ECOFIN

A trade war spillover occurs when major economies participate in putting trade barriers like tariffs on each other's commodities. Such actions focus primarily on certain trading partners, but their effects often have a bigger impact on developing countries. These complications can cause factories to slow down, result in unemployment, and the economy as a whole could become less secure. 

The geopolitical impact of the World Bank and IMF in developing countries is extensively being investigated by ECOFIN. These global financial organizations help economies in need by providing forms of financial support. 

But it is often tied to certain policy constraints, which could include structural changes like budget restrictions, affecting current wars. For instance, in the Democratic Republic of Congo, the IMF’s structural adjustment programs weakened public services and increased inequality. Commercial banks also indirectly supported wars by financing the global arms industry.

The committee promotes fair trade policies and the development of multilateral trade institutions in an effort to create a more secure and fair global economic environment.