Full Description
This book explores the central economic and political issues defining the modern world. With contributions from a number of world renowned economists, a range of topical debates are discussed in an accessible and practical manner. The topics discussed include the current economic and political backdrop, global economic shifts, challenges within central banking and financial integration, the international monetary and financial system, and geopolitical tensions. Particular attention is given to the transition to a low carbon economy, the perils of public debt, the post-COVID-19 recovery, and the conflict in Ukraine.
This book aims to envisage the economic challenges and opportunities that will be faced in the years to come. It will be relevant to students, researchers, and policymakers interested in economic policy and the political economy.
Chapter-No.17 is available open access under a Creative Commons Attribution 4.0 International License via link.springer.com.
Contents
1. What next for the global economy: Could negative supply shocks disrupt fragile systems?.- 2. Deep historical roots, culture choice and the New World Order.- 3. Growth without democracy: Has China's time of rapid growth come to an end?.- 4. Coping with international monetary instability.- 5. Dollar funding stresses in China.- 6. Four challenges faced by central banks in the post-Covid world.- 7. How the flows change when interest rates are normalized: Risks to economic and financial stability.- 8. Policies for macroeconomic and financial stability in small, open and financially integrated economies.- 9. The transition to a low carbon economy.- 10. Denunciations and Information Gathering - How and When Are They Effective?.- 10. The perils of public debt.- 11. The Fed's swap lines: Narrow circle, broad effect?.- 12. Bond market crisis and the international lender of last resort.- 13. Building the plumbing of global commerce: resilience and fragility in the cross-border payments system.- 14. Mimicking the West: Russia's rationale for wars, state recognitions, and border changes.- 15. Different choices, divergent paths: Poland and Ukraine.- 16. Economic consequences of global tensions.
