Managing the fallout from recent global crises will require not just solidarity and collective action but also a stronger commitment to reducing inequality in all its forms. But governments can't do everything, while businesses – particularly banks and financial institutions – will need to do more.
PARIS – “We live in a more shock-prone world,” IMF Managing Director Kristalina Georgieva recently observed, “and we need the strength of the collective to deal with shocks to come.” She’s right. In the space of just a few weeks, Russia’s invasion of Ukraine has already shifted geopolitical lines, plunging the world into widespread uncertainty and opening new diplomatic rifts. Societies will need to redefine their choices to account for new global dynamics affecting fundamental issues such as food, energy, and digital security, and the organization of global trade.
PARIS – “We live in a more shock-prone world,” IMF Managing Director Kristalina Georgieva recently observed, “and we need the strength of the collective to deal with shocks to come.” She’s right. In the space of just a few weeks, Russia’s invasion of Ukraine has already shifted geopolitical lines, plunging the world into widespread uncertainty and opening new diplomatic rifts. Societies will need to redefine their choices to account for new global dynamics affecting fundamental issues such as food, energy, and digital security, and the organization of global trade.