Member Views

Can the West Counter the BRI?

It is no secret that the West is exceedingly uncomfortable with China’s Belt and Road Initiative (the BRI) and its role in building infrastructure in developing countries, and for good reasons. The terms of these investments by China’s parastatal banks are opaque and recent research reveals that contracts include non-disclosure covenants to keep them so. That said, it is China that is pouring the most money into infrastructure investments into Sub-Saharan Africa in particular in a way that no one else can match.

Can Turkey Rewrite the Crisis-Management Rules?

Rather than sticking with the approach taken by numerous other countries – including Argentina earlier this year – by raising interest rates and seeking some form of IMF support, Turkey has shunned both in a very public manner. Unless it changes course, the government risks much wider damage – and not just in Turkey.

Can We Expect a “New Bretton Woods”?

As the world economy and its governance structure continue to evolve at an accelerating rate, calls for reform of multilateral institutions are growing louder.

Capital Adequacy Approach to Bank Soundness is Fundamentally Flawed

"The International Monetary Fund should be at the centre of the arrangements for international financial surveillance," argues BWC member DeLisle Worrell.

"Its board is fully representative – even if in need of reform – to reflect the economic and financial weight of members, and it has a large and talented staff devoted to the analysis and surveillance of the international monetary, financial and exchange system."

Carlyle Appoints Afsaneh M. Beschloss as an Independent Director

Congratulations to BWC member Afsaneh Beschloss for her recent appointment to serve as an independent director on The Carlyle Group's Board of Directors. With a background in sustainable and inclusive investing and roles such as the World Bank's Treasurer, Afsaneh brings a wealth of experience to Carlyle, offering a perspective that can support the firm’s objectives for steady and inclusive growth.

Caroline Atkinson

This week we also welcome new member Caroline Atkinson, senior global strategist at RockCreek.

She was previously head of policy at Google and deputy national security advisor for international economics on the National Security Council at the White House.

We appreciate her support and look forward to her engagement!

Caxton Associates

This Member Monday we welcome new organizational member, Caxton Associates.

Caxton is a global macro hedge fund that utilizes a blend of rigorous market analysis, macroeconomics, politics plus policy, and company assessments to craft portfolios achieving a balance between exceptional returns and resilience.

We appreciate their commitment and support, and we look forward to their engagement with The Bretton Woods Committee. 

CBDC-50 Years After the End of Bretton Woods

50 years ago, the Bretton Woods system of fixed exchange rates came to a sudden stop. It seemed the end of an era of multilateral and rules-based monetary cooperation considered critical to facilitate international payments.

CBDCs will further fragment the global economy—and could threaten the dollar

The Bretton Woods Committee is pleased to Member Spotlight Hung Tran and his recent article titled "CBDCs will further fragment the global economy—and could threaten the dollar" 

Central Bank Digital Currencies: Reordering International Monetary Relations

Financial technology seems set to have a major impact on monetary relations.