International Finance, Trade and Geo-economic Trends

Global Financial Imbalances
Changing Dynamics of the Global Economic Order

Economic integration and the emergence of new economies, of which China is the most visible, are changing the dynamics of the global economic order. China, simultaneously a developing economy, an economy in transition and a global economic power, is acting as a powerful growth engine for the developing world and as the US's major creditor. This is uncharted territory. Much of the world economy has come to depend considerably on the Chinese market and on Chinese finance; so, for the global economy, China's growth needs to be sustained.

However, fear of China and trade frictions with economic partners poses future risks. Competition for resources and shifts in strategic alliances to better serve the economic interests of the emerging economies are likely to further increase geopolitical instability.

This project focuses on these potential geo-political tensions and assesses the long-term economic, strategic and foreign-policy implications of the transition from the old order to the new.

Related Past Events

Chatham House - Qatar Financial Centre Authority
The Gulf region: the new 'hub' of global financial power?
Doha, 11 June, 2007

Chatham House - Evian Group China Meeting II
China: Forging a path to greater global growth
Shanghai, 20-21 November 2006

Papers

Chatham House - Evian Group - 2005 Hong Kong Initiative
China, Global Imbalances and the Global Multilateral Economic System
Conference Report, May 2006

Shaping a New Global Economic Order
Article by Paola Subacchi, June 2007 (reproduced with kind permission of G8 Summit 2007 magazine)

Global financial markets: how emerging market economies are enlarging the playing field
Presentation by Paola Subacchi and Vanessa Rossi, June 2007

China and India in the Changing Global Economic Order
Conference Paper, Paola Subacchi, Jan 2007

Evian Group Hong Kong Initiative
China, Global Imbalances, and the Global Multilateral Economic System
Meeting Report, May 2006

A new fiscal framework for GCC countries ahead of monetary union
Briefing Paper, Daniel Hanna, May 2006

Tokyo Club Foundation for Global Studies Conference - The Future Structure of International Capital Flows
Macroeconomic performance and global capital flows: is there a role for Europe to play?
Conference Paper, Paola Subacchi, November 2005

The Chinese Economy: Risky Reporting
Briefing Paper, Vanessa Rossi, April 2005

Implications of External Imbalances for Monetary Policy-Makers: how much should the Fed worry and what can it do?
Briefing Paper, Ellen E Meade, May 2005

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