Sir Paul Tucker, former Bank of England Deputy Governor and Harvard University Research Fellow discusses his latest book – Global Discord: Values and Power in a Fractured World Order
https://press.princeton.edu/books/hardcover/9780691229317/global-discord
https://www.amazon.com/Global-Discord-Values-Power-Fractured/dp/0691229317
Selected for Top 10 Economics Books of 2022 by Financial Times.
Preview: (0:05) Introduction (3:00) What is Global Discord about (3:45) US Dollar as the global reserve currency (4:20) How the US Dollar became the reserve currency of the world (4:59) The collapse of Bretton Wood & Oil (5:49) Does China's Renminbi pose a threat to the US Dollar? (7:36) What is the IMF? (10:29) Does the IMF overreach beyond its core mandate? (13:06) Should the IMF focus on its core mandate to stay relevant? (16:59) The future role of Central Banks (18:53) 4 scenarios for geopolitics in the future (20:00) What is the WTO? (23:39) Did the West make mistakes when China joined the WTO in 2000? (24:03) What are Central Bank Swap Lines? (26:58) Who are the counterparties in a swap line agreement? (27:55) How do swap lines affect the global reserve currency? (28:47) Does every Central Bank get a swap line? (30:22) Digital money & Central Bank Digital Currencies (CBDCs) (32:55) Can the Federal Reserve legally issue a Central Bank Digital Currency (CBDC)? (37:57) Sanctions and Geo-Economics (39:40) Cyber attacks on economic and financial systems? (42:05) US-China power struggles (44:00) David Humes and other influential philosophers in Global Discord (48:20)