#IMF in #Korea — thinking beyond the #EU #banking crisis
While most of us await the outcomes of yet another meeting of EU finance ministers, half a world away in the Republic of Korea tectonic shifts are underway in the global economic policy process. The IMF today and tomorrow is co-hosting in Korea a conference focused on how the Asian economies can contribute leadership (economic as well as political) and vision to address the economic vulnerabilities of today’s financial markets. Clocking in at 2.5 hours, this link to a video of the opening session at the conference website (www.asia21.org) shows a remarkably free-wheeling discussion among Asia’s economic policy and business leaders in English on the topic of how they see today’s challenges and opportunities affecting their role in the global economy. It is interesting on multiple political levels beyond the substance of economic policy as well. The themes sounded here are consistent with many of the themes I heard recently at the Peterson Institute for International Economics from a senior Korean economic policymaker regarding their priorities for the G20 summit in November at the end of the year.
For a sense of how all this translates into potential scenario and stress test analysis, stay tuned for the next issue of The Risk Telescope, which will be out soon….
