The financial world is increasingly integrated and capital movements between emerging and advanced countries have become huge. In this article, I explore the consequences of this integration, the extent to which the world's financial power has already shifted from the industrialised to the emerging countries and the challenges these developments pose.
Three main themes emerge. First, the accumulation by emerging economies of spectacular current-account surpluses in recent years has contributed t
- A route to economic growth – The Belt and Road Initiative 2018 survey
- Policymakers should act now to prevent next crisis – IMF panellists
- The Bank of Italy’s approach to risk-based budgeting
- Fintech in the ‘new era’ – Sustainable and sound development
- China’s macroeconomy in the ‘new era’ of politics and power