The Centre for Social and Economic Progress hosted the Flagship Seminar on Asia and the Changing Global Economy: Outlook and Risks Ahead. The seminar was scheduled to take place virtually on March 30th, 2022 at 6:00 pm – 7:30 pm IST.

About the event:

The global recovery in the emerging post-pandemic landscape is exposing fault lines between countries that are creating divergences in economic prospects. These have been compounded by Russia’s invasion of Ukraine and its global implications for economic divisions. Taken together, these are likely to especially hurt the outlook for emerging markets. Inflation has clearly picked up, and the consequent tightening of financial conditions could lower the growth outlook and further delay the regaining of their pre-pandemic trend growth path, with high social inequities. There could be an important reversal of capital flows out of emerging markets and developing countries and into advanced economy “safe havens”, which could result in a very bumpy road ahead for many countries.

For the global economy to emerge from the COVID crisis more evenly and sustainably, the first step must be to end the war quickly. In any event, a stronger and well-coordinated multilateral response is needed to sustain the international framework for global trade and investment and rebuild pro-productivity policies across the global landscape. However, across countries, the rise of social and political divisions is dramatically testing the policy environment and making it difficult to move ahead with the institutional reforms, debt restructuring, and trade liberalization that the global economy now needs. The changing global economy has been further upended by the invasion of Ukraine, which will further complicate the return to higher growth potential in the post-pandemic period. In this context, and considering lessons from past crises such as the global financial crisis of 2008-09, how can Asia regain its primacy in leading the global economic recovery?

Chair: Rakesh Mohan, President and Distinguished Fellow, CSEP
Opening Remarks: Current Context, Anoop Singh, Distinguished Fellow, CSEP
Panelists:

• Anne Krueger, Senior Research Professor of International Economics, Johns Hopkins School of Advanced International Studies
• Martin Wolf, Chief Economics Commentator, Financial Times, London
• Naushad Forbes, Co-Chairman, Forbes Marshall

Concluding Remarks: Rakesh Mohan, President and Distinguished Fellow, CSEP

Please contact Kevin James for general inquiries and Malvika Sharad for media inquiries.

All content reflects the individual views of the speakers. The Centre for Social and Economic Progress (CSEP) does not hold an institutional view on any subject.