You are here
Prospects for the Global Economy
Prospects for the Global Economy
Thursday, 28 April 2011
Jacob A. Frenkel, Chairman of JPMorgan Chase International, Member of the Executive Committee at JPMorgan Chase & Co. and the JPMorgan International Council; Joseph E. Stiglitz, Professor at Columbia University and President of the Initiative for Policy Dialogue (IPD); and Min Zhu, Special Advisor to the Managing Director of the International Monetary Fund, presented their views on the challenges and prospects of today’s global economy as part of Columbia University’s School of International and Public Affairs’ 2011 Distinguished Speakers in International Finance and Economic Policy series.
Frenkel noted the growing importance of emerging markets. Not only are equity flows moving to emerging markets, but their gross domestic product (GDP) rates significantly surpass those of advanced economies. Stiglitz discussed the growth of emerging markets as well as the failure of monetary and fiscal policies in the United States. He believes that the United States’s prospects for a rapid recovery remain bleak. Lastly, Zhu remarked on the changes occurring in commodity and energy demand, the global trade pattern, and the world financial map—with everything moving in the direction of emerging markets. Despite this growth, these economies will face daunting challenges in maintaining sustainable growth.
Merit E. Janow, Professor of International Economic Law and International Affairs and Director of the Program in International Finance and Economic Policy at Columbia’s School of International and Public Affairs (SIPA), moderated this event.
This event was co-sponsored with SIPA’s International Finance and Economic Policy (IFEP) Concentration and the APEC Study Center. Watch video.
APEC Study Center at Columbia University
Columbia University, 3022 Broadway
2M-9 Uris Hall
New York, NY 10027-7004
The Curl Ideas to wrap your mind around
10 Ways to Create a Culture of Open Communication
Creating a culture of open communication can be one of the best ways to inspire excellent performance, improve employee morale, and foster a warmer corporate culture, says Alexander Tuff ’03.Read More
Columbia Business School Welcomes Six New Board Members
In May, Columbia Business School welcomed six new members to its esteemed Board of Overseers.Read More
Columbia Startup Lab Revs Its Engines for Year Two
It’s been exactly one year since the Columbia Startup Lab opened its doors at 175 Varick Street as a shared workspace for budding Columbia entrepreneurs. With a proven track record and a full roster for the coming year, you might say the lab is a startup success story itself.Read More
AMERICAN TORTURE SUPPORTERS ARE OFTEN BIASED
New research from Columbia Business School reveals the selective beliefs behind torture supportRead More
Europe’s Last Act?
The euro was supposed to strengthen Europe. But it has had the opposite effect.Read More
Greece, Argentina, and the Middle-Income Trap
Aside from an established tradition of bad macroeconomics, what do Greece and Argentina have in common? They are the world’s longest-held captives of the middle-income trap.Read More
How Learning Creates Growth
Joseph E. Stiglitz and Bruce C. Greenwald explain how the key to economic innovation and prosperity lies within each of us — and within entire societies. The two were awarded the Eccles Prize for Excellence in Economic WritingRead More
The Flaws in the Trans-Pacific Partnership
It's not a partnership of equals, and it's not a free-trade agreement.Read More
The United States and China: An Unsustainable Codependency
A preeminent economist says both of the world's largest economies need to rebalance. Or else...Read More