A New Round of Financial Crises in Emerging Markets?

This panel analyses whether it is likely that there will be a new round of crises in emerging markets or whether the conditions are fundamentally different today from those in the 1980s and 1990s.

Members event, Panel Recording
18 July 2018 — 6:00PM TO 7:00PM
Chatham House | 10 St James's Square | London | SW1Y 4LE London

Emerging markets are once again in the headlines. The IMF has announced a $50 billion Standby Agreement for Argentina, the Turkish lira is precarious and investors are unnerved by forthcoming elections in Brazil and Mexico.

Financial stress in developing countries is nothing new. The root cause is the same today as it has been repeatedly over the past decades ‒ a tightening of monetary conditions in the United States.

Against the backdrop of a strengthening dollar and rising interest rates in the US, the panel analyses whether it is likely that there will be a new round of crises in emerging markets or whether the conditions are fundamentally different today from those in the 1980s and 1990s.

China also plays a significant role in this situation and it seems highly probable that China’s role in shaping the economic environment for developing countries will be decisive. Is China a benign force for emerging economies or a conduit for crises?

This event marks the publication of David Lubin’s book, Dance of the Trillions: Developing Countries and Global Finance, which is part of the Chatham House and Brookings Institution Press Insights series.

Participants

David Lubin, Head, Emerging Markets Economics, Citi; Associate Fellow, Global Economy and Finance Department, Chatham House

Dr Jing Gu, Director, Centre for Rising Powers and Global Development, Institute of Development Studies, University of Sussex

Dr Robert Falkner, Research Director, Grantham Research Institute on Climate Change and the Environment; Associate Professor of International Relations, LSE; Associate Fellow, Energy, Environment and Resources Department, Chatham House

Chair: Dr Linda Yueh, Economist, Oxford University and London Business School; Author, The Great Economists

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