Today in Global Small Business: The Global Women Presidents Organization

©2026 Laurel J. Delaney.  All rights reserved.

What's affecting me, my clients, my colleagues and other global small business owners:

• Making sure the world knows about the global peer advisory group the Women Presidents Organization for women business owners generating $2 million (USD) in gross annual sales for a product-based business or $1 million for a service-based business.  If that is you, discover what a WPO membership could mean for your business.  Note: I ([Laurel Delaney] have been a WPO Chicago Chapter Chair since 2003 so I know first hand how exceptional the organization is.
• IMF Chief:  We can't repeat the mistakes of globalization with AI.
• Alternatives to the major powers must play a larger role, no matter if the aim is preservation of the existing global order, reform of its institutions, or transformation into a new model of governance.
• Quote of the week:  “These incredible women [business owners] have inspired me every single day. Their drive, resilience, and impact have shaped not only the economy but also communities and generations to come. It has been the honor of my life to help support this global movement for women’s economic development and leadership." – Camille Burns (second from left in photo), CEO, at the Women Presidents Organization
• The Qatar lesson:  In the age of globalization, new tools of influence have entered the arena. In the past, a country’s power was measured by the number of tanks, aircraft, and soldiers at its disposal.
• According to the World Economic Forum, globalization isn’t over. It’s being rebuilt around resilience, regions and intelligence.

Note:  The Global Small Business Blog has been in operation since 2004 and is ranked number one in the world for entrepreneurs and small businesses interested in going global.  As of May, 2026, we average between 700,000-900,000 readers a month.  Thank you for your engagement! 

Is Free Trade Under Attack?

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One of the defining transformations of the 20th century was globalization. Since the end of World War II, countries and cultures have become more interconnected than ever before, through free trade agreements, technology, multi-national corporations, and the creation of structures such as the IMF and the World Trade Organization.

Trade economists liked to think that the benefits of globalization—economic growth, more consumer choice, lower prices—had made it unassailable. But cracks in the international order have started to appear. 

IMF Chief Urges U.S. Policymakers to Pay Off the Deficit

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International Monetary Fund (IMF) chief Kristalina Georgieva recently urged U.S. policymakers to take advantage of the U.S. recovery from the pandemic and pay off the deficit.

Georgieva said policymakers should put the U.S. national deficit on a “decisive downward path,” in part to ensure investors do not start losing interest in U.S. treasuries. 

The IMF has a more positive outlook for U.S. inflation than the Fed does, expecting it to renormalize to 2 percent by the middle of next year. The Fed does not expect inflation to normalize to 2 percent until 2026

Global Growth Stronger Than Expected in 2024

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According to the International Monetary Fund (IMF), global growth is stronger than expected and will be 3.1% in 2024, the same as in 2023, as the US and emerging economies have shown resilience to previous crises, with strong consumption driving the growth.

The IMF has increased its previous forecast by 0.2%, in its latest World Economic Outlook report, factoring in upgrades for China, the United States, and large developing economies.  Global GDP is expected to accelerate slightly in 2025, by 3.2%.

Read the entire piece, including a mention about shaky growth in Europe.

Restoring Global Growth Will Be Challenging

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The coming downturn is not inevitable, but restoring global growth will be extremely challenging.

The IMF’s World Economic Outlook and Global Financial Stability Report suggest a difficult road ahead, warning that “the fog around the world economic outlook has thickened.” The rapid succession of large interest-rate hikes by the U.S. Federal Reserve and other major central banks has caused public and private sector debts to increase to their highest levels in decades, enhancing the risk of financial instability. 

Can the current global economy avoid a lost decade?

Could Protectionism Make the World Less Resilient, More Unequal, and More Conflict-Prone?

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There is no strong evidence of a retreat from globalization, but international trade and the multilateral system that underpinned it are under attack, and their future depends on policy choices.

Today, there is still no conclusive evidence that international trade is deglobalizing. When measured in US dollars, global trade growth slowed after the global financial crisis in 2008–09 and declined sharply at the onset of the pandemic in 2020. But since then trade has rebounded to the highest value ever.

Read on to see how there are some growing threats to global trade.

Slowbalization After Global Financial Crisis

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Globalization has seen ebbs and flows over the decades. According to the International Monetary Fund (IMF), the “Slowbalization” that followed the global financial crisis has been characterized by a prolonged slowdown in the pace of trade reform, and weakening political support for open trade amid rising geopolitical tensions.

