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State of trade

· Andrew Bailey, Governor of the Bank of England (United Kingdom)

Summary written by Dark Majestic in its own words · topics: trade, fragmentation and geopolitics, growth, investment and productivity

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· Andrew Bailey Wiki · Bank of England WikiState of trade

ContextAfter-dinner speech at the Irish Association of Investment Managers in Dublin; the Bank of England protects monetary and financial stability and watches the effects of new trade barriers.

Why it mattersBailey describes tariffs as a failure of the multilateral system and links UK pension reform to investment.

Problems raised
  1. Tariffs signal a failure of the multilateral system.
  2. Trade tensions hurt growth.
  3. Savings are not directed to productive investment.
Solutions proposed
  1. Fix the multilateral system.
  2. Advance the EU Savings and Investment Union.
  3. Reform UK pensions to fund investment.
Read full speech on bis.org ↗

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