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Economics & Finance

The Obama effect

The latest US election, and Barack Obama’s campaign in particular, was unprecedented in more ways than one, having set new standards for future elections. “This campaign will change all campaigns going forward,” says Steve Okun, who worked on transportation issues in the Clinton administration and is currently chairman of the American Chamber of Commerce in Singapore.

Economics & Finance

Anatomy of a crisis

Changes in financial regulation in the past decade, coupled with the loose monetary policy of former Federal Reserve Chairman Alan Greenspan, are partly to be blamed for the financial crisis that has brought the world into the brink of recession, according to INSEAD Affiliate Professor of Accounting and Dean of the MBA programme, Jake Cohen.

Economics & Finance

Obama could help US economy recover by mid-2009

The victory of Barack Obama, the first African-American to become president of the United States, could help the troubled US economy recover by the middle of next year, says Ilian Mihov, professor of economics at INSEAD.

Economics & Finance

Tackling the financial crisis by changing tack

China, one of Asia’s economic powerhouses, is not immune to the global financial crisis despite enjoying double-digit growth in the last five years and being poised to achieve nine per cent growth this year. Share prices in Shanghai have fallen 72 per cent and house prices have come down 55 per cent. Demand has plummeted and thousands of factories have closed because of cancelled or delayed export orders.

Economics & Finance

Asia feels the pain caused by the crisis but could be poised for rapid recovery

Asia can’t escape the financial and economic crisis that is battering the rest of the world, but the region may be poised for a more rapid recovery if leaders in business and government work together and show leadership.

Economics & Finance

Blueprint for a new international financial order

Politicians have acted decisively to restore confidence and liquidity in the banking sector through the injection of capital and guarantees on interbank loans. The UK, continental Jean Dermine - INSEAD KnowledgeEU countries, the US and Switzerland, have injected new capital into their home banks, increasing capital ratios. Political leaders are now calling an international conference for a new international financial order to discuss the creation of a supranational supervisory body, Bretton Woods II.

Economics & Finance

Political change in China is ‘almost inevitable’ but Beijing has ‘nothing to fear’: Anson Chan

Asian pro-democracy advocate Anson Chan says China has ‘nothing to fear’ in allowing Hong Kong full democracy.

Economics & Finance

Australian banks well positioned to weather the financial crisis

In comparison to the battered banks elsewhere, Australia’s ‘big four’ banks have been “holding up very well” relative to their counterparts in the US and Europe, which have either filed for bankruptcy or have sought government bailouts, says John Schubert, chairman of the Commonwealth Bank of Australia, the country’s biggest lender by market capitalisation.

Economics & Finance

Leveraging the India connection

The UK beer market is one of the most competitive in the world but that did not deter Karan Bilimoria, an expat Indian with no prior experience, from taking it on.

Economics & Finance

Is India a safe haven?

A ‘helicopter view’ from INSEAD alumna Helen Alexander (‘84), Vice President, Confederation of British Industry (CBI).

Economics & Finance

Banks in Asia may weather global financial crisis

Banks operating in Asia should come out of the global financial crisis relatively unscathed compared to their counterparts in the US and Europe, given their more conservative lending activities and stronger balance sheets, bankers and financial experts said at a recent Bloomberg Leadership Forum held in Singapore.

Economics & Finance

Can China help power the global economy out of a crisis?

After five years of double-digit expansion, the world’s fastest-growing economy has succumbed to the economic chill wind sweeping across the globe. China’s economy slowed to an annual growth clip of 9 per cent in the third quarter from 10.1 per cent in the previous quarter ­– well below the consensus forecast of 9.7 per cent.

Economics & Finance

Living with uncertainty

The authorities in the US and Europe have the right policies in place to tackle the financial crisis, but it will take time to restore confidence in the markets, according to speakers at the World Knowledge Forum.
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Economics & Finance

Steering a new course in unchartered waters

With credit getting tighter, companies are going to have to change the way they do business and manage their cash. Laurence Danon, executive board member of Edmond de Rothschild Corporate Finance in France, says we are likely to see companies implementing huge cost-savings plans, probably with significant layoffs and dramatic changes to capital expenditure and development programmes.

Economics & Finance

Rethinking global financial systems

The consensus is loud and clear: in the wake of the worst global financial crisis since the Great Depression, a fundamental rethink of the structure of the global financial markets and greater cooperation of the major regulatory bodies are paramount, said the heads of major financial institutions at the World Knowledge Forum in Seoul.