135. Antibiotic shortages: A looming health crisis

Antibiotics save lives. But when the supplies run low or bacteria become resistant, the risks grow — especially in developing countries. On this episode of The Weekly Tradecast, UN Trade and Development (UNCTAD) economist Bruno Casella explores the challenges of securing essential antibiotics, the impact of limited local production, and how better investment and coordination can strengthen supply chains. Join us to discuss UNCTAD’s findings on antibiotic shortages in East Africa and the urgent need for action.

In this episode of The Weekly Tradecast, Luz María de la Mora, Director of UNCTAD’s Trade Division, looks into the complex realities behind today’s trade debates. In a world shaped by disruption – from climate change and geopolitical tensions to digital transformations – the global trading system is at a crossroads. Free trade, once seen as a force for prosperity and integration, is now under scrutiny. But is trade the culprit or a catalyst for solutions? Drawing from decades of experience in international negotiations, she explores how trade can remain a force for good – one that fuels inclusive growth, empowers small businesses, supports the green and digital transitions, and offers hope to communities worldwide. Listen now to discover why, even in turbulent times, trade still holds the potential to drive sustainable development – if we get it right.

The Weekly Tradecast looks at tariffs with Emily Blanchard, a former Chief Economist at the U.S. State Department. Not long ago, we were deep in a cost-of-living crisis. Inflation has now eased a bit but geopolitics remain tense and the global economy is still struggling to recover. But rather than moving towards more open trade, many countries are becoming more protectionist. Adding to the unease, countries are threatening to slap huge tariffs on major trading partners. In the current climate, there are fears that escalating tariffs could lead to trade wars - a scenario with grim prospects for many developing countries. For more on the ins and outs of tariffs, tune in to Emily Blanchard from the Tuck School of Business at Dartmouth College.

The Weekly Tradecast looks at the global trade in food and why developing countries must move up the value chain to help drive the sustainability of what we eat with Jennifer Clapp, Canada Research Chair in Global Food Security and Sustainability. Crises, conflicts and climate change are all affecting how and where our food is grown, processed and shipped. At the same time, the global food system is dominated by a few huge companies that shape policies, trade and development. Listen in to Jennifer Clapp, Professor at the University of Waterloo, to see how the Global South can play a bigger role in supply chains and a sustainable food future.

The Weekly Tradecast looks at Africa’s economies and ways to boost trade, reduce risk and unlock the continent’s potential with Mona Farid Mohmed Badran from Cairo University and also UN Trade and Development’s (UNCTAD) chief of the Africa section, Habiba Barka. From economic turbulence to the impact of climate change, UN Trade and Development’s latest report on Africa says much of the continent struggles to get ahead due to repeated exposure to external shocks. Its economies are particularly vulnerable because they rely heavily on commodity exports, carry high levels of debt and have limited technology infrastructure. According to the new Economic Development in Africa report, key steps forward include wider diversification of economies, greater regional trade and more robust rules across the continent of 1.4 billion people. For more on the report and its recommendations, tune in to Mona Farid Mohmed Badran and Habiba Barka.

The Weekly Tradecast looks at the trends in South-South trade – along with some challenges on the horizon – with Giselle Datz, an expert in the global political economy at Virginia Tech. Throughout modern history, wealthy nations in the north have been consuming food, minerals and other goods from developing countries most often found in what’s called the Global South. But in recent years, the patterns of market power have been shifting within Asia, Latin America and Africa – with profound implications for the global economy and development. The latest UN Trade and Development report says that South-South trade has more than doubled since 2007. In 2023, that trade within the Global South was worth $5.6 trillion. But against this backdrop Donald Trump, the new US president, takes office with talk of tariffs and protectionism. For more on what lies ahead for the Global South and where the risks are, tune in to Giselle Datz, Associate Professor in the Government and International Affairs Program at Virginia Tech.

The Weekly Tradecast looks at how we can bridge inequality in the global economy and create a fairer system with economist, academic and author James Galbraith. In recent decades, the economic centre of gravity has been shifting with the growing presence of big developing countries on the world stage. But many gaps and inequalities persist – just as climate change, rapid changes in technology and major shifts in geopolitics are transforming the way we live and reshaping the future of the planet. With so much to deal with, what are the priorities so that developing countries can be resilient and prosperous? Tune in to James Galbraith from the University of Texas at Austin to find out how we can get on the right track to a more sustainable and inclusive future.

The Weekly Tradecast looks at tax with Lorraine Eden, professor emerita of management at the Mays Business School at Texas A&M University. Nobody likes to pay tax, but collecting more of it is one way that countries can bring in billions of extra dollars each year to support economic and social development. One big challenge is the way that giant corporations are able to move profits around the world to places where they pay the lowest taxes. To ensure that multinationals pay their fair share, around 140 countries are working on global reforms to the tax architecture – including an agreed minimum rate of tax on big companies. For a deeper look at these reforms and how they could help developing countries, tune in to professor and prolific author Lorraine Eden.

The Weekly Tradecast looks at how the green transition is transforming the global economy, national policies and almost every aspect of our lives with the International Trade Centre’s Vanessa Erogbogbo. As the impact of climate change gets worse, the focus is on finding solutions that make a difference. Much more needs to be done but steps to cut emissions and use more renewable energy are already opening new frontiers for technology, creating new opportunities for business and redrawing the map for the resources we use and the products we make. So how does that big picture connect and affect daily life in our work and in our communities? For more on the macro to micro aspects of the green transition, listen in to Vanessa Erogbogbo, chief of the ITC’s green and inclusive value chains section.

The Weekly Tradecast closes the year with a special episode highlighting key moments and voices in global development in 2024 and the paths we’re forging for a more inclusive and resilient future. It’s been a transformative year, marked by extraordinary challenges and opportunities. From rising economic uncertainties and shifting trade landscapes to the collaborative spirit of the Global Leaders Forum and the UN Summit of the Future, the need for innovative solutions has never been greater. Tune in to see how trade can drive sustainable development, transforming the world’s challenges into opportunities and shaping a better future for everyone. The Weekly Tradecast returns in early January with more insights on the world of trade and development. We wish you happy holidays and a new year filled with possibilities.