Gallagher Publishes Op-Ed on Global Financial Safety Net
Kevin Gallagher, Professor of Global Development Policy and Director of the Global Development Policy Center at the Frederick S. Pardee School of Global Studies at Boston University, published an op-ed in China Daily discussing how the G20 can secure global financial stability by bolstering the global financial safety net.
In the article, titled “World needs stronger financial safety net,” Gallagher and co-author Gao Haihong – senior fellow at the Institute for World Economics and Politics, Chinese Academy of Social Sciences – explain that an expansion of the global financial safety net is required to mitigate the financial hardships caused by COVID-19 and facilitate the recovery from this crisis. In anticipation of the virtual G20 Summit taking place November 21-22, 2020, the two call on the G20 and International Monetary Fund to expand their debt relief measures and coordinate to help mount a global economic recovery.
An excerpt:
In the face of the pandemic, policy reactions may differ from country to country. However, financial instability and economic downturn will cause worldwide repercussions. The pandemic has caused widespread human and economic suffering. But it has also created an opportunity to renew and strengthen global cooperation.
The full article can be read on China Daily‘s website.
Kevin Gallagher is a professor of global development policy at Boston University’s Frederick S. Pardee School of Global Studies, where he directs the Global Development Policy Center. He is author or co-author of six books, including most recently, The China Triangle: Latin America’s China Boom and the Fate of the Washington Consensus. Read more about him here.