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China faces up to limits of technology, The case for CBDC and the role of blockchain, and more

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China faces up to limits of technology, The case for CBDC and the role of blockchain, and more

Latest opinion and analysis from OMFIF around the world

2-6 November 2020, Vol.11 Ed.43

Most-Read Commentary

China faces up to limits of technology: China has demonstrated impressive technological prowess in digital payments, e-commerce, blockchain, artificial intelligence and machine learning. These innovations have arguably made life easier and safer. However, technology alone cannot solve major economic challenges. One of the main difficulties that China faces is shifting its focus from exports to domestic priorities, consumption and investment. This restructuring will change how resources are deployed, a problem that technology alone cannot remedy, writes Herbert Poenisch. Read more.

Commentary

Covid, central banks and climate crisis: One of the more surprising outcomes of the Covid-19 crisis is the way it has deepened efforts across the financial system to build a sustainable economy. More and more central banks have committed to green finance, recognising the shared roots of the pandemic and climate change, writes Nick Robins.  Read more.

Podcast

The case for CBDC: Dmitry Tokarev, chief executive officer of Copper, joins David Marsh, chairman of OMFIF, to discuss central banks’ interest in digital currencies, as well as their impact on commercial banks. They look at whether the pandemic has moved society towards being cashless and what threats CBDCs pose to the financial system and monetary policy. Listen to the recording.

Commentary

Digital thinking and tinkering: Monetary, regulatory, and macroprudential policies have traditionally been the main focus of central banks and financial regulators. Increasingly, monetary authorities are experimenting with a host of technologies. Leaning into the future and leading with foresight will require digital thinking and tinkering, writes Ryan Peterson. Read more.

Video

Monetary policy in the face of Covid-19: The Covid-19 pandemic has plunged economies all over the world into crisis. Governments responded promptly, rolling out large-scale fiscal support. Sovereign debt in the euro area is expected to rise substantially. Jens Weidmann, president of the Deutsche Bundesbank, discusses recent developments in monetary policy. Watch the recording.

 

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