Podcasts about Asian Development Bank

Health systems across Asia and the Pacific are under pressure. Populations are aging, and there are increasing risks from climate change and future pandemics. Governments are facing tighter budgets. In these conditions, can universal health coverage still be attainable? Osamu Kunii, CEO and Executive Director of the Global Health Innovation Technology Fund, and Eduardo Banzon, Director of the Asian Development Bank's Health Sector Team discuss the key issues facing health financing. Script: https://adbi.me/3TNnyN7

Son yıllarda Asya'nın parlayan yıldızı haline gelen Vietnam, ekonomik kalkınma modeliyle dikkatleri üzerine çekiyor. Peki, bu başarı tesadüf mü? Vietnam'ın büyüme sürecini, sanayileşme politikalarını, dış yatırımları ve genç nüfus avantajını detaylı şekilde ele aldığımız bu videoda, Vietnam ekonomisinin perde arkasını Ömer Özgen'in anlatımıyla birlikte inceliyoruz.

Bambang Susantono has had three careers that would each be a full life's work — Vice Minister of Transportation for Indonesia, Vice President of the Asian Development Bank, and then the founding head of Nusantara, Indonesia's new capital city. In this conversation he explains why Nusantara studied three other purpose-built capitals — Astana, Brasília, and Canberra — to learn what not to do. His verdict on Myanmar's Naypyidaw, a city with five-star hotels and 20-lane roads: "the community doesn't have the soul." We also get into facial recognition and surveillance technology in modern cities, why AI should remain a tool rather than a replacement for human creativity, and a near-death experience surviving a cyclone in Samoa that reshaped how Bambang thinks about climate resilience. "Building forward better" — not "build back better." That's Bambang's principle, and it's the thread running through everything he's built. Connect with Sohail Hasnie: Facebook @sohailhasnie X (Twitter) @shasnie LinkedIn @shasnie ADB Blog Sohail Hasnie YouTube @energypreneurs

Indonesia is often framed as a key arena of China-Japan-US competition in the Second Cold War. In this episode, we talk with Trissia Wijaya about her book on the political economy of Chinese and Japanese infrastructure financing in Indonesia. She challenges the view that it is simply an instrument of competition and instead situates infrastructure finance within Indonesia's own development strategies. She shows how development assistance, commercial loans, export credits, and public-private partnerships are shaped by contestation among Chinese and Japanese capital, as well as Indonesian civil society, state actors, and labor. We also link these dynamics to the country's changing industrial policy, from energy infrastructure to Nickel processing to the planned capital of Nusantara, asking how Indonesia uses strategies of polyalignment and foreign finance to pursue its own developmental ambitions. — Trissia Wijaya is a McKenzie Research Fellow at the Asia Institute at the University of Melbourne. Prior to this role, she worked as a Senior Research Fellow at Asia-Japan Research Organization, Ritsumeikan University, and taught at the College of Global Liberal Arts. She received her PhD in Politics from Murdoch University, Australia, and remains affiliated as an Honorary Research Fellow at the Indo-Pacific Research Centre there. She has also worked at the Asian Development Bank and UNDP Indonesia, cultivating an interest in the political economy of development and evidence-informed policymaking. Her research spans green infrastructure financing, industrial policy, and critical mineral development. She has conducted intensive fieldwork across Indonesia, Japan, and China. The Political Economy of Japanese and Chinese Infrastructure Financing Governance: Organizing Alliances, Institutions, and Ideology (Bristol University Press 2025) Indonesia, nickel, and the political economy of polyalignment in the Second Cold War in Third World Quarterly An EV-fix for Indonesia: the green development-resource nationalist nexus in Environmental Policy Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

Indonesia is often framed as a key arena of China-Japan-US competition in the Second Cold War. In this episode, we talk with Trissia Wijaya about her book on the political economy of Chinese and Japanese infrastructure financing in Indonesia. She challenges the view that it is simply an instrument of competition and instead situates infrastructure finance within Indonesia's own development strategies. She shows how development assistance, commercial loans, export credits, and public-private partnerships are shaped by contestation among Chinese and Japanese capital, as well as Indonesian civil society, state actors, and labor. We also link these dynamics to the country's changing industrial policy, from energy infrastructure to Nickel processing to the planned capital of Nusantara, asking how Indonesia uses strategies of polyalignment and foreign finance to pursue its own developmental ambitions. — Trissia Wijaya is a McKenzie Research Fellow at the Asia Institute at the University of Melbourne. Prior to this role, she worked as a Senior Research Fellow at Asia-Japan Research Organization, Ritsumeikan University, and taught at the College of Global Liberal Arts. She received her PhD in Politics from Murdoch University, Australia, and remains affiliated as an Honorary Research Fellow at the Indo-Pacific Research Centre there. She has also worked at the Asian Development Bank and UNDP Indonesia, cultivating an interest in the political economy of development and evidence-informed policymaking. Her research spans green infrastructure financing, industrial policy, and critical mineral development. She has conducted intensive fieldwork across Indonesia, Japan, and China. The Political Economy of Japanese and Chinese Infrastructure Financing Governance: Organizing Alliances, Institutions, and Ideology (Bristol University Press 2025) Indonesia, nickel, and the political economy of polyalignment in the Second Cold War in Third World Quarterly An EV-fix for Indonesia: the green development-resource nationalist nexus in Environmental Policy Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/east-asian-studies

Indonesia is often framed as a key arena of China-Japan-US competition in the Second Cold War. In this episode, we talk with Trissia Wijaya about her book on the political economy of Chinese and Japanese infrastructure financing in Indonesia. She challenges the view that it is simply an instrument of competition and instead situates infrastructure finance within Indonesia's own development strategies. She shows how development assistance, commercial loans, export credits, and public-private partnerships are shaped by contestation among Chinese and Japanese capital, as well as Indonesian civil society, state actors, and labor. We also link these dynamics to the country's changing industrial policy, from energy infrastructure to Nickel processing to the planned capital of Nusantara, asking how Indonesia uses strategies of polyalignment and foreign finance to pursue its own developmental ambitions. — Trissia Wijaya is a McKenzie Research Fellow at the Asia Institute at the University of Melbourne. Prior to this role, she worked as a Senior Research Fellow at Asia-Japan Research Organization, Ritsumeikan University, and taught at the College of Global Liberal Arts. She received her PhD in Politics from Murdoch University, Australia, and remains affiliated as an Honorary Research Fellow at the Indo-Pacific Research Centre there. She has also worked at the Asian Development Bank and UNDP Indonesia, cultivating an interest in the political economy of development and evidence-informed policymaking. Her research spans green infrastructure financing, industrial policy, and critical mineral development. She has conducted intensive fieldwork across Indonesia, Japan, and China. The Political Economy of Japanese and Chinese Infrastructure Financing Governance: Organizing Alliances, Institutions, and Ideology (Bristol University Press 2025) Indonesia, nickel, and the political economy of polyalignment in the Second Cold War in Third World Quarterly An EV-fix for Indonesia: the green development-resource nationalist nexus in Environmental Policy Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/southeast-asian-studies