As the Chart of the Week shows in this link, globalization plateaued in the decade and a half since the global financial crisis. This latest era is often referred to as “slowbalization.”

Do the Benefits of Globalization Outweigh the Geopolitical Problems It Has Helped Create?

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Economic Counselor and the Director of Research of the IMF Pierre Olivier Gourinchas’ warning from the IMF’s World Economic Outlook in October 2022 underlined the significant slowdown in the global economy – and the reliance on global trade to function.

It raised questions about whether the many benefits of globalization outweigh the geopolitical problems it has helped create.

Read on to learn more.

Where Forecasts Went Wrong On Trade Globalization

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According to the International Monetary Fund, the prediction that expanding production networks and trade globalization would make the world economy less resilient turned out to be wrong. Why?

The question has two components: (1) Why did demand for traded goods boom? (2) How could supply increase to satisfy this unprecedented expansion of demand?

Read on about globalization and resilience.

Empowering Women Lifts the World

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International Monetary Fund (IMF) research has consistently underscored the benefits of equality, including greater productivity and financial stability. To mark International Women’s Day – celebrating the entire month – IMF presents a roundup of their most recent blogs, podcasts, and research on gender.

Check out how empowering women supports economic growth.

Today in Global Small Business: Global Recovery Will Be Divergent

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What's affecting me, my clients, my colleagues and other global small business owners:

• The International Monetary Fund (IMF) revised this year’s growth forecast upward for the Middle East and North Africa region and says recovery will be 'divergent.'
• Speaking of the latest developments in the global economy, the IMF has upgraded the world growth forecast!
• Millions of small shops in India have now become the next big target of tech firms to integrate technology into local shopping experiences.
• Global and local technology and financial services giants have embarked on a range of projects aimed at enhancing skills and diversity among small businesses in South Africa.
• Quote of the week:  “The world will not be destroyed by those who do evil, but by those who watch them without doing anything.” – Albert Einstein
• Managing divergent economies (by the IMF).  We are on firmer ground but there is a high degree of uncertainty.

The Great Lockdown According to Gita Gopinath, IMF

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As a result of COVID-19, the global economy is projected to contract sharply by –3 percent in 2020, much worse than during the 2008–09 financial crisis.

Gita Gopinath, Economic Counsellor at the International Monetary Fund says:

This crisis is like no other. First, the shock is large.  The output loss associated with this health emergency and related containment measures likely dwarfs the losses that triggered the global financial crisis. Second, like in a war or a political crisis, there is continued severe uncertainty about the duration and intensity of the shock. Third, under current circumstances there is a very different role for economic policy.

Read more from the International Monetary Fund on the nature of the pandemic shock:

• Foreword by Gita Gopinath
• Executive Summary
• Blog post
• Chapters (for example, Chapter 1:  Global Prospects and Policies)
• Statistical Appendixes
• Growth Projections Table

Which can all be found here.

Gita Gopinath is the Economic Counsellor and Director of the Research Department at the International Monetary Fund (IMF). She is on leave of public service from Harvard University’s Economics department where she is the John Zwaanstra Professor of International Studies and of Economics.

With the Coronavirus, Mask Options Just Aren't Available If You Are Sub-Scale

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In China, large corporations such as Apple Inc. supplier Foxconn Technology Co. have started their own mask assembly lines just to meet its workers’ needs. That option simply isn’t available if you are sub-scale.

And while bigger companies in China are largely back in operation, two-thirds of smaller ones still couldn’t get their employees to work as of last week, according to Beijing’s own government briefing.

Some say the situation could be even more dire in the U.S.  For example:

In its latest global financial-stability assessment, the International Monetary Fund found that while Chinese SMEs remain highly profitable — and large, state-owned enterprises are economic drags — the situation is just the opposite in the U.S. American SMEs are in the worst financial shape among countries in the survey, which looked at more than 1.3 million companies across major global economies. Over 60% of SME corporate debt is issued by borrowers that don’t make enough profit to cover their annual interest payments. In times of distress, it’s unclear that banks and the private-loan market will allow smaller businesses to refinance.

Read more about the state of China and determine for yourself whether they have a handle on things.

