What is the state of the global economy in the age of populism? | Banks


In the world of geopolitics and geo-economics, the year 2019 has been eventful so far. Central bank governors across the world have been threatened, have resigned, or were fired by populist leaders.

At the same time, the global economy is slowing, due to the ongoing trade war between the United States and China while the International Monetary Fund (IMF) cut its global growth outlook, saying that missteps on trade and Brexit could hurt the recovery.

The world economy will expand by 3.2 percent this year, according to the IMF – the weakest levels since 2009. But the IMF’s growth predictions are far more optimistic than those of some independent analysts.


Around the world – Latin America, Asia and the US – we are seeing signs of protectionism and economic populism, which has reasons for all of us to fear – from the Middle East to Turkey to Argentina.

Tim Harcourt, author and JW Nevile fellow in economics at the University of New South Wales

Meanwhile, sanctions and the threat of even more of them have ramped up tensions in the Middle East. Plus, the ongoing Brexit saga and numerous elections could change both the political and economic landscape, not necessarily for the better.

What is the state of the global economy in the age of populist governments, protectionism and trade wars? With monetary policy becoming increasingly political, is the independence of central banks under threat?

We are checking the pulse of the global economy.

Guests:

Jimena Blanco – head of Latin America research at Verisk Maplecroft

Tim Harcourt – author and JW Nevile fellow in economics at the University of New South Wales

Akber Khan – senior director of asset management at Al Rayan Investment

Source: Al Jazeera News



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