The sixth Bund Summit convened on Thursday in Shanghai, one of the world's premier financial hubs, amidst pressing global challenges such as economic fragmentation and climate change.
Over the course of three days, leading financial experts and academics gathered to discuss strategies for navigating a rapidly changing global landscape. Despite the World Bank's optimistic projection of a \"soft landing\" for the global economy in 2024, with growth estimated at 2.7 percent, this pace remains significantly below pre-pandemic levels.
\"Countries should avoid a vicious cycle of trade restrictions and instead pursue further integration where possible,\" emphasized Anna Bjerde, the World Bank's managing director for operations, highlighting the need for collaborative economic policies.
Adding to the discourse, Jean-Claude Trichet, former president of the European Central Bank, underscored the pivotal role of global value chains in fostering economic prosperity over the past few decades. He noted, \"Europeans, in particular, are opposed to the concept of decoupling,\" stressing the importance of maintaining interconnected economic networks.
Reference(s):
Bund Summit: Navigating a changing world through connectivity
cgtn.com