Are You Ready to Cope with a Fresh Economic Downturn?

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Bulgaria’s Kristalina Georgieva has said the global economy needs to be ready to cope with a fresh economic downturn after being chosen to head the International Monetary Fund (IMF) for a five-year term.

Georgieva said: “The IMF is a unique institution with a great history and a world-class staff. I come as a firm believer in its mandate to help ensure the stability of the global economic and financial system through international cooperation. Indeed, in my view, the Fund’s role has never been more important.”

Read more about heading off the threat of a global recession.

Risks to Global Growth Are Rising

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While the IMF has maintained its global growth forecast of 3.9% for this year and next, it has cut the outlook for the UK and the eurozone among others.

The outlook for the global economy has darkened as trade tensions rise and growth becomes uneven, according to the International Monetary Fund (IMF).

Read more on how Trump's tariffs will hurt global growth, the International Monetary Fund warns.

The Gilded Age Reboot Has Gone Global

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As Quartz says, "Big business just keeps getting bigger. And the US government’s de facto green-lighting of AT&T’s purchase of Time Warner last week is a sign of more corporate engorgement to come."

The gilded age reboot has gone global.

According to new research by the International Monetary Fund, it has among rich countries.

Read more here.

Global Superstar Firms

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The rise of the global superstar firm.  That is a warning buried at the end of the International Monetary Fund's (IMF's) report on the American economy.

The question becomes:  Are some businesses just too dominant, too big, for the overall good of the economy?

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The IMF - a membership organization of 189 nations - is careful not to name names.

And firms which some might think the target - such as Apple, Facebook or Google - point out that their success comes from providing products and services that consumers want.

"Markets reward success," as the article The rise of the global mega-firms -- why the IMF is worried, states.

Today in Global Small Business: The IMF Reels in Bitcoin

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What's affecting me, my clients, my colleagues and other global small business owners:

• In today's globalized world, becoming part of an international supply chain is key to the prospering of small businesses and their ability to create jobs.
• How do you acquire nearly a million (1 million) followers on Twitter or more than six-five thousand (65,000) on Instagram?  It takes perseverance.  Presenter CamMI Pham will educate us on how to be bold in 2018 and get the world to notice you in the next WEGGinar™ held on Wednesday, February 7 at 11:00 a.m. Central time. The WEGGinar™ is no charge but you must sign up to attend: https://register.gotowebinar.com/register/2297562974983287811.
• Small business owners need to think about stretching their territory beyond traditional borders and bringing the entire world into play as their customer base.
• President and CEO of eBay Devin Wenig, says "One of the most meaningful ways technology companies can make an equitable impact is by bringing back to life the real engine of the U.S. economy — [global] small businesses."
• The tech industry has sparked rapid growth, provided access to global markets and created entirely new, massive industries — generating an estimated $1.3 trillion and accounting for about 8% of U.S. GDP.  Small businesses can continue to drive the growth.
• The IMF calls for global coordination on potential Bitcoin regulation.

Today in Global Small Business: WTO Proposes Agreement to Support E-Commerce for SMEs

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What's affecting me, my clients, my colleagues and other global small business owners:

• How technology can help small businesses save time with automation and have a global reach.
• Why The International Monetary Fund has urged governments to take action to tackle a record $152tn mountain of debt mountain.
• Register for the 2nd Annual Global Small Business Forum held in Chicago Friday, October 21st.
• World Trade Organization proposes a new global agreement to support e-commerce for SMEs.
• Why Walmart is doubling down on e-commerce investments and what we can learn by it.
• Should Alibaba be put back on the list of sellers of fakes?

Are We In a New Mediocre or Just a New Norm?

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Digital transformation is here to stay so it really is a case of navigating a path forward with our global small businesses.

According to the World Bank, global economic growth slowed to 2.4% in 2015 and in 2016, has so far shown volatility in global stock markets, a decline in oil prices and growth in emerging economies plateauing amid troubling economic data from China.

At this year’s World Economic Forum in Davos many reported the mood being subdued in the face of stubborn macroeconomic headwinds. The head of the IMF, Christine Lagarde, called the global economic prospects we now face the “new mediocre”. But is this the new norm?  If so, how will countries be able to spur growth in the future?

Read more:  Digital transformation is here to stay, so how do we navigate a path forward