ICC Representatives Attend Tao Xiang International Finance Lecture

The 214th Macro-Financial Salon and the 29th Tao Xiang International Finance Lecture was organized by the Renmin University of China (RUC) on September 14, focusing on “Global Trade and External Rebalancing”. Special guests at the seminar include Steven Alan Barnett, Chief Representative of the International Monetary Fund (IMF) in China, and Chen Jiaqian, Deputy Division Chief of the Open-Economy Macroeconomics Division of the IMF Research Department. The event was presided over by Zhang Zhixiang, member of the Strategic Advisory Committee of the International Cooperation Center (ICC) and former Executive Director of the IMF.

A report released by the IMF in July highlighted that in recent years, emerging and developing economies have faced mounting inflation and imbalanced external position, resulting in increased currency depreciation pressures. Three consecutive years of rises in global current account balances reflect the uneven repercussions of the pandemic and shifts in the terms of trade. During this seminar, participants discussed pivotal factors concerning international balance of payments and economic growth. Concerns were expressed regarding the deceleration of global economic growth and the fragmentation of geopolitical economy. Notable remarks were put forth, such as recommending countries to leverage monetary policy when crafting national fiscal policies and diversifying international monetary system through reforms.

Speeches were also given by Tu Yonghong, Deputy Director of the International Monetary Institute of RUC and Director of Yangtze River Economic Zone Research Institution of the RUC, Zhao Xijun, Co-Director of China Capital Market Research Institute of the RUC, and Zhai Dongsheng, Deputy Dean of the School of International Studies of RUC during the seminar. Additionally, Cheng Yu, Executive Secretary-General of the ICC, and Xiao Wu, Deputy Director of the External Exchange Committee of the ICC, along with Jiang Nan, committee member of the External Exchange Committee, were invited to the seminar.