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Kevin Gallagher<\/a>,\u00a0Interim Dean of Boston University’s Frederick S. Pardee School of Global Studies, Professor of Global Development Policy, and Director of the\u00a0<\/span>Global Development Policy Center<\/a>\u00a0(GDP Center), and Perry Mehrling<\/a>, Pardee School Professor of International Political Economy, both spoke at the United Nations Conference on Trade and Development (UNCTD) Young Scholars Initiative (YSI) Summer School.<\/span><\/p>\n The UNCTAD YSI Summer School provided an opportunity to explore the challenges and opportunities of a new international economic order. It brought together UNCTAD experts, academics, diplomats, and young scholars from across the globe for lively and stimulating intellectual debates.<\/p>\n Mehrling’s August 1 keynote presentation, titled “A Money View of the Emergent New International Economic Order,” was intended to provoke some rethinking of the Global South’s political and economic agenda. In his remarks, he addressed questions surrounding the fundamentally hierarchical nature of the global dollar system and what can be done to change it. According to Mehrling, the central challenge for countries of the Global South is to manage their interface with this emergent international order, finding ways to tap global capital markets for long-term development needs and global money markets for the short-term balance of payment needs, even as they develop their own last resort backstops in the face of external shocks. He argues that this challenge requires the development of their own internal monetary and financial institutions, moving up the hierarchy of public-private hybridity.<\/p>\n Mehring’s full presentation can be viewed below.<\/p>\n