Author:
Henry M. Paulson, Jr.
China Wants to Be the World’s Banker
The U.S. remains the dominant force in the financial-services industry, leading in nearly every area of finance, from venture capital and private equity to banking and asset management. The liquidity and scale of U.S. capital markets support the primacy of the dollar, which allows Americans to pay less for foreign goods and helps finance U.S. government spending. America’s financial leadership, however, is increasingly being challenged by fierce competition from abroad and by shortsighted and counterproductive policies at home. Maintaining U.S. financial pre-eminence should be a priority for the Biden administration.
Read MoreHenry Paulson: Save globalisation to secure the future
Covid-19 has resulted in more than a deadly pandemic. It has tipped the world economy into its most severe crisis since the Depression. As the virus’s spread slows and governments rebuild, they face another force sweeping in its path: isolationism. The impending battle will pit forces of openness rooted in market principles against those of closure across four dimensions: trade, capital flows, innovation and global institutions.
Read MoreHow to raise trillions for green investments
Saving our planet from the worst effects of climate change won’t be cheap. A new report from the United Nations says that the world will need to mobilize $90 trillion in public and private capital over the next 15 years.
Read More.png)
.png)
