SDRF and Friedrich-Ebert-Stiftung (FES) Shanghai Representative Office co-hosted the "2024 Shanghai Symposium on Global Finance" on November 12, 2024, with the theme of "The 80th Anniversary of the Bretton Woods System - The International Financial System in the Current Geopolitical Environmen".
In session 1 "Global Economy and Finance in the Current Environment of Geopolitics", Mr. Jin Liqun, Chairman and President of the Asian Infrastructure Investment Bank, and Mr. Thomas Ferguson, Director of the Institute for New Economic Thinking (INET), delivered keynote speeches respectively. President Jin discussed the history, achievements and demise of the Bretton Woods institutions, stressed the importance of multilateralism in global cooperation, and noted that multilateral development banks need to reform to remain relevant and efficient as they adapt to change. He also mentioned the establishment and operation of the AIIB as a new type of multilateral institution, demonstrating China's contribution to global economic governance. Thomas Ferguson examines the complexity of the U.S. election, emphasizing the central role of economic issues in the election, and discusses the Trump administration's China policy, challenges in U.S. domestic and foreign affairs, and changes in defense spending. He noted that despite political polarization, economic issues remain the top concern of voters, and stressed the importance of face-to-face exchanges between China and the United States. In the following roundtable discussion, Xu Mingqi, Vice Chairman of the Shanghai Center for International Economic Exchanges, and Wei Zongyou, professor of the Center for American Studies at Fudan University, spoke respectively and discussed.
In session2 "Implications of Geopolitical Fragmentations to Financial Stability", Steven Barnett, IMF Chief Representative in China, delivered a speech on "Global Outlook and Strengthening International Cooperation," and Han Wang, Chief economist of Industrial Securities, delivered a speech on "U.S. Policy and the Federal Reserve at a Crossroads".
Recording of session 2
In session 3 "Bretton Woods at 80 (I): Overview on the Achievements and Failures of Bretton Woods System", David Vines, Professor of Economics and Senior Scholar at Balliol College, University of Oxford, delivered a keynote speech on "The Place of the International Monetary System in Twenty First Century Global Economic Governance", which was commented on by Yide Qiao, vice chairman & secretary general of SDRF. Afterwards, Xian Zhu, Vice President and Secretary General of International Finance Forum (IFF), Former Vice President of the World Bank, delivered a speech on "The Evolution, Experiences, and Prospects of the Bretton Woods System", and Yu Ye, Assistant director of the Institute for World Economy Studies, Shanghai Institutes for International Studies (SIIS), delivered a speech on "TThe Dilemma of the Security-Development Nexus and the Challenges of Fulfilling the World Bank's Mission".
In session 4 "Bretton Woods at 80 (II): Sovereign Debt Crisis in the Global South", Paola Subacchi, Professor of International Economics at the Institute of Global Policy, Queen Mary University of London, UK, delivered a keynote speech"BW at 80: Sovereign Debt Crisis, Finance for Development and Governance Reform", and Zhongxia Jin, Director General, Treasury and Portfolio Management, NDB, made comments. Subsequently, Chunyan Wen,, a researcher at the SDRF, delivered a speech on "China’s Approach to Sovereign Debt Resolution for Global South Countries", and Meibo Huang, Director of International Development Cooperation Academy, Shanghai University of International Business and Economics, delivered a speech on "International Sovereign Debt Governance Mechanisms and the
Role of the Bretton Woods System".