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.
A glimpse of the muted Economic Winter Season ahead
Despite having a strong global economic stimulus, the country's economic recovery has been at its weakest.
What happens when your aircraft is grounded?
For some travelers, the Federal Aviation Administration’s decision to ground the Boeing 737 Max 8 last week caused a minimum...
The evidence is in: More gender balance means more money
It’s no secret businesses with more gender diversity and gender balance do better.
Addressing critical needs at lower levels of government to result in collaboration initiatives
Local governments are in need of critical funding to protect their citizens and preserve public infrastructure, which will open opportunities...
An in-depth examination of the Dow Jones bear’s eye view from 1885 to 2019
The Dow Jones saw some selling pressure this week, closing down 4.94 percent from its last all-time high of October...
- Featured5 days ago
Spring clean your finances with these 3 tips
- Economy5 days ago
Alternative funding sources of all types readily available for capital projects
- Featured2 days ago
Which cannabis stock is a better buy: Aphria (NYSE: APHA), Canopy Growth (NYSE: CGC) or Aurora Cannabis (NYSE: ACB)?
- Economy1 day ago
High incomes, safety levels main drivers in the economics of happiness