The International Finance Forum calls for global cooperation as inflation continues

BEIJING, May 6, 2022 / PRNewswire / – The International Finance Forum (IFF) is urging countries and regions to work better together to tackle global inflation to get the world economy back on track.

At the IFF spring meetings on April 27, world leaders and industry experts highlighted the key economic challenges facing the world community and discussed possible solutions for how countries can work together to make policy changes in the context of the current pandemic.

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In a keynote speech, Domenico SiniscalcoIFF vice president and former Italian economy and finance minister said most countries have poured a lot of liquidity into their economies between 2008 and 2011 to deal with economic crises and again during the global COVID-19 pandemic, and to keep inflation high in developing countries.

Domenico Siniscalco noted that, relatively speaking, inflation in Asia is generally well managed and controlled, largely due to good governance of the economy as a whole.

While rising prices for energy, food and agricultural products can put enormous pressure on economic growth and lead to societal problems, governments will need to take steps to tackle and control inflation, he added.

More precisely, Domenico Siniscalco said that China, cEurope and the United States must work together to address rising food and energy prices.

In terms of supply chain and industry chain, Song MinMember of the Academic Committee of the IFF and Dean of the School of Economics and Management, University Wuhansaid at IFF meetings that if Western countries enter the post-pandemic phase, the pressure on the industrial chain and supply chain can be eased in the short term. Song Min noted that as geopolitical shocks continue, uncertainty remains as to how this will affect the global industrial and supply chain.

Robin SinMorgan Stanley, China ‘s chief economist, looks positively at Asia’ s economic prospects amid global inflation and remains confident that China is taking steps to offset the slowdown in economic growth. Despite constant headwinds, including factors such as geopolitical shocks, inflation and rising Fed rates, Asian economies are coping better with these headwinds than in previous cycles in recent decades.

Robin Sin said Morgan Stanley remains optimistic about China’s ability to make timely policy adjustments to speed up economic recovery in the second half of this year and next.

About the International Financial Forum

IFF is an independent non-governmental non-profit international organization founded in Beijing in 2003. Created by financial leaders from more than 20 countries, regions and international organizations, including China, the United States, the EU and the UN Forum. an ancient high-level platform for dialogue and communication. For more information, visit: