IMF’s David Lipton emphasized the importance of interconnectedness and urged those who ask for it to be open to addressing the legitimate concerns of people who are feeling displaced.
Lipton also added that the members were more optimistic because growth has been recovering and the momentum of the global economy has been improving. He also explained that the membership was a little concerned whether the economic risks, the political and geopolitical risks might undermine, or even derail the recovery.
David emphasized that the Fund’s message on growth is a two-part message: Steps need to be taken that will strengthen and protect the growth momentum, and it should not be assumed that this growth will continue if the discontent around interconnectedness is intensified. Therefore, the IMF has been focusing on subjects like gender and other forms of inclusion, dealing with inequality, and many other subjects needed to address the negative side-effects of interconnectedness for retaining the social and political consensus.
Regarding anti-globalization, Lipton said that it is clear that advanced economies are experiencing the discontent more than emerging economies because in those countries there have been winners and losers.
The ultimate message of the Fund is that we do need to preserve interconnectedness, but those who ask for it, have to be open to addressing the legitimate concerns of people who are feeling displaced and threatened by the change in their countries and markets. At the same time, the advanced economy countries have to recognize how important continued interconnectedness is to the rest of the world.
Surveys Show People Invest in Crypto Mostly Due to Its Ease of Trading, but What Other Reasons Are There?
In what feels like the blink of an eye, crypto has become a major buzzword of our era. But what's...
Are We on the Verge of a Roaring Stock Market Rebound?
Is a stock market recovery on the cards any time soon? Surely not, right? After all, we're living in an...
Novavax, Moderna, and BioNTech Vaccine Sales: Where Are They Now?
As vaccine sales for Novavax, Moderna, and BioNTech shift in line with a changing Covid-19 situation, the results are being...
Depression, or No Depression; That Is the Question
So are we in a depression or not? While you certainly won't hear anyone official saying so any time soon...
Foreign US Treasury Bond Holdings
There are plenty of countries out there with significant US Treasury Bond holdings, and China's right up there with the...
Business2 weeks ago
Best Small Business Web Hosting — The Only Guide You Need
Featured2 weeks ago
Indra Gains Traction as an ESG Asset Despite Last Month’s Controversial Board Meeting
Cannabis4 days ago
Why Tilray Shares Rose This Friday Morning
Crowdfunding2 weeks ago
Xolid Closes €5 Million Round on Equity Crowdfunding Platform CrowdFundMe