Chicago Booth is delighted to host the former Central Bank Governor of Tunisia, Chedly Ayari for an evening discussion on A New World Order: Monetary Policy in the 21st Century.
The rise of China, and to a lesser extent India, have diminished the dominance of the old high-income countries that led the global economy in the second half of the 20th century. The global financial crisis has shaken confidence in global capitalism. Today, the world's fastest-growing economies are gasping for breath and, in one case, seeking help from the International Monetary Fund. Argentina's $50bn bailout is the most extreme event so far, but it sits alongside the dramatic collapse of the Turkish lira, a recession in South Africa and dire economic predictions in countries such as the Philippines, Indonesia and Mexico. More pain seems to be ahead for emerging markets as the combination of global trade tensions, prospects of higher U.S. interest rates and overall market uncertainty haunt investor attraction.
In such a world, who might provide the leadership needed to tackle the global challenges of economic growth, peace and sustainable prosperity? Are we witnessing an emerging-markets meltdown akin to the Asian crisis of 1997? How do emerging markets balance the needs of their delicate economies against a fast-paced, unpredictable new world order?
As the lead of the Central Bank of Tunisia, Governor Ayari designed and implemented a Tunisian monetary policy tailored to the needs and constraints of a frontier emerging economy in transition, and facing a severe political economic and social crisis following difficult years since the Arab Spring.
Moderated by Dan Smaller, '82, please join us for this fireside chat to learn about signs of Tunisia's economic recovery and how emerging markets can survive amid this new world order.
7:00pm Fireside chat
8:00pm Networking reception