The global recovery has gained momentum, but how can we sustain it and ensure more people reap the benefits? Technological advancements, global integration, and the rise of the sharing economy create opportunities, but also present enormous challenges, especially for low-skilled workers. The panelists discuss how to strengthen the recovery and design public policies that create durable and inclusive growth.
The panelists discussed how to strengthen the recovery and design policies that create durable and inclusive growth.
Moderator: Richard Quest, Anchor, CNN International
Panelists:
Christine Lagarde, Managing Director, IMF
Gita Gopinath, Professor of Economics, Harvard University
Sri Mulyani Indrawati, Minister of Finance, Indonesia
Bruno Le Maire, Minister for the Economy and Finance, France
William Morneau, Minister of Finance, Canada
Key Points:
Quotes:
“Growth may not always reduce inequality, but it has been fantastic for reducing poverty.” Gita Gopinath
“It’s all very well talking about tax rates, but you also have to talk about the tax base. It’s like the difference between cheddar cheese and Swiss cheese. Cheddar has no holes and Swiss cheese is full of holes.” Christine Lagarde
“We need to avoid the old idea that when things seem better, we don’t implement reforms because we think they are no longer needed. On the contrary, because things are better, we should accelerate reforms.” Bruno Le Maire
“[Protectionism] would undo one of the great achievements of past decades, which is the openness of economies creating spillovers of prosperity, allowing low income countries to become rich countries” Sri Mulyani Indrawati
“The collective goal of the G7 should be how do we address these [economic] changes and adjust to the speed at which some of these changes hit us.” William Morneau
Richard Quest
Anchor, CNN International
Richard Quest is anchor of Quest Means Business and Quest Express of CNN and hosts the monthly program CNN Business Traveller. He formerly anchored the monthly show Quest and the daily show CNN Today. Prior to joining CNN, Quest worked at the BBC, where he was the North America business correspondent, based on Wall Street for 12 years. Quest is British and holds an LLB (Hons) degree in Law from Leeds University.
Christine Lagarde
Managing Director
IMF
Christine Lagarde has been Managing Director of the International Monetary Fund since July 2011. She held various ministerial positions within the French government, including Finance and Economy Minister (2007–11), Minister for Foreign Trade, and Minister for Agriculture and Fisheries. She was also Chairman of the Global Exchange Committee and Global Strategic Committee of Baker & McKenzie.
Gita Gopinath
Professor Economics
Harvard University
Gita Gopinath is the John Zwaanstra Professor of International Studies and of Economics at Harvard University. She is also co-director of the International Finance and Macroeconomics program at the National Bureau of Economic Research; visiting scholar, Federal Reserve Bank of Boston; economic advisory panel member, Federal Reserve Bank of New York; Economic Adviser to the Chief Minister of Kerala state (India); and co-editor of American Economic Review. Previously, she advised India's Ministry of Finance on G-20 matters and was an assistant professor of economics at the University of Chicago. In 2011, she was chosen as a Young Global Leader by the World Economic Forum.
Sri Mulyani Indrawati
Minister of Finance
Indonesia
Sri Mulyani Indrawati has been Indonesia’s Minister of Finance since 2016. Previously, Sri Mulyani was Managing Director and Chief Operating Officer of the World Bank from 2010–16, and also served as Executive Director of the IMF from 2002–04. She was Indonesia’s Minister of Finance from 2005–10. Sri Mulyani is currently the Chair of the Development Committee of the IMF-World Bank Annual Meetings. Sri Mulyani has a Ph.D. in Economics from the University of Illinois.
Bruno Le Maire
Minister of Economics and Finance
France
Bruno Le Maire was appointed Minister for the Economy and Finance of France in May 2017. He began his career at the Ministry of Foreign Affairs. In 2002, he became Strategic Affairs Adviser to the Minister of Foreign Affairs, followed by Adviser to the Minister of the Interior in 2004. In 2005, he served as an adviser to the Prime Minister and then as Chief of Staff from 2006 to 2007. In 2008, he was named Minister of State for European Affairs before being appointed Minister for Agriculture and Fisheries in 2009. In 2012, he was elected MP for the first constituency of the Eure département. He is a graduate of the École nationale d'administration and Sciences Po Paris with a higher degree in French language and literature.
William Morneau
Minister of Finance
Canada
William Morneau was appointed Finance Minister of Canada on November 4, 2015, following his election as the Member of Parliament for Toronto Centre. He became President of Morneau Shepell in 1992. Under his leadership, the company became the largest Canadian human resources company, employing 4000 people in Canada and around the world, and he took the company public in 2005 on the TSX. Morneau studied retirement issues as a member of the Government of Ontario’s Pension Advisory Council and in 2012, he was appointed as Pension Investment Advisor to Ontario’s Minister of Finance. He holds a B.A. from Western University, an M. Sc. from London School of Economics, and an MBA from INSEAD.
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