China and other leading emerging market economies in the Brics group have effectively frozen out Russia from a ground-breaking reserve-pooling mechanism, demonstrating US success in isolating Moscow over the Ukrainian war. As a result of America’s global monetary power, Russia’s economic allies refuse to run the slightest risk of suffering US financial reprisals against countries breaking western sanctions. There are widespread expectations that Moscow may soon default on foreign debt.
End of globalisation concerns are exaggerated By Mark Sobel Russia’s barbaric war against Ukraine has given risen to much discussion about the world moving towards two blocs, decoupling and the end of globalisation. While these factors will combine to spawn fundamental geopolitical and economic changes, many of the prognostications seem exaggerated.
ON DEMAND Developing ESG in financial markets Sherry Madera, Matthew Blake and Haleh Nazeri join OMFIF’s Emma McGarthy to discuss the need for environmental, social and governance talent development and acquisition in financial services and the skills required to meet net zero.
Data: Towards a new age of economic enlightenment As regulators and policy-makers work to balance protection and innovation in their evolving frameworks, this landmark report explores the use of data and its potentially transformative impact on developments in the global economy, financial services, the business community and society as a whole.
