Global Economy Seeks New Framework
Paul Gruenwald, speaking on the sidelines of the 56th annual World Economic Forum (WEF) in Davos, Switzerland, noted that issues such as “trust in the system, trust in the major countries, and companies” are among the most discussed topics at this year’s WEF. Nations and corporations are attempting to adjust to evolving supply chains, trade corridors, and financial transformations.
“I think the old system, which was based on the idea that markets are good, free trade is good, free flow of capital is good, (a) kind of a borderless world (…) Now we have a lot of security and geopolitical concerns that are overriding trade,” Gruenwald explained.
He added, “We're trying to find a new order, but I think navigating those risks, building in redundancies, being more opportunistic in who we’re partnering with, hedging our exposures—those are some of the big things. (…) The old order was kind of underwritten by the US as the benevolent hegemon, and I think that role is evolving.”
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
