WPC 2015 Plenary session 1: Global economic order at the Crossroads
Channel: World Policy Conference TV
Date: 2015-11-20

Session 1: Global economic order at the Crossroads

The revolution in information technologies and the geographical redistribution of economic power, in particular the emergence of China and weakening of the European Union, have led to a correction in the economic order resulting from the Second World War. Examples of this change are the rise of the G20 following the 2007-2008 crisis, and the weakening of trade multilateralism in favour of bilateral or plurilateral agreements.
Many observers are placing increasing importance on “geoeconomics”, understood as the intersection of international economics and geopolitics.
For example, the Chinese initiative to create the AIIB (Asian Infrastructure Investment Bank) should be analysed from this perspective. Growing interest in “geoeconomics” is also based on the increased importance of sanctions as a means of action in international relations. More thoroughly, one could argue that, despite appearances, certain aspects of globalisation might be in peril. Without ignoring the cyclical aspects of the global economy, the primary purpose of this session is to shed light on this fundamental question.

Moderator:
Virginie Robert, Foreign desk editor, Les Echos
Speakers:
1. Motoshige Itoh, Professor, Graduate School of Economics, Faculty of Economics, University of Tokyo, Advisor to the Prime Minister
2. John Lipsky, Senior Fellow, Foreign Policy Institute at Johns Hopkins University’s Paul H. Nitze School of Advanced International Studies (SAIS); former First Deputy Managing Director, IMF
3. Mario Monti, Chairman of the High Level Group on Own Resources, European Commission, former Prime Minister of Italy
4. Il Sakong, Chairman of the Institute for Global Economics, former Finance Minister of Korea