The Global Economy in the Wake of Financial Crisis
The aftermath of the economic crisis continues to present significant challenges throughout the world. Many countries have responded with fiscal stimuli to address widespread unemployment and dramatic reductions in consumer demand, while others have implemented serious budget cuts to address domestic economic instability. Emerging and developing markets have been particularly vulnerable throughout these turbulent economic times. What responsibility do developed nations have toward emerging and developing markets when domestic issues have become more pressing? How can global institutions and governments adapt to current market uncertainty to operate in the aftermath of the crisis? Listen in to part two of the fall 2010 Global Economy Series with former World Bank president James Wolfensohn, who will discuss the global economy in the wake of the financial crisis.
James D. Wolfensohn served as president of the World Bank from 1995-2005. Upon leaving the World Bank in May 2005, Wolfensohn served for a year as special envoy for Gaza disengagement for the Quartet on the Middle East. He is currently chairman of Wolfensohn & Company, LLC, chairman of Citigroup International Advisory Board, and adviser to Citigroup's senior management on global strategy and on international matters. Prior to joining the World Bank, Wolfensohn was president and chief executive officer of James D. Wolfensohn Inc. He previously served as executive partner and head of investment banking at Salomon Brothers in New York, executive deputy chairman and managing director of Schroeder’s Ltd. in London, president of J. Henry Schroeder’s Banking Corporation in New York, and managing director of Darling & Co. of Australia. He is chairman emeritus of Carnegie Hall and the John F. Kennedy Center for the Performing Arts. He is a fellow of both the American Academy of Arts and Sciences and the American Philosophical Society. A naturalized United States citizen, Wolfensohn served as an officer in the Royal Australian Air Force and was a member of the 1956 Australian Olympic fencing team. He holds a B.A. and LL.B. from the University of Sydney and an M.B.A. from Harvard University.
Recorded Wednesday, December 15, 2010 at The Fairmont Chicago.