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Globalisation and Finance at the Crossroads

  • Adrian Blundell-Wignall
  • Paul Atkinson
  • Caroline Roulet
Chapter

Abstract

The authors argue that four issues will condition how globalisation evolves over coming decades: (i) the management of financial risk in advanced countries; (ii) the long-term asset return implications of distorted policy; (iii) the outcome of China’s ambitious attempt to build a vast alternative economic region (the Belt and Road) based on principles opposed to those prevailing in advanced countries; and (iv) the building financial risks in China. They point out that China has taken a longer-term strategic view but relies less on markets and sound governance. They conclude that how this plays out will depend on which part of the world turns out to have the least coherent approach. Extreme outcomes will be likely if things do not go well in either of these parts of the world.

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Adrian Blundell-Wignall
    • 1
  • Paul Atkinson
    • 2
  • Caroline Roulet
    • 3
  1. 1.University of Sydney and OECD (consultant advisor to the Secretary General, and former Director of the Financial and Enterprise Affairs Directorate)ParisFrance
  2. 2.NHA Economics, Ltd.ParisFrance
  3. 3.Organisation for Economic Co-operation and DevelopmentParisFrance

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