Confronting Geoeconomic Challenges: A Conversation with World Bank Group President David Malpass

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Confronting Geoeconomic Challenges: A Conversation with World Bank Group President David Malpass

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As the U.S. continues to experience historically high inflation rates and increasing risks to its economy, it also faces a number of global geoeconomic challenges. These include the end of the era of globalization, rising financial instability and pressures to increase the production of certain strategically important goods for domestic use or export to friendly neighbors. Meanwhile, the U.S. and other countries are also contending with the economic implications of social, political and technological developments, such as population aging, greater competition from abroad, growing inequality, innovation and its impact on the labor market, and the global transition to cleaner energy sources.

On May 22 at Baker Hall, World Bank Group President David Malpass joined John W. Diamond, Director of the Center for Public Finance at the Baker Institute, to discuss the geoeconomic challenges — and opportunities — facing the United States and the world, and how to navigate them.

This event was sponsored by the Baker Institute Center for Public Finance. 

00:00 Welcome

01:00 Remarks by David R. Malpass, President, World Bank Group

13:04 Conversation between David Malpass (WBG) and John Diamond (Baker Institute)

47:45 Live Q&A

1:01:47 Closure

"We should be very aware of the severity of the crisis facing development. I've advocated a full rethinking of many core global policies, including the policies that are crowding out developing countries and their private sectors."

— David R. Malpass, President, World Bank Group

"The dollar value of subsidies in various parts of the world has become gigantic. Governments are competing with each other to see who can give more subsidies. That, we know from economics, causes slow growth."

— David R. Malpass, President, World Bank Group

"The question of whether the tumult is worse than in the 1980s ... will take years to assess. All we can say with confidence is that today's problems are urgent and the outcome depends on actions and individual initiative by leaders like Sec. Baker."

— David R. Malpass, President, World Bank Group

"The World Bank is working on a carbon credit market and on standards for various products. We've invited global comment on the World Bank's Paris Alignment concepts, and through that process, that can help standardize the effort."

— David R. Malpass, President, World Bank Group

Speakers