World Economic Update
8:00 – 8:20 a.m. Breakfast
8:20 – 9:30 a.m. Meeting
Research links about international trade and investment, including news, policy, agreements, and markets.
The new BRICS Bank and Contingent Reserve Arrangement initiatives are, despite stated Russian ambitions, wholly unconvincing responses to the shortcomings of the Bretton Woods institutions and the dollar-based global financial architecture.
The normal rhythm of politics tends to lead most nations’ economies around in a circle, ashes to ashes. This life cycle starts with a crisis, which forces leaders to reform, which triggers an economic revival, which lulls leaders into complacency, which plunges the economy back into crisis again.