Indonesia is often framed as a key arena of China-Japan-US competition in the Second Cold War. In this episode, we talk with Trissia Wijaya about her book on the political economy of Chinese and Japanese infrastructure financing in Indonesia. She challenges the view that it is simply an instrument of competition and instead situates infrastructure finance within Indonesia's own development strategies. She shows how development assistance, commercial loans, export credits, and public-private partnerships are shaped by contestation among Chinese and Japanese capital, as well as Indonesian civil society, state actors, and labor. We also link these dynamics to the country's changing industrial policy, from energy infrastructure to Nickel processing to the planned capital of Nusantara, asking how Indonesia uses strategies of polyalignment and foreign finance to pursue its own developmental ambitions. — Trissia Wijaya is a McKenzie Research Fellow at the Asia Institute at the University of Melbourne. Prior to this role, she worked as a Senior Research Fellow at Asia-Japan Research Organization, Ritsumeikan University, and taught at the College of Global Liberal Arts. She received her PhD in Politics from Murdoch University, Australia, and remains affiliated as an Honorary Research Fellow at the Indo-Pacific Research Centre there. She has also worked at the Asian Development Bank and UNDP Indonesia, cultivating an interest in the political economy of development and evidence-informed policymaking. Her research spans green infrastructure financing, industrial policy, and critical mineral development. She has conducted intensive fieldwork across Indonesia, Japan, and China. The Political Economy of Japanese and Chinese Infrastructure Financing Governance: Organizing Alliances, Institutions, and Ideology (Bristol University Press 2025) Indonesia, nickel, and the political economy of polyalignment in the Second Cold War in Third World Quarterly An EV-fix for Indonesia: the green development-resource nationalist nexus in Environmental Policy Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

Indonesia is often framed as a key arena of China-Japan-US competition in the Second Cold War. In this episode, we talk with Trissia Wijaya about her book on the political economy of Chinese and Japanese infrastructure financing in Indonesia. She challenges the view that it is simply an instrument of competition and instead situates infrastructure finance within Indonesia's own development strategies. She shows how development assistance, commercial loans, export credits, and public-private partnerships are shaped by contestation among Chinese and Japanese capital, as well as Indonesian civil society, state actors, and labor. We also link these dynamics to the country's changing industrial policy, from energy infrastructure to Nickel processing to the planned capital of Nusantara, asking how Indonesia uses strategies of polyalignment and foreign finance to pursue its own developmental ambitions. — Trissia Wijaya is a McKenzie Research Fellow at the Asia Institute at the University of Melbourne. Prior to this role, she worked as a Senior Research Fellow at Asia-Japan Research Organization, Ritsumeikan University, and taught at the College of Global Liberal Arts. She received her PhD in Politics from Murdoch University, Australia, and remains affiliated as an Honorary Research Fellow at the Indo-Pacific Research Centre there. She has also worked at the Asian Development Bank and UNDP Indonesia, cultivating an interest in the political economy of development and evidence-informed policymaking. Her research spans green infrastructure financing, industrial policy, and critical mineral development. She has conducted intensive fieldwork across Indonesia, Japan, and China. The Political Economy of Japanese and Chinese Infrastructure Financing Governance: Organizing Alliances, Institutions, and Ideology (Bristol University Press 2025) Indonesia, nickel, and the political economy of polyalignment in the Second Cold War in Third World Quarterly An EV-fix for Indonesia: the green development-resource nationalist nexus in Environmental Policy Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/world-affairs

Indonesia is often framed as a key arena of China-Japan-US competition in the Second Cold War. In this episode, we talk with Trissia Wijaya about her book on the political economy of Chinese and Japanese infrastructure financing in Indonesia. She challenges the view that it is simply an instrument of competition and instead situates infrastructure finance within Indonesia's own development strategies. She shows how development assistance, commercial loans, export credits, and public-private partnerships are shaped by contestation among Chinese and Japanese capital, as well as Indonesian civil society, state actors, and labor. We also link these dynamics to the country's changing industrial policy, from energy infrastructure to Nickel processing to the planned capital of Nusantara, asking how Indonesia uses strategies of polyalignment and foreign finance to pursue its own developmental ambitions. — Trissia Wijaya is a McKenzie Research Fellow at the Asia Institute at the University of Melbourne. Prior to this role, she worked as a Senior Research Fellow at Asia-Japan Research Organization, Ritsumeikan University, and taught at the College of Global Liberal Arts. She received her PhD in Politics from Murdoch University, Australia, and remains affiliated as an Honorary Research Fellow at the Indo-Pacific Research Centre there. She has also worked at the Asian Development Bank and UNDP Indonesia, cultivating an interest in the political economy of development and evidence-informed policymaking. Her research spans green infrastructure financing, industrial policy, and critical mineral development. She has conducted intensive fieldwork across Indonesia, Japan, and China. The Political Economy of Japanese and Chinese Infrastructure Financing Governance: Organizing Alliances, Institutions, and Ideology (Bristol University Press 2025) Indonesia, nickel, and the political economy of polyalignment in the Second Cold War in Third World Quarterly An EV-fix for Indonesia: the green development-resource nationalist nexus in Environmental Policy Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

Why is the energy transition inevitable? Not just desirable, but inevitable. In this first module of the Energypreneurs Masterclass, I curated five conversations from 300+ episodes to answer that question. You'll hear from a trucking entrepreneur, a clean energy analyst, a physicist, and an InsurTech founder, each telling the same story from a completely different angle. This masterclass is free for 3 months. 8 modules total. Hosted by Sohail Hasnie, 40 years in the power sector, former Asian Development Bank energy specialist. Connect with Sohail Hasnie: Facebook @sohailhasnie X (Twitter) @shasnie LinkedIn @shasnie ADB Blog Sohail Hasnie YouTube @energypreneurs

In this episode, Asian Development Bank (ADB) President Masato Kanda discusses the economic impact of the Middle East conflict on Asia and the Pacific, ADB's response, and the need for countries to strengthen resilience against future shocks.   Host: Brad W. Setser, Whitney Shepardson Senior Fellow, Council on Foreign Relations   Guests: Masato Kanda, President, Asian Development Bank   Want more comprehensive analysis of global news and events sent straight to your inbox? Subscribe to CFR's Daily News Brief newsletter. To keep tabs on all CFR events, visit cfr.org/event. To watch this event, please visit it on our YouTube channel: A Conversation With President Masato Kanda of the Asian Development Bank

