Unprecedented cooperation leads to rebalancing of global economy

DIIS seminar on financial crisis governance and beyond

An optimistic view on current developments in the global economy was presented by Professor Ajit Singh from University of Cambridge at an internal DIIS seminar last week. Singh praised the G20 agreement from last April as historically unprecedented and commented that “in retrospect this crisis episode will not only be regarded as a triumph for Keynesian economics but will also bring credit to the policymakers including Barack Obama, Ben Bernanke, Larry Summers and Gordon Brown, yes, Gordon Brown.” In his list of grounds for optimism, he also mentioned the vast growth potential of developing countries, especially China and India.

Professor Singh’s Powerpoint Presentation and a summary of his argument is now available online.