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Questions About the Future of the International Economy

1 Pages Posted: 12 Aug 2011  

Stanley Fischer

Bank of Israel; National Bureau of Economic Research (NBER); International Monetary Fund (IMF)

Date Written: 2010

Abstract

The problems that stand out are (1) Assuming the center of gravity of the global economic system is moving towards Asia and the emerging market countries more generally, what are the implications for the management of the international economy, and for the future behavior of the international economy? (2) What can/should be done to try to channel this process in a constructive direction? (3) What are the political implications of this shift? (4) What are the factors that could derail this process and what would be the political and economic implications of such a derailing? (5) The futures of China and India are critical to this process. In addition, (6) the information explosion/Google/Facebook/government censorship of their activities in many countries, is a critical and little-studied issue. (7) Demography and demographic trends. It's hard to believe that Russia, Japan, China, Europe are simply going to stand by while their countries and economies become smaller and relatively less significant, as a result of demographic trends. (8) The energy issue, including the potential role of nuclear power and all its geopolitical ramifications, is not going away.

Suggested Citation

Fischer, Stanley, Questions About the Future of the International Economy (2010). American Economic Association, Ten Years and Beyond: Economists Answer NSF's Call for Long-Term Research Agendas. Available at SSRN: https://ssrn.com/abstract=1889143 or http://dx.doi.org/10.2139/ssrn.1889143

Stanley Fischer (Contact Author)

Bank of Israel ( email )

P.O. Box 780
Jerusalem, 91907
Israel

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

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