from Israel’s decades-long blockade. When the war ends and investment is needed, recovery priorities for Gaza’s economy include supporting the workforce, restoring the airport, building a seaport and developing natural gas fields. Tune in to UNCTAD's Rami Alazzeh to learn more about Gaza's path to recovery and longer-term development.

This episode of The Weekly Tradecast looks at the global financial architecture with UNCTAD senior economist Penelope Hawkins. The war in Ukraine, a global cost of living crisis and the lingering pandemic have disrupted economies and piled on debt pressure with higher interest rates. For many countries, the debt distress presents stark choices between repaying loans, investing in development and coping with climate change. So how can vulnerable countries manage their debt burdens and free up financing for a high-value and low-carbon future? Listen in to UNCTAD’s Penelope Hawkins to find out why financial systems and rules need to evolve to help investment and trade flow smoothly and more sustainably.

This episode of The Weekly Tradecast looks at the importance of the Sustainable Development Goals (SDGs) and how much it will cost to achieve them with Nour Barnat, chief of methodology at UNCTAD Statistics. In 2015, UN members signed up to 17 SDGs that range from ending extreme poverty to tackling the climate crisis. The goals are supposed to be met by 2030 but most are off track because of the pandemic, economic turmoil and geopolitical tensions. It's estimated that the investment needed to hit the targets is around $6 trillion every year for the next seven years. That's equal to at least $750 per year for each person on the planet. Can we salvage the Sustainable Development Goals and where will the money come from? Tune in to UNCTAD's Nour Barnat to find out how we can meet the targets and fulfil the promise of a better future for people and the planet.

This episode of the Weekly Tradecast talks about fertilizer and how harvests could wilt without more supply at cheaper prices with UNCTAD’s Sangram Rane, who is part of the UN task team focused on tackling global food insecurity. Before the war, The Russian Federation and Ukraine together accounted for almost a third of global wheat exports. Russia is also a major exporter of fertilizers and of key ingredients – such as ammonia – that are used to make them. Earlier UN-led deals with Ukraine and Russia on grain and fertilizer exports helped to reduce food prices and lessen the impact of the global cost-of-living crisis. But fertilizer remains expensive and in short supply as high energy prices raise production costs. Without enough fertilizer this year, the UN is warning there may not be enough food. Tune in to UNCTAD’s Sangram Rane to find out why.

In this special episode of the Weekly Tradecast, we’re looking back at some of our most popular podcasts over 2023 and the many challenges they address. And what a year it’s been. Economic recovery is shaky as conflicts in Ukraine, the Middle East and elsewhere fuel tensions and uncertainty. A cost-of-living crisis persisted throughout the year, with developing countries in particular feeling the pain of a sharp rise in interest rates. Another big issue of 2023 was extreme weather and the impact of global warming. We looked at investing in the green transition and how trade can make a big difference in protecting the planet. As technology transforms every aspect of our lives, we explored the risks and opportunities of e-commerce and the digital economy. With UNCTAD celebrating its 60th birthday in 2024, we also took a tour of the archives and some of the more unusual aspects of our history. The Weekly Tradecast returns in early January with new episodes and more insights on the world of trade and development. Happy holidays!

This episode of The Weekly Tradecast talks about the importance of the right kind of investment in tourism with UNCTAD’s Christiane Stepanek-Allen, chief of UNCTAD's investment partnership section. Before the Covid pandemic, the tourism industry accounted for about 4% of the global economy. Tourism is bouncing back – helped by a busy summer – but it's having to make up for massive losses during the pandemic and still faces challenges. Awareness is also growing that travel can have huge costs for the environment. As extreme heat and wildfires in many places showed this summer, the sector is also vulnerable to climate change. Listen in to UNCTAD legal expert Christiane Stepanek-Allen to find out why investment is key to a greener kind of tourism that helps the industry and also the planet.

This episode of the Weekly Tradecast looks at investing in sustainable development to help save our planet with UNCTAD economists Joseph Clements and Anthony Miller. Calls are growing more urgent for more spending on a clean-energy future and more support for developing countries bearing the brunt of climate change. The energy crisis is raising fears that many countries will postpone plans to shift from fossil fuels into cleaner renewable energy. The link between investment, development and the environment is now a driving theme – not least at the ongoing COP28 global climate conference. But trillions of dollars are needed to meet climate and development goals and just a small part of that money is now flowing. So how can we step up the investment we need for a sustainable future? Listen in to UNCTAD’s Anthony Miller and Joseph Clements to find out.

This episode of The Weekly Tradecast looks at the role that trade has to play in the clean energy transition with senior UNCTAD economist Chantal Line Carpentier. Next week, the UN climate summit – COP28 – is dedicating a day to trade and how it can help fight climate change. The global production and distribution of goods and services accounts for around a quarter of all emissions. But to limit global warming to 1.5 degrees Celsius, scientists say we must reach net zero for greenhouse gases by 2050. That means cutting those emissions to as close to zero as possible – with any remaining ones absorbed from the atmosphere by oceans and forests. Listen in to UNCTAD’s Chantal Line Carpentier to find out why trade is vital to achieving the climate targets and how it can help cut global emissions.