Keynote Speech and Dialogue: Global Financial Turbulence and Changes in the World Order

Jiandong Ju

Chapter Chapter 1 in 2023 Global Financial Turbulence and Economic Outlook, 2024, pp 1-27 from Springer

Abstract: Abstract In view of the current bilateral economic and trade relations between China and the United States, Stephen Roach believes it is necessary to enhance Sino-US bilateral communication and mutual trust, and jointly address the risk of global recession. Firstly, China and the United States need to rebuild trust, such as by reopening consulates, relaxing visa restrictions, and easing restrictions on non-governmental organizations; secondly, it is important to lower investment barriers between the two countries and reach a consensus on investment protection agreements. Lastly, Roach suggests the establishment of a Sino-US Secretariat, serving as the core of the new diplomatic framework between the two countries, playing a proactive role in the communication and coordination of national affairs. In response to the issue of global financial instability, Min Zhu believes that the banking industry is facing systemic mismatches and the global liquidity crisis will continue to spread. DaoKui Li believes that to maintain and ensure growth, the Chinese government and the market must act simultaneously, and the regulation of artificial intelligence must depend on the coordination and cooperation between China and the United States. Finally, given the backdrop of the current world economic turbulence, Jiandong Ju believes that China should adhere to a nine-(Chinese) character strategy in the competition of great powers: not seeking hegemony, stabilizing the Asian market, and sharing benefits for all.

Keywords: Economic growth; Sino-US conflict; US monetary policy; Asian community; Artificial intelligence (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/978-981-97-0206-0_1

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