In 2003, Premier Wen Jiabao warned that China's growth model was unbalanced between supply and demand, over-reliant on investment and exports. More than 20 years later, the imbalance is smaller — but China is vastly larger. What its economy produces and exports now moves global markets. The argument about China's external surplus is no longer just a spat between Beijing and Washington.Yiping Huang, Dean of the National School of Development at Peking University, has written a chapter in the fourth Paris Report, published jointly by CEPR and Bruegel, examining China's structural imbalances from the inside. His argument: the same policies that powered 45 years of growth also suppressed household income and consumption. Factor market distortions, especially artificially low interest rates, kept the cost of capital down and subsidised state-owned enterprises; decentralised GDP-target competition pushed local governments toward investment and industrial expansion rather than services and household support.The result was a powerful supply side with a persistently weak domestic demand side. When you produce more than you can sell at home and you are a small economy, you export the rest. When you are the world's second largest economy, the world notices. China's consumption share of GDP rose from around 50% in 2010 to 57% in 2024, still well below the mid-seventies average of comparable economies, and two fresh crises complicate the path. The property market has been contracting since mid-2021 and it is now a drag on local government finances, household wealth, and bank balance sheets. Local government subsidies have created overcapacity in new industries such as electric vehicles and batteries. Huang's conclusion is that rebalancing is necessary and achievable, but it requires the government stepping back from direct resource allocation, the private sector and market taking on larger roles in innovation, and a significant strengthening of social protection to give households both the income and the confidence to spend.The report discussed in this series of episodes:Rey, Hélène, Beatrice Weder di Mauro, and Jeromin Zettelmeyer (eds). 2026. The New Global Imbalances. Paris Report 4. CEPR Press and Bruegel. Free to download at cepr.org.The chapter discussed in this episode:Huang, Yiping. 2026. "Rebalancing of the Chinese economy: Challenges and policy options." In Rey, Weder di Mauro, and Zettelmeyer (eds), The New Global Imbalances. Paris Report 4. CEPR Press and Bruegel. To cite this episode:Phillips, Tim, and Yiping Huang. 2026. “Rebalancing the Chinese Economy”. VoxTalks Economics (podcast).Assign this as extra listening. The citation above is formatted and ready for a reading list or VLE.About Paris Report 4The fourth Paris Report, The New Global Imbalances, is a joint publication of CEPR and Bruegel. It was edited by Hélène Rey (London Business School and CEPR), Beatrice Weder di Mauro (Geneva Graduate Institute and CEPR, and President of CEPR), and Jeromin Zettelmeyer (Bruegel and CEPR). The report examines how, in a high-debt and fragmented world, excess savings, rising surpluses, and rising deficits pose a risk to stability and undermine the global trading system. It is free to download at cepr.org.About the guestYiping Huang is Dean of the National School of Development at Peking University. [verify URL before publishing] He is one of China's leading macroeconomists, with research spanning China's economic transition, financial reform, and the political economy of development. He has advised Chinese policymakers and international institutions including the IMF and the Asian Development Bank on issues of growth, financial reform, and structural change.Research cited in this episodeAsymmetric liberalization is Yiping Huang's term for the approach China took when reforming its economy from the 1980s onward. Rather than the shock therapy adopted by former Soviet economies — privatising state-owned enterprises overnight and hoping markets would fill the gap — China used a dual-track approach. It opened the economy to private firms and foreign investors while maintaining state-owned enterprises in parallel, accepting some inefficiency in exchange for stability in output, employment, and growth. To subsidise the SOEs without direct fiscal transfers, the government kept factor markets, particularly financial markets, partially distorted: deposit and lending rates were held below market-clearing levels, reducing funding costs and effectively transferring income from savers and households to producers. The result was a very strong supply side and a structurally weak domestic demand side, which Huang identifies as the root cause of China's persistent external surpluses.Involution (Chinese: 内卷, nèijuǎn) is a term in wide use in China to describe a particular form of competitive overextension: effort that intensifies without producing proportional gains in quality, efficiency, or welfare. In the economic policy context Huang uses it, involution refers to the overcapacity problem in China's newer industries, including electric vehicles, batteries, and solar panels. Local governments, motivated by GDP targets and decentralised competition, have subsidised capacity expansion in these sectors without requiring corresponding advances in technology or product quality. The result is high-volume, low-margin competition that can suppress prices globally while leaving firms unable to earn sustainable returns domestically. Huang distinguishes this from the property market crisis, which has a different structure and cause.New quality productive forces is the term used in China's 15th Five-Year Plan (2026 to 2030) to describe the supply-side transformation the government is aiming for: a shift away from labour-intensive, low-value-added manufacturing toward high-technology, innovation-driven sectors. It reflects the recognition that the industries China dominated in its first decades of reform — low-cost assembly, commodity manufacturing — are no longer competitive given rising domestic wages and costs, and that the next stage of growth has to be driven by productivity and technology rather than factor accumulation.The 15th Five-Year Plan (2026 to 2030) is China's current medium-term planning document. Huang identifies two key anchors: the development of new quality productive forces on the supply side, and a shift toward domestic demand — particularly private consumption — on the demand side. The plan signals a different role for government, more focused on providing social infrastructure, basic research, and protection for households, and less focused on direct resource allocation and industrial project selection. Huang describes the two anchors as a circuit: if supply-side innovation and demand-side consumption can be connected efficiently, the Chinese economy can sustain growth for much longer without relying on external demand.The Japan comparison is used by Huang to set expectations for China's consumption rebalancing. Japan's private consumption share of GDP was at its lowest in 1970 and did not reach the average of comparable advanced economies — around the mid-seventies — until around 2010: a process of roughly forty years. China's consumption share is currently around fifty-seven percent, still well below that average. Huang acknowledges the parallel but expresses hope that China can close the gap faster than Japan did; the point of the comparison is that raising household consumption is a structural, decades-long process, not a policy lever that can be pulled in a single plan cycle. It requires sustained growth in household income and improvement in the social safety net to reduce precautionary saving.China's current account surplus peaked at 9.8% of GDP in 2007, immediately before the global financial crisis. Huang notes that significant adjustment has already taken place: the average surplus between 2018 and the mid-2020s was below two percent of GDP, and the investment share of GDP fell from a peak of forty-seven percent in 2011 to forty-one percent in 2024. The surplus rose to 3.7% of GDP in 2024 partly as a result of weak domestic demand following the property market correction. Huang's argument is that the external imbalance and the internal consumption shortfall are the same problem viewed from different angles; fixing one requires fixing the other.More VoxTalks Economics episodesThis is the third episode in our series on Paris Report 4. In the first episode, Maurice Obstfeld of the Peterson Institute for International Economics examines the history of global imbalances and what previous episodes can teach today's policymakers. In the second episode, Gilles Moëc, Chief Economist at AXA, explains why the US government is so keen to promote stablecoins and the risks they may pose to the financial system.For an interview with two of the report's editors, Beatrice Weder di Mauro and Jeromin Zettelmeyer, on the problem of global imbalances, listen to The Sound of Economics, Bruegel's podcast. Available at bruegel.org.

This episode, presented by the German Maritime Centre, examines the profound interplay between climate change and maritime security within a shifting geopolitical landscape. The conversation uncovers how environmental pressures are increasingly influencing global trade, security policies, and industrial competitiveness, drawing on Dr. Kira Vinke's extensive fieldwork and policy expertise. About the guest Dr. Kira Vinke Dr Kira Vinke is Deputy Research Director at the German Council on Foreign Relations (DGAP) and Head of the Centre for Climate and Foreign Policy. With nearly a decade's experience at the Potsdam Institute for Climate Impact Research, she has also advised Germany's International Development Agency and the Asian Development Bank. Her research includes fieldwork in South Asia, the Pacific, and the Sahel – regions especially vulnerable to climate stress. Dr Vinke serves on Germany's Federal Academy for Security Policy advisory board and contributes to various humanitarian and climate-focused organisations. Her recent work bridges rigorous science and policy at the nexus of climate and security. Key Topics The Climate-Geopolitics Intersection The episode explores how climate change and geopolitics have become inseparable, with climate impacts eroding livelihoods and destabilising regions, particularly where governance is fragile. Dr Vinke explains how climate stress can widen societal divides, emphasising the importance of addressing these linked challenges. Climate Impacts on Global Maritime Infrastructure Attention turns to the maritime sphere, investigating how rising sea levels, extreme storms, and the melting Arctic sea ice affect trade routes, fisheries, and coastal communities. Dr Vinke notes that disruptions to essential chokepoints like the Panama and Suez Canals highlight the vulnerability of global supply chains. Will the IMO’s Climate Agenda Survive? The discussion critically addresses the IMO's stalled emissions regulations, examining the geopolitical pushback led by the US and its implications for international cooperation. Dr Vinke warns that continued reliance on fossil fuels, especially amid American energy dominance, may jeopardise both economic stability and climate targets, while China's surge in renewables shapes future competitiveness. Strategic Advice for Business Leaders Dr Vinke offers actionable advice to business leaders, urging them to consult regional climate projections and adopt scenario planning in order to bolster resilience amid ongoing uncertainty. She advocates staying committed to climate targets, warning that abandoning them provides only short-term relief at the cost of long-term competitiveness and societal risk. A Bold Prediction Looking ahead, Dr Vinke presents two scenarios for the next decade: one in which the world pivots towards climate neutrality, protecting vital systems despite inevitable losses, and an alternative future marked by irreversible environmental damage and societal upheaval. She maintains an optimistic outlook, believing that collective capacity and foresight can deliver positive outcomes if action is taken. Conclusion Ultimately, this episode demonstrates that business leaders cannot afford to ignore the entwined risks of climate change and geopolitics; the choices made now will define resilience, competitiveness, and global stability in years to come. Executive Briefing – what you should read now Memo Series: Global Reordering 2026 – A set of concise briefings from the DGAP addressing shifts across trade, strategic competition in science, and other sectors, capturing diverse expertise and timely insights.Disruption of Arctic Exceptionalism – A DGAP analysis of the pressures facing the Arctic, from geopolitical contestation to environmental change and resource exploration. Despite being published two years ago, its relevance endures as global stakes rise.

The Asian Development Bank's Chief Economist Albert Park tells us that the conflict in the Middle East could prove 'traumatic', knocking as much as 1.3% of Asian GDP growth, depending on how long it goes on for. He believes that the countries most vulnerable include Sri Lanka, Maldives, Laos, Bangladesh and Pakistan. Meanwhile the price of jet fuel has more than doubled since the start of the war with Iran, with numerous major airlines raising their prices. Jetstar New Zealand cancelled some domestic services and flights between Australia and New Zealand. Vietnam Airlines also scrapped almost a two dozen domestic flights a week. And why shares in the Chinese toy-maker Pop Mart – who make Labubu Dolls – have tumbled more than twenty percent…their biggest drop in nearly a year. Presenter: Sarah Rogers Senior Producer: Craig Henderson

What does it really take to deliver a cross-border energy project? In this episode of Energypreneurs, I share the untold story behind the Asian Development Bank–financed West Kalimantan–Sarawak transmission line — a project that took seven years, dozens of stakeholders, and relentless persistence to bring to life. This is not a technical discussion. It's a human story. From early skepticism and missing documentation to pricing negotiations, stakeholder alignment, and on-the-ground challenges in Borneo, this episode reveals what actually happens behind large infrastructure projects — far beyond what you see in headlines. In the second part, I distill key lessons from the journey: Why you must start before you're ready Why people — not technology — determine success How pricing unlocks progress The importance of champions and alignment Why public sector financing is critical for cross-border projects Finally, I connect these lessons to today's energy transition — where regional grids, renewable energy, and cross-border collaboration are more important than ever. If you are working on infrastructure, energy, or large-scale projects — this episode is for you. Connect with Sohail Hasnie: Facebook @sohailhasnie X (Twitter) @shasnie LinkedIn @shasnie ADB Blog Sohail Hasnie YouTube @energypreneurs

China's consumer inflation accelerated to its fastest pace in nearly three years in December, official data showed on Friday, signaling a stabilizing economy as recent stimulus measures continued to bolster domestic demand.Going forward, analysts said consumer inflation is expected to remain mild through 2026, leaving ample room for policymakers to step up macroeconomic adjustment to counter mounting uncertainties. Policy options include targeted measures to boost domestic demand and support innovation, as well as further cuts to the reserve requirement ratio and interest rates.The country's consumer price index, the main gauge of inflation, rose by 0.8 percent year-on-year in December, following a 0.7 percent rise in November, marking the highest level since February 2023, the National Bureau of Statistics said on Friday."China's latest consumer inflation data points to a continued strengthening in domestic demand, mainly driven by the impact of consumption-boosting policies and the release of demand ahead of the New Year holiday," said Tang Guang hua, an analyst at Shen yin & Wan guo Futures Co. "Meanwhile, the core CPI remained above 1 percent for four consecutive months in December, highlighting a steady improvement in consumption fundamentals."The improving inflation data has reflected the growing momentum of the Chinese economy, with the World Bank, the International Monetary Fund and the Asian Development Bank having raised their growth forecasts for China's economy.The IMF forecasts a 5 percent GDP expansion in 2025 and 4.5 percent for 2026, while Goldman Sachs said this week that it expects China's GDP to grow 4.8 percent in real terms in 2026, supported by a policy-backed investment rebound, the potential of service consumption, resilient export growth and a milder drag of the property sector.With economic momentum showing signs of improving, Chinese stocks moved higher on Friday, with the Shanghai Composite Index posting a solid gain of 0.92 percent to close at 4,120.43 points, topping the psychologically important 4,100 points to reach a decade high. Since the beginning of the year, the index has risen by 3.82 percent, indicating a continuous improvement in investor confidence.NBS data showed the core CPI, which excludes volatile food and energy prices and is deemed a better gauge of supply-demand conditions, rose 1.2 percent year-on-year in December, unchanged from November.Meanwhile, China's producer price index — which measures factory-gate prices — fell by 1.9 percent year-on-year in December, narrowing from a 2.2 percent drop in November, the NBS said.Tang from Shenyin & Wanguo Futures Co said the narrowing decline in factory-gate prices showed strengthening recovery momentum, signaling both improving industrial fundamentals and deeper structural optimization.He expects consumer prices to rise steadily on the back of continued consumption recovery and policy support, while PPI recovery momentum is set to strengthen further given the progress in building a unified national market, industrial restructuring and rising demand from emerging industries as key drivers, particularly for high-end manufacturing.As the NBS is set to release the economic indicators for December and the fourth quarter later this month, Li Chao, chief economist at Zheshang Securities, said China's economic growth is expected to have remained resilient toward the end of 2025, fueled by relatively strong production and a gradual recovery in demand.He said that economic activity likely picked up in December, with both domestic and external demand gradually improving and companies pushing to meet year-end targets. "That will help support China to achieve its full-year growth target of around 5 percent in 2025, while laying the groundwork for a strong start in 2026."During the recently held 2026 work conference of the People's Bank of China, the country's central bank said it will continue to implement an appropriately accommodative monetary policy in 2026, underscoring its commitment to supporting high-quality economic development and promoting a reasonable rebound in prices.Li from Zheshang Securities said his team expects a 50 basis-point cut in the RRR and a 10 basis-point reduction in policy interest rates over the year.Li added that structural policy tools are expected to continue to play a key role, alongside stronger credit guidance to channel funding toward priority areas.Expanding domestic demand, advancing technological innovation and supporting micro, small and medium-sized enterprises are likely to remain the main focus of policy support in 2026, he said.

Series SixThis episode of 'The New Abnormal' podcast features Jost Wagner, Managing Director of The Change Initiative and Executive Director of the Asia-Pacific Futures Network, the largest network of futurists in the region. Over the last 20 years, he's designed and facilitated over 600 workshops and conferences worldwide for organisations such as the Asian Development Bank, United Nations, World Bank, USAID, GTZ (now GIZ), DFAT, five German political foundations, a number of international NGOs such as Oxfam, Plan, WWF, etc. In this interview, we discuss all of the above, along with his latest article for Compass magazine c/o the Association for Professional Futurists, where he writes about his belief in the urgent need for long-term thinking and action - to counter the futures-thieves that rob others (especially future generations or marginalised groups) of the opportunity to shape or benefit from desirable futures...

In this episode, our guest is Curtis S. Chin, former U.S. Ambassador to the Asian Development Bank and current Asia Fellow at the Milken Institute. With deep experience spanning diplomacy, finance, and sustainable development, Curtis shares insights on Asia's energy future, the balance of access and innovation, and why responsible development must focus on "People, Planet, and Partnership." He reflects on his days at the ADB, the need for localized energy solutions like micro-hydro and solar, and why maintenance—not just installation—is critical for long-term success. The conversation also dives into AI's growing role, the risks of misinformation, the widening digital divide, and how social and AI literacy are becoming vital skills. Curtis also touches on entrepreneurship, sharing case studies from clean tech to creative economies, while encouraging a broader, more inclusive definition of prosperity—one that includes investing in children, health, education, and community-level impact. Please join to find more. Connect with Sohail Hasnie: Facebook @sohailhasnie X (Twitter) @shasnie LinkedIn @shasnie ADB Blog Sohail Hasnie YouTube @energypreneurs Instagram @energypreneurs Tiktok @energypreneurs Spotify Video @energypreneurs

In this episode, host Michelle Pascoe sits down with global crisis and risk management expert Christine Miller. Together, they unpack how CEOs and executives can close the "leadership gap" by transforming uncertainty into strategic opportunity. Drawing on decades of global work with the World Bank, Asian Development Bank, and emergency services, Christine reveals how empowering your mid-level leaders to assess and manage risk protects your brand, culture, and bottom line. Michelle and Christine discuss: The real leadership gap — how excluding middle managers from risk decisions weakens organisations Crisis-tested lessons from Christine's global disaster work with governments and corporations Why proactive risk management fuels innovation, culture, and trust The role of AI in risk, resilience, and real-time decision-making Practical steps to embed “risk thinking” in leadership systems Resources & Links Contact Chris directly: chris@b4crisis.com.au Access Risk & Risk Management resources: RMIA.org.au  Work With Michelle Michelle Pascoe helps hospitality, tourism, and service-based leaders build resilient, empowered teams that thrive in change. Explore her Leadership Development Programs, Customer Experience Training, and Keynote Speaking at michellepascoe.com.

Martín A. Rossi is Professor of Economics and Vice Rector at San Andrés University, with a PhD from Oxford. His work has been published in in leading academic journals such as Quarterly Journal of Economics, Review of Economic Studies, American Economic Review: Insights, Economic Journal, Review of Economics and Statistics, American Economic Journal: Applied Economics, Journal of Public Economics, and Journal of Development Economics. Beyond academia, Martín served as Secretary of Deregulation in Argentina's Ministry of Deregulation and State Transformation under President Javier Milei, contributing to efforts to reduce bureaucracy and promote economic freedom. A competitive tennis player in his youth, he brings personal insights from the sport to discussions on discipline and motivation. As a father of two daughters, Martín balances his high-profile career with family life, offering grounded perspectives on raising resilient children in a challenging economic landscape. As an advisor to governments in Latin America and Africa, as well as international organizations like the World Bank, Asian Development Bank, Inter-American Development Bank, and UNICEF, Martín contributes to evidence-based policies on education, health, and youth development, emphasizing incentives, family involvement, and public interventions for positive outcomes.ParentShift course 30% OFF with the code "TRIBE". Link below: ParentShift (English): https://www.hernanchousa.com/courses/parentshift?ref=c23daa Entrena Tu Legado (Spanish): https://www.hernanchousa.com/courses/entrenatulegado?ref=c23daaTake a look at Martin's work on his website  https://sites.google.com/a/udesa.edu.ar/mrossi/home?authuser=0You can explore more of Hernan's work on his website, https://www.hernanchousa.com/Music Production by Sebastian Klauer

A clean energy future is within reach, but the road to get there is complex, especially in the world's fastest-growing region.Host Anna Stablum and Scott Morris, Asian Development Bank's Vice President for East and Southeast Asia and the Pacific, discuss one of the region's most pressing challenges and opportunities: securing affordable, reliable, and sustainable energy in Southeast Asia. From managing economic growth and energy security to rethinking coal, renewables, and regional power infrastructure, this episode offers insight into how local realities shape climate goals. Scott also shares how blended finance plays a critical role in building scalable, long-term solutions.Don't miss an episode—subscribe to ESG Decoded on your favorite podcast platform and follow us on social for the latest updates!Episode Resources: Asian Development Bank – Climate Change Overview: https://www.adb.org/what-we-do/topics/climate-change/overviewADB Energy Policy (2021): https://www.adb.org/documents/energy-policy-2021ASEAN Power Grid Initiative – ADB Feature: https://www.adb.org/news/features/asean-power-grid-clean-energyClimeCo – Carbon Management & Energy Market Services: https://www.climeco.com/solutions/energy-environmental-markets/ClimeCo Blog – What Is a Renewable Energy Certificate (REC)?: https://www.climeco.com/insights/what-is-a-renewable-energy-certificate/IEA Southeast Asia Energy Outlook: https://www.iea.org/reports/southeast-asia-energy-outlookUN SDG 7 – Affordable and Clean Energy: https://sdgs.un.org/goals/goal7-About ESG Decoded ESG Decoded is a podcast powered by ClimeCo to share updates related to business innovation and sustainability in a clear and actionable manner. Join Emma Cox, Erika Schiller, and Anna Stablum for thoughtful, nuanced conversations with industry leaders and subject matter experts that explore the complexities about the risks and opportunities connected to (E)nvironmental, (S)ocial and (G)overnance. We like to say that “ESG is everything that's not on your balance sheet.” This leaves room for misunderstanding and oversimplification – two things that we'll bust on this podcast.ESG Decoded | Resource Links Site: https://www.climeco.com/podcast-series/Apple Podcasts: https://go.climeco.com/ApplePodcastsSpotify: https://go.climeco.com/SpotifyYouTube Music: https://go.climeco.com/YouTube-MusicLinkedIn: https://www.linkedin.com/company/esg-decoded/IG: https://www.instagram.com/esgdecoded/*This episode was produced by Singing Land Studio  About ClimeCoClimeCo is an award-winning leader in decarbonization, empowering global organizations with customized sustainability pathways. Our respected scientists and industry experts collaborate with companies, governments, and capital markets to develop tailored ESG and decarbonization solutions. Recognized for creating high-quality, impactful projects, ClimeCo is committed to helping clients achieve their goals, maximize environmental assets, and enhance their brand.ClimeCo | Resource LinksSite: https://climeco.com/ LinkedIn: https://www.linkedin.com/company/climeco/IG: https://www.instagram.com/climeco/

Interview with Dr. Sophal Ear: 25:30 This week, Kelly and Tristan examine the backsliding of democracy in El Salvador and analyze the regional implications for President Bukele's political crackdown. They then explore Trump's escalating tariff war with India, which threatens to undermine the partnership between the world's two largest democracies. Next, they explore Japan's landmark $6.5 billion naval deal with Australia and what this historic sale signals for the efforts to counter China's presence in the Indo-Pacific. The episode concludes with Arizona State University Professor Dr. Sophal Ear joining Kelly to discuss the recent ceasefire agreement between Thailand and Cambodia and how the centuries-old dispute led to a five-day armed conflict. Dr. Sophal Ear is a tenured Associate Professor at Arizona State University's Thunderbird School of Global Management, where he teaches global political economy, international organizations, and regional management in Asia. His global experience includes consulting for the World Bank and Asian Development Bank, serving with the UNDP in East Timor, and holding leadership roles with Leopard Capital, the Nathan Cummings Foundation, SEARAC, and the Southeast Asia Development Program. He is the author of Viral Sovereignty and the Political Economy of Pandemics and Aid Dependence in Cambodia, and co-author of The Hungry Dragon. A graduate of Princeton and Berkeley, Dr. Ear came to the U.S. as a Cambodian refugee from France at age 10. Link to Viral Sovereignty and the Political Economy of Pandemics and Aid Dependence in Cambodia: https://www.routledge.com/Viral-Sovereignty-and-the-Political-Economy-of-Pandemics-What-Explains-How-Countries-Handle-Outbreaks/Ear/p/book/9781032133904?srsltid=AfmBOopGvH8ntwZwymgLaBYkSEo4M3bBDao9D0Z689sUYeHiutYZxC85 The opinions expressed in this conversation are strictly those of the participants and do not represent the views of Georgetown University or any government entity. Produced by Theo Malhotra and Freddie Mallinson.  Recorded on August 12, 2025. Diplomatic Immunity, a podcast from the Institute for the Study of Diplomacy at Georgetown University, brings you frank and candid conversations with experts on the issues facing diplomats and national security decision-makers around the world. Funding support from the Carnegie Corporation of New York. For more, visit our website, and follow us on Linkedin, Twitter @GUDiplomacy, and Instagram @isd.georgetown

July was a challenging month for travel and tourism in South East Asia. A military conflict between Thailand and Cambodia shook the region. New 'reciprocal' US tariff rates will challenge bottom lines and business travel budgets for the foreseeable future. Meanwhile, mixed results continue for visitor arrivals, consumer spending and travel sentiment. This month's Top 10 Travel Talking Points round-up takes Gary and Hannah from Malaysia to Thailand, Cambodia, Singapore, Vietnam, the Philippines and, inevitably given the global geo-economic situation, Washington DC. En route we discuss the potential implications of the Thailand-Cambodia War, the new US tariff rates and the Asian Development Bank's gloomy GDP forecasts for the region. Plus, we assess the latest visitor arrivals statistics - and Malaysia's controversial new accounting method - look at Singapore's tourism partnership with OpenAI, Hotel 101's lacklustre IPO in New York, and further delays for Thailand's casino resort legislation and tourism tax  And, we finish on a positive note with the newly inscribed UNESCO World Heritage Sites across South East Asia.

Yet another BRICS summit, this time in Brazil, but with the leaders of two major member-countries staying away. The group has expanded and aims to reform what it calls a western-led global order. But is it still up to that goal? And what difference has it made on the world stage? In this episode: Gustavo Ribeiro, Founder and Editor-in-chief, The Brazilian Report. Sergey Markov, Director, Institute of Political Studies in Moscow. Jayant Menon, Former Lead Economist, Asian Development Bank. Host: James Bays Connect with us:@AJEPodcasts on Twitter, Instagram, Facebook

One of Ireland's fastest-growing digital marketing agencies, Core Optimisation, has announced the acquisition of international PR agency, ClearStory. The acquisition forms part of a broader €500,000 investment in expanding its operations to North America and the United Arab Emirates. Founded in 2015 by Caroline Dunlea and David Brett, Core Optimisation has developed a significant foothold in strategic digital consultancy over the past number of years. The company began its international expansion with the UK market and is now positioning itself to expand into North America and MENA markets. Core has an extensive client book across multiple sectors including global brands such as Waterwipes, Tirlan Country Life, Kirby Group and Aryzta. The acquisition of ClearStory International will accelerate this growth by integrating ClearStory's tech, finance, defence and hospitality focused PR client base and expanding Core's capabilities as a truly integrated digital marketing and PR consultancy agency. ClearStory International was founded by James McCann in 2017 as an international PR agency specialising in reputation building for emerging and scaling brands. The agency has since expanded its client base across North America, Europe and MENA to include major players across the tech, finance and defence sectors including; Techstars, the Asian Development Bank, Dynasafe, CoinDesk, and Riskline. Core Optimisation currently provides digital marketing services including SEO, PPC, paid social, data analytics and digital strategic consultancy. With more than 70 clients spanning a wide range of industries, Core Optimisation boasts a team of 60 professionals across Ireland and the UK. The planned €500,000 investment will be used to establish a permanent presence in key emerging markets and support the integration of digital PR into its 360° marketing solutions. Speaking about the acquisition, Co-founder of Core Optimisation, Caroline Dunlea, commented: "We are delighted to acquire ClearStory International as we focus on international markets. This acquisition strengthens our global capabilities and enhances our ability to offer a fully integrated digital marketing and PR service to our growing client base. As we are in the AI era, brands need cohesive, data-led narratives across every channel and our clients are increasingly seeking partners who can anticipate and respond to their evolving needs. "By combining ClearStory's strategic communications expertise with our digital performance capabilities, we're positioning ourselves closer to our clients' strategic objectives by delivering integrated, insight-driven campaigns that drive meaningful growth and truly move the needle. This full-service offering allows us to be more responsive to the future demands of the marketplace and creates even more value through deeper client relationships." Commenting on the acquisition, CEO of ClearStory International, James McCann, said: "Over the past eight years, we've had the privilege of working with more than 200 clients across 25 countries, helping them navigate some of the world's most complex media markets. We're now excited to bring our deep expertise in international storytelling and reputation building to Core Optimisation, as we pursue a shared ambition to build a world-renowned, Irish-owned agency." See more stories here. More about Irish Tech News Irish Tech News are Ireland's No. 1 Online Tech Publication and often Ireland's No.1 Tech Podcast too. You can find hundreds of fantastic previous episodes and subscribe using whatever platform you like via our Anchor.fm page here: https://anchor.fm/irish-tech-news If you'd like to be featured in an upcoming Podcast email us at Simon@IrishTechNews.ie now to discuss. Irish Tech News have a range of services available to help promote your business. Why not drop us a line at Info@IrishTechNews.ie now to find out more about how we can help you reach our audience. You can also find and follow us on Twitter, ...

A ceasefire between the two main rivals of a global trade war. The US and China have struck a complicated deal to de-escalate a soaring tariff face off that had nations on the edge. So will the agreement reverse fears of a global recession? And can it revive world business sentiment? In this episode: William Lee, Chief Economist, Milken Institute. Huiyao Wang, Founder, Center for China and Globalization. Jayant Menon, Former Lead Economist, Asian Development Bank. Host: Elizabeth Puranam Connect with us:@AJEPodcasts on Twitter, Instagram, Facebook

アジア開発銀行の年次総会で演説する加藤勝信財務相、５日、イタリア・ミラノ【ミラノ時事】当地で開催中のアジア開発銀行の年次総会で５日、２０２７年の６０回目の総会が名古屋市で開かれることが正式に決まった。 The Asian Development Bank formally decided Monday to hold its 60th annual meeting in the central Japan city of Nagoya in 2027.

The Asian Development Bank has lowered its growth forecast for Asia further after the region found itself the hardest hit by tariffs from the US. The multilateral institution said those tariffs will shave growth in the region by a third of a percentage point in 2025 and a full percentage point in 2026. In its annual outlook report released Wednesday - numbers for which were calculated before the April 2 tariff announcements by President Donald Trump - ADB forecast growth in emerging Asia to moderate to 4.9% in 2025 and 4.7% in 2026. ADB President Masato Kanda speaks exclusively with Bloomberg's Shery Ahn in Tokyo. Plus - a late-day wave of dip buying in the US erased losses in stocks, with Wall Street investors awaiting a slew of corporate earnings and economic data for insights on the impacts of President Donald Trump's tariff war. As the S&P 500 closed higher for five consecutive sessions, the American equity benchmark posted its longest winning streak since November. Monday marked the fifth time in the past month the index fully wiped out an intraday gain or drop of 1% or more. The number of reversals already matches the total seen in the entire year of 2024. We take a look at the US economy with Clayton Triick, Head of Portfolio Management at Angel Oak Capital Advisors.See omnystudio.com/listener for privacy information.

In this episode, our guest is Woochong Um, Chief Executive Officer of the Global Energy Alliance for People and Planet (GEAPP). With a distinguished career spanning more than 30 years in international development, Woochong shares his journey from senior leadership at the Asian Development Bank to now spearheading one of the world's most ambitious efforts to end energy poverty and combat climate change. He discusses GEAPP's mission to bring clean, affordable energy to 1 billion people by 2030, reduce carbon emissions, and generate millions of green jobs across Africa, Asia, Latin America, and the Caribbean. Woochong also reflects on the role of public-private-philanthropic partnerships, flexible capital, and local innovation in scaling climate solutions—highlighting transformative projects in Rajasthan, Haiti, Indonesia, and beyond. From off-grid solar and battery storage to digital grid management and electric mobility, this conversation offers insight into what it takes to deliver a just, inclusive energy transition in emerging markets. Please join to find more. Connect with Sohail Hasnie: Facebook @sohailhasnie X (Twitter) @shasnie LinkedIn @shasnie ADB Blog Sohail Hasnie YouTube @energypreneurs Instagram @energypreneurs Tiktok @energypreneurs Spotify Video @energypreneurs

