Past Event

Searching for Strategies to Restore Global Economic Stability and Growth

The G8 Summit that will take place in the United States May 19-20, 2012 will likely exhibit the same urgency that has attended other recent G8 and G20 meetings. Slow growth, high unemployment, foreign debt concerns, financial disarray, and mounting social unrest mean that the global economy will once again take center stage at the […]

Date: May 1 - Topic: Global Economics & Governance

The G8 Summit that will take place in the United States May 19-20, 2012 will likely exhibit the same urgency that has attended other recent G8 and G20 meetings. Slow growth, high unemployment, foreign debt concerns, financial disarray, and mounting social unrest mean that the global economy will once again take center stage at the upcoming G8 meeting. Although a global depression may have been averted, recession in Europe and a further global slowdown are likely. Recovery remains uncertain and protracted at best. The situation has left leaders groping for a “desperate optimism,” as Christine Lagarde, managing director of the International Monetary Fund, recently described it. Leaders of developed economies, struggling with their own high levels of sovereign debt, are unlikely to generate new approaches to current problems without the help of others. Emerging economies like China and Brazil – which have remained relatively immune to the ongoing crisis and may hold the key to a more stable future – are themselves put at risk by adverse conditions and are not yet in a position to drive solutions.

The 2012 G8 Summit, along with Mexico City’s G20 Summit that will follow only weeks later in June 2012, are poised to serve as a crucial juncture in the unfolding global economic crisis, one that either begins to chart a new path toward stability, or one that fails to produce the mechanisms needed to avert future turmoil.

In advance of the G8 Summit, The Chicago Council on Global Affairs, in partnership with the Federal Reserve Bank of Chicago, the Center for Macroeconomics at Northwestern University, the Initiative on Global Markets at the University of Chicago’s Booth School of Business, the Kellogg School of Management and Indian Council for Research on International Economic Relations (ICRIER), the Chinese National School of Development (CCER), the European Bruegel Institute, the Japan Economic Foundation, the Brazilian Fundação Getulio Vargas, and the Mexican Center for Research and Teaching in Economics (CIDE) will host in Chicago a two-day international conference in early May 2012 on “Searching for Strategies to Restore Global Economic Stability and Growth." The conference will bring together senior policy practitioners, business leaders, academics, and thought leaders from select G8 and G20 countries to address key challenges confronting the global political economy including: sustained financial turmoil, renewed recessionary fears, persistent macro-imbalances, continued popular protest over damaged social compacts, and rising political populism. The conference will produce a summary report that will be released around the G8 Summit to help inform conversations at the Summit and the June 2012 G20 meeting to be held in Mexico City.

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Event materials

Searching for Strategies to Restore Global Economic Stability and Growth, conference report and expert papers here

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Expect Beijing to soon start lobbying against the proposal.

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By: André Sapir Topic: Energy & Climate, Global Economics & Governance Date: July 19, 2021
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Upcoming Event

Sep
1
11:00

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Bruegel Annual Meetings, Day 1- How do we exit the COVID-19 pandemic and ensure the world of tomorrow is less vulnerable to future pandemics?

Speakers: Jeremy Farrar, Amanda Glassman, Sri Mulyani Indrawati, Tharman Shanmugaratnam and Guntram B. Wolff Topic: Global Economics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels
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Sep
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The future of EU-Africa relations

Bruegel Annual Meetings, Day 1 - A discussion of the state of play and outlook of EU-Africa relations.

Speakers: Masood Ahmed, Amadou Hott, André Sapir, Vera Songwe and Jutta Urpilainen Topic: Global Economics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels
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Sep
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Speakers: Ngozi Okonjo-Iweala and Guntram B. Wolff Topic: Global Economics & Governance Location: Palais des Academies, Rue Ducale 1
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Upcoming Event

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Navigating a more polarised world: policy implications

Bruegel Annual Meetings, Day 2 - Are we entering a new age in the relationship between international economics and global politics? Is Europe well-equipped for this new world?

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External Publication

Building the Road to Greener Pastures

How the G20 can support the recovery with sustainable local infrastructure investment.

By: Mia Hoffmann, Ben McWilliams and Niclas Poitiers Topic: Global Economics & Governance, Testimonies Date: July 15, 2021
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Opinion

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By: Alicia García-Herrero Topic: Global Economics & Governance Date: July 14, 2021
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Past Event

Past Event

Financing for Pandemic Preparedness and Response

How can we better prepare for future pandemics? In this event, co-hosted by the Center for Global Development and Bruegel think tanks, speakers will present "A Global Deal for Our Pandemic Age", a report of the G20 High Level Independent Panel on Financing the Global Commons for Pandemic Preparedness and Response.

Speakers: Masood Ahmed, Victor J. Dzau, Amanda Glassman and Lawrence H. Summers Topic: Finance & Financial Regulation, Global Economics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: July 14, 2021
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Podcast

Podcast

What should public spending look like?

What should we do about the increase in public spending due to COVID-19? Bruegel Director Guntram Wolff and Former Deputy Secretary-General of OECD Ludger Schuknecht discuss.

By: The Sound of Economics Topic: Global Economics & Governance Date: July 14, 2021
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