Does Economic Nationalism Threaten the World Economy
Many of the issues addressed in Asia Society's recent task force report, Growing Together Beats Falling Apart: Making Asian Economic Integration Work for Asia, the United States and the World, were discussed when President Hu Jintao visited Washington this January. American lawmakers have accused the Chinese of manipulating their currency in order to promote exports, while the Chinese have argued that the Fed's injection of $600 billion into the US economy last year amounted to the same thing. Are both sides guilty of engaging in economic nationalism at a time when global cooperation is so crucial? Where is the line between necessary stimulus and harmful manipulation? At a time when many Asian economies are growing faster than most developed world economies, and Asian populations and states are more interconnected than ever before, how can we ensure that Asia's increasing economic prosperity and integration benefit not just Asia, but the world as a whole? What can forestall a rising tide of protectionism, currency and capital control, trade imbalances, and other impediments to free trade?
Please join us for a keynote speech by Professor Lawrence Summers, former Director of the White House National Economic Council for President Barack Obama, followed by a panel discussion with members of the task force.
William R. Rhodes, President and CEO, William R. Rhodes Global Advisor, LLC; Senior Advisor and Former Senior Vice Chairman, Citigroup, Inc.
Kathleen Stephansen, Managing Director and Head of Economic Strategy, AIG Asset Management
Jamie Metzl, Executive Vice President, Asia Society
Can't make it to this program? Tune in to the free live video webcast on AsiaSociety.org/Live from 1:00 to 2:00 pm ET. Online viewers are encouraged to submit their questions to [email protected] during the webcast.
Video: Lawrence Summers argues "we all have a very great stake" in the global economic rebalancing (1 min., 37 sec.)