In this episode of Energypreneurs, our guest is Jaimes Kolantharaj, Principal Energy Specialist at the Asian Development Bank (ADB). Jaimes shares insights on renewable energy projects in South Asia, highlighting ADB's role in shifting investments from government funding to private sector-driven initiatives. He discusses solar and battery storage deployment in the Maldives, electric ferries for sustainable transport, and policy trends in India, Sri Lanka, Nepal, and Bhutan. The conversation also explores the impact of AI, digitalisation, and energy-efficient solutions, particularly in agriculture and electric mobility. Jaimes offers valuable advice to young entrepreneurs entering the renewable energy, emphasising the need for innovation and digital solutions in an evolving energy landscape.   Connect with Sohail Hasnie: Facebook @sohailhasnie X (Twitter) @shasnie LinkedIn @shasnie ADB Blog Sohail Hasnie YouTube @energypreneurs Instagram @energypreneurs Tiktok @energypreneurs Spotify Video @energypreneurs

With Marwa Abdou, Senior Research Director, BDL, Canadian Chamber of Commerce.After over 15 years of multidisciplinary experience abroad, taking on this unique role in June 2022 at the Canadian Chamber has been an opportune and fitting homecoming for Marwa. In her role with the BDL, Marwa leads the Research Center of Excellence and is responsible for developing and implementing an innovative long-term research agenda.Prior to her role at the Chamber, Marwa served as the Advisor to the Minister of International Cooperation of Egypt for Private Sector Engagement. She also worked directly with and within some of the world's most renowned multilateral organizations, private sector organizations, and country governments including the World Bank Group, Commonwealth Secretariat, APEC, OECD, Ernst and Young, Nathan Associates and the Asian Development Bank. In addition to leading dozens of capacity and technical assistance projects, consulting on regulatory, legal and policy reforms with these institutions, she also co-authored several publications and working papers. Marwa's journey has seen her through a number of professional pit stops spanning the Middle East, Africa and the Asia-Pacific region where she's worked on trade facilitation, gender equity, equality, social, and financial inclusion as well as the enablement, engagement and empowerment of the private sector. Still, one driver and common thread has always remained: championing, advocating and catalyzing impactful interventions for vulnerable, underrepresented and underserved groups, including businesses and SMEs, through rigorous data analysis, inventive research and storytelling. Marwa received her master's degree in international relations and international economics from the School of Advanced International Studies at Johns Hopkins University. She received her bachelor's degree in finance and economics from Queen's University Smith School of Business in Canada.Please listen, subscribe, rate, and review this podcast and share it with others. If you appreciate this content, if you want to get in on the efforts to build a gender equal Canada, please donate at ⁠canadianwomen.org⁠ and consider becoming a monthly donor. Facebook: Canadian Women's Foundation LinkedIn: The Canadian Women's Foundation Instagram: @canadianwomensfoundation TikTok: @cdnwomenfdn X: @cdnwomenfdn

In this episode, Alfredo Baño Leal, an energy expert with the Asian Development Bank (ADB), discusses Uzbekistan's evolving energy sector. The conversation highlights the country's transition from gas dependency to renewable energy, with recent policy reforms driving energy efficiency and reducing waste. With over 1-2 GW of rooftop solar already installed and a target of 40% renewable capacity by 2030, Uzbekistan is rapidly reshaping its power grid. Alfredo shares insights into the challenges of modernising the grid, the growing adoption of electric vehicles, and how distributed generation is becoming a cost-effective alternative for rural electrification. He also discusses Uzbekistan's push toward clean energy investments, including the development of local solar manufacturing and a new BYD electric vehicle assembly plant. The episode closes with a look at Uzbekistan's cultural richness, its emerging role as an energy leader in Central Asia, and why it's a fascinating place to visit. Connect with Sohail Hasnie: Facebook @sohailhasnie X (Twitter) @shasnie LinkedIn @shasnie ADB Blog Sohail Hasnie YouTube @energypreneurs Instagram @energypreneurs Tiktok @energypreneurs Spotify Video @energypreneurs

From the White House & the Department of Energy to founding SustainabiliD, Catherine McLean spoke with Kerry Duggan about how to foster public-private sector collaboration to advance sustainability goals. They spoke from the WRISE Leadership Forum in D.C. about this & the intersection of environmental justice & sustainability consulting. Kerry is a corporate Board Director at BlueGreen Water Technologies, Envergia & Perma-Fix Environmental Services, & in this episode she “shared the password” (as she says) on strategies to earn board positions, & tactfully ensure your expertise & qualifications become known. SustainabiliD has partnered with leading organizations, including think tanks, major universities, national laboratories, philanthropy, global manufacturers, global investment banks and funds, climate tech companies and business accelerators, including Elemental Impact, Emerson Collective, Our Next Energy, LuxWall, Aeroseal, ClearFlame Engine Technologies, Commonwealth Fusion Systems, Mill, Wallbox, Aclima, Walker-Miller Energy Services, Newlab, BlueConduit, Yardstick Management, Information Technology and Innovation Foundation (ITIF), Asian Development Bank, Ceres, University of Michigan School for Environment and Sustainability (SEAS), Syzygy Plasmonics, Adaptive Energy, Aspen Institute, Milken Institute, National Academies of Sciences, Engineering, and Medicine, Argonne National Laboratory, Energy Foundation, ONsemi, Whirlpool Corporation, RockCreek Global Investment, University of Michigan Erb Institute, Vesta.Thank you, Kerry, for sharing sustainability success stories from some of these companies in this episode!If you're a clean energy employer & need help scaling your workforce efficiently with top tier staff, contact Catherine McLean, CEO & Founder of Dylan Green, directly on LinkedIn: https://bit.ly/3odzxQr. If you're looking for your next role in clean energy, take a look at our industry-leading clients' latest job openings: bit.ly/dg_jobs. 

On Episode 456 of The Core Report, financial journalist Govindraj Ethiraj talks to Avinash Gorakshakar, Head of Research of Profitmart Securities. SHOW NOTES (00:00) The Take (04:50) FIIs are back, as markets gear up for Santa rally (06:46) Chief Economic Advisor makes indirect case for bitcoins and crypto day after conservative RBI governor departure (08:31) Rupee hits fresh low on reports of China loosening Yuan (10:17) Asian Development Bank lowers India growth estimates ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Listeners! We await your feedback....⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirements For more of our coverage check out ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠thecore.in⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Join and Interact anonymously on our whatsapp channel⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Subscribe to our Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Follow us on:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Twitter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Linkedin⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Youtube⁠

This week on News Flash, Denker Wulf and Energie Engineering Nord are merging, Tata Power partners with the Asian Development Bank for $4.25 billion in clean energy projects, and TPG is considering buying Siemens Gamesa India assets. Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard's StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes' YouTube channel here. Have a question we can answer on the show? Email us! Pardalote Consulting - https://www.pardaloteconsulting.comWeather Guard Lightning Tech - www.weatherguