Invested: The OMFIF Podcast

David Dollar, former US Treasury and World Bank representative in Beijing and one of the world's leading China experts, joins Mark Sobel, US chairman of OMFIF, to discuss Chinese economic developments. David sees the Chinese economy now getting back on its feet, but observes it will face headwinds from changed consumption habits and a global slowdown.  

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

OMFIF's Julie Levy-Abegnoli looks back over some of the most recent articles published on the OMFIF website, including those on Europe's 'Hamiltonian' moment, oil prices, and helicopter money.

Articles and other items referenced:

1. Disappointment beckons on ‘Hamiltonian moment’: https://www.omfif.org/2020/04/alexander-hamilton-not-the-answer/
2. Helicopter money’s unearned popularity: https://www.omfif.org/2020/04/helicopter-moneys-popularity-unearned/
3. Worse to come for oil: https://www.omfif.org/2020/04/worse-to-come-for-oil/
4. EU virus response to shape climate action: https://www.omfif.org/2020/04/eu-virus-response-to-shape-climate-action/
5. French and EU response to Covid-19: https://www.omfif.org/events/french-and-eu-response-to-covid-19/
6. Economic impact of Covid-19 in Indonesia: https://www.omfif.org/events/economic-impact-of-covid-19-in-indonesia/
7. Hong Kong's resilience tested: https://www.omfif.org/events/covid-19-hong-kongs-resilience-tested/
8. Ensuring market access throughout the crisis: https://www.omfif.org/events/ensuring-market-access-throughout-the-covid-19-crisis/

Music: Hey Mercy by Pierce Murphy is licensed under an Attribution License.

Wolfram Seidemann, chief executive officer of G+D Currency Technology, joins David Marsh, chairman of OMFIF, to discuss the OMFIF report, 'Digital currencies: A question of trust'. Published in February, this explores global public confidence in monetary, financial and payment institutions. The findings, based on a global survey of more than 13,000 individuals, reveal that those in advanced economies have little confidence in digital money issued by a technology or credit card company. Attitudes to digital money vary depending on respondents' income, education, age and nationality.

Wolfram and David's conversation covers the impact of coronavirus on people's trust in payments systems, and what the report means for central banks considering issuing digital currency.

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

Paul Tucker, chair of the Systemic Risk Council and former deputy governor of the Bank of England, joins Mark Sobel, US chairman of OMFIF, to discuss the implications of coronavirus for the world economy. Since the 2008 financial crisis, much has been done to strengthen banks. But in recent years, the financial system has seen a concerning build-up of leverage and interconnectedness, especially in non-banks. Inadequate margining requirements have aggravated the liquidity shocks from the crisis, forcing central banks into even more dramatic action than otherwise would have been entailed. There will clearly be a need for post-mortems and reforms.  

Paul discusses the blurring of fiscal and monetary policies, how these interactions will raise questions about democratic accountability, and how fiscal and monetary authorities should organise themselves. International co-operation is insufficient, particularly in comparison with the 2008 crisis. It is unfortunate in this regard that US authorities so heavily framed the country post-global financial crisis in terms of the Dodd–Frank Wall Street Reform and Consumer Protection Act, rather than acknowledging and embracing more firmly the international regulatory reform dimension.   

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

In this episode of Synopsis, OMFIF Subeditor Julie Levy-Abegnoli looks back over some of the most recent articles published on the OMFIF website, including those on a possible European fiscal response to the crisis, life after the pandemic, and what the outbreak means for sovereign investment and, possibly, your taxes.

Articles and other items referenced:

1. Shortcomings in US sovereign investment: https://www.omfif.org/2020/03/coronavirus-crisis-lays-bare-shortcomings-in-us-sovereign-investment/
2. After the Covid-19 recession: https://www.omfif.org/2020/03/after-the-covid-19-recession/
3. The undeniable case for wealth tax: https://www.omfif.org/2020/04/the-undeniable-case-for-wealth-tax/
4. Slow restart for China's economy: https://www.omfif.org/2020/04/slow-restart-for-chinas-economy/
5. Three options for European fiscal action: https://www.omfif.org/2020/04/three-options-for-european-fiscal-action/
6. ECB and Fed innovate in disparate ways: https://www.omfif.org/2020/03/ecb-and-fed-innovate-in-disparate-ways/
7. Outlook for Malaysia amid political uncertainties: https://www.omfif.org/podcast/outlook-for-malaysia-amidst-political-uncertainties/
8. What Covid-19 means for financial stability: https://www.omfif.org/events/what-covid-19-means-for-financial-stability/
9. Assessing the economic impact of coronavirus: https://www.omfif.org/events/assessing-the-economic-impact-of-coronavirus/
10. Global economic outlook and Covid-19 policy response: https://www.omfif.org/events/global-economic-outlook-and-covid-19-policy-response/

Music: Hey Mercy by Pierce Murphy is licensed under an Attribution License.

The pandemic has resulted in unprecedented upheaval, with governments introducing sweeping measures to contain the virus. The Hungarian government is now ruling by decree. In times like these, good governance is more important than ever. Weeks before the outbreak, Beata Javorcik, chief economist of the European Bank for Reconstruction and Development, joined Julie Levy-Abegnoli, subeditor at OMFIF, to discuss why good governance is essential for economic growth, sustainability and people's wellbeing. They talked about reform in central and eastern Europe, and the effects of European Union accession on EBRD countries of operation.

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

Following a stunning election victory in 2018, Malaysia's Mahathir Mohamad, the world's oldest prime minister, resigned abruptly in February this year. This comes at a time when Malaysia faces a host of problems, including falling global oil prices and demand, and a growing public health emergency. Manu Bhaskaran, chief executive officer of Centennial Asia, joins OMFIF's Angelia Lee to discuss the economic and political situation in Malaysia, its future economic stability, and the country's response to Covid-19.

 

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

 

 

In this episode of Synopsis, OMFIF Subeditor Julie Levy-Abegnoli looks back over the most recent articles published on the OMFIF website, on China's economic recovery, the European Central Bank's coronavirus response, and how the pandemic will reshape the world economy.

Articles and other items referenced:

1. Resilient China can help lead global recovery: https://www.omfif.org/2020/03/resilient-china-can-help-lead-global-recovery/ 
2. Time for 'whatever it takes' support for banks: https://www.omfif.org/2020/03/time-for-whatever-it-takes-support-for-banks/
3. ECB 'only game in town' - again: https://www.omfif.org/2020/03/ecb-only-game-in-town-again/
4. Coronavirus will remould world economy: https://www.omfif.org/2020/03/coronavirus-response-to-remould-the-world-economy/
5. FedTalk: Communicating crisis response and the need for coordination: https://www.omfif.org/podcast/fedtalk-communicating-crisis-response-and-the-need-for-coordination/
6. Global liquidity in the time of coronavirus: https://www.omfif.org/podcast/global-liquidity-in-the-time-of-coronavirus/
7. Covid-19: Dispatches from London and Madrid: https://www.omfif.org/events/spanish-uk-responses-to-covid-19-financial-impact-and-implications-for-brexit/
8. Identifying key risks in US credit markets: https://www.omfif.org/events/identifying-key-risks-in-us-credit-markets/

Music: Hey Mercy by Pierce Murphy is licensed under an Attribution License.

James Sweeney and Zoltan Pozsar, chief economist and managing director at Credit Suisse respectively, join Pierre Ortlieb, economist at OMFIF, to discuss the impact of the Covid-19 pandemic on global dollar liquidity and the industrial production cycle. They touch on central bank responses present and future, the state of funding and capital markets, and the influence of post-2008 regulation.

Further reading:

https://www.omfif.org/2020/03/beyond-swap-lines/

https://www.omfif.org/2020/03/fed-treasury-coordination-requires-structural-change/

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

Thomas Costerg, senior economist at Pictet Wealth Management, joins Rein de Loor, programmes manager at OMFIF, to discuss the Federal Reserve's recent rate cuts in response to the coronavirus crisis. As central banks around the world  ease monetary policy, questions arise about global co-ordination and communication, as well as the role of fiscal policy in tackling the global upheaval.

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