As the world economy seeks to emerge from the deep recession caused by the pandemic, economic nationalism and isolationism are on the rise. Yet the better response to lower growth and worsening inequality could involve globally-coordinated policy responses that focus on broad based, sustainable economic growth. Now more than ever it is time for a new global economic policy paradigm that can facilitate a strong recovery.
With the IMF predicting a contraction in global GDP of 5% in 2020 and infection rates continuing to soar, the burden on low-income households and countries is particularly severe, threatening recent gains in reducing global poverty. Join us as INET Commissioner Mohamed A. El-Erian discusses the key elements, both domestic and international, of a healthy global economic response to the coronavirus pandemic.
Mohamed A. El-Erian is a member of INETs Global Commission on Economic Transformation, the President-Elect of Queens’ College Cambridge and Chief Economic Advisor at Allianz, the corporate parent of PIMCO, where he formerly served as chief executive, and co-chief investment officer (2007-2014). He chaired President Obama’s Global Development Council, is a Senior Advisor at Gramercy, columnist for Bloomberg View, a contributing editor at the Financial Times, and the author of several books including two New York Times bestsellers (When Markets Collide and The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse). He is a graduate of Cambridge University and obtained maters’ and doctorate’s degrees in economics from Oxford University.
