From China: It’s the “Never Befores,” Stupid…

I was delighted to speak at the Stronger Global Economic Growth Conference held in Shanghai this past weekend.  My remarks focused on the vital – yet poorly understood – space at the intersection of financial markets and the global economy.

Today, growth is constrained by three “never befores”:

– Large scale intervention by central banks (new CFS Divisia data reveal counter-intuitive trends),
– A swell in the size of the financial regulatory apparatus,
– Distortions across a wide range of markets.

We address each and offer solutions.  The result would be reduction in the drain on growth as well as opening new possibilities for international monetary coordination.

For the full remarks:
http://centerforfinancialstability.org/speeches/Shanghai_022816.pdf

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