The OMFIF Podcast

2021 global markets outlook: View from BNY Mellon

Daniel Tenengauzer, managing director and head of markets strategy at BNY Mellon, joins Mark Sobel, US chairman at OMFIF, to discuss the hurdles to opening economies after Covid-19, the evolution of inflation and its impact on the global bond market, and a view on emerging market foreign currencies, among others.

Charter cities and prospects for growth

Charter cities can bring long-term economic growth through business and innovation enabled by well-functioning institutions. Mark Lutter, founder of the Charter Cities Institute, talks to OMFIF’s Kat Usita about the benefits that charter cities bring and successful examples. 

Euro area stability: view from the IMF

The euro area economy has not been spared from the damaging effects of the Covid-19 pandemic. After the first wave, it recovered well, but a second wave and new lockdowns have hampered growth. Philip Gerson, deputy director of the International Monetary Fund’s European department, discusses the effects of the pandemic on the euro area economy. Setting out key findings from the IMF’s December report ‘2020 consultation on common euro area policies’.

To listen to the Q&A, please visit: https://www.omfif.org/videos/euro-area-stability-view-from-the-imf/

Read the report here: https://www.imf.org/en/Publications/CR/Issues/2020/12/21/2020-Consultation-on-Common-Euro-Area-Policies-Press-Release-Staff-Report-and-Statement-by-49979

 

Part 2: Fintech, payments, and CBDC in China

Bhavin Patel, head of fintech at OMFIF, speaks with Douglas Arner, Kerry Holdings Professor in Law and director of the Asian Institute of International Law at the University of Hong Kong, and Charles Chang, deputy dean of academics, professor of finance and director of the fintech research centre at Fanhai International School of Finance, Fudan University.

In this two-part series they discuss the Chinese fintech space, focussing on payments, regulations and the Chinese central bank digital currency project. In the second part of their discussions, they discuss China’s digital currency/electronic payment. They look at how effective it may be, how it will integrate with a market dominated by the private sector, its possible disintermediation impact on incumbents, as well as how it can become a cross-border central bank digital currency.

Is the world facing a new burst of inflation?

Charles Goodhart, emeritus professor of banking and finance at the London School of Economics and Political Science, and Manoj Pradhan, founder of Talking Heads Macro, a research firm, discuss their book The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival.

The discussion, led by David Marsh, OMFIF chairman, centres on the effects of demography on price levels as relatively wealthy retirees stoke up global demand for goods produced by a shrinking labour force, leading to product scarcity and bottlenecks. Goodhart’s and Pradhan’s thesis, which they maintain could lead to sharp falls in bond prices from 2022 onwards as portfolios adjust to higher inflation prospects, has become a major talking point among international policy-makers.

Part 1: Fintech, payments, and CBDC in China

Bhavin Patel, head of fintech at OMFIF, speaks with Douglas Arner, Kerry Holdings Professor in Law and director of the Asian Institute of International Law at the University of Hong Kong, and Charles Chang, deputy dean of academics, professor of finance and director of the fintech research centre at Fanhai International School of Finance, Fudan University.

In this two-part series they discuss the Chinese fintech space, focussing on payments, regulations and the Chinese central bank digital currency project. In this first part they discuss China’s fintech growth, how it became a global leader, the country’s approach to fintech regulation and newer entrants, and the likely effectiveness of the DC/EP in a private sector dominated market.

Remote working and Covid-19: impact on businesses, people and governments

Susan Lund, partner at McKinsey & Company and leader of the McKinsey Global Institute, and Carl Benedikt Frey, Oxford Martin Citi fellow at the University of Oxford, and author of The Technology Trap, join Ellie Groves, deputy head of programming and Europe manager at OMFIF, to discuss the impact of Covid-19 in accelerating the shift to remote working, the barriers encountered by governments and businesses, as well as potential solutions for an easier transition.

Boston Fed’s CBDC project

In August 2020, the Federal Reserve Bank of Boston, in collaboration with the Massachusetts Institute of Technology, announced that it would research and test leading technologies to determine design requirements for a US-based central bank digital currency. Jim Cunha, senior vice-president, secure payments and fintech, at the Federal Reserve Bank of Boston, discusses this initiative as well as the wider impact of distributed ledger technology on the financial system. The meeting also covers national efforts to increase security and reduce payment fraud in the US.

Financial stability in Europe 2021

Dimitri Demekas, visiting senior fellow at the Institute of Global Affairs at the London School of Economics and special adviser to the Bank of England, and Ludger Schuknecht, former chief economist of the German ministry of finance and deputy secretary-general at the Organisation of Economic Co-operation and Development, join Danae Kyriakopoulou, chief economist and director of research at OMFIF, to discuss European financial stability. They explore the need for high public spending because of Covid-19 and what comes next, the intricate relationship between the real economy and financial markets, the risks faced by central banks in the current crisis and more. Ludger Schuknecht also discusses his latest book, Public Spending and the Role of the State - History, Performance, Risk and Remedies.

Germany’s political transformation and role in Europe

With a shifting geopolitical landscape, due to the Covid-19 response, US elections and rise of China, the upcoming election in Germany comes at an interesting time for European politics. Josef Joffe, publisher-editor of Die Zeit, joins David Marsh, OMFIF chairman, to discuss his new book Der gute Deutsche (The Good German). Presenting the case that Germany has gone through a cultural shift, both internally and in the eyes of external actors, the country’s leaders see European stability and unity as priorities. He explains his thinking behind the argument that whoever becomes the new German Chancellor will not change this and challenge the EU status quo.

Music: https://www.bensound.com/royalty-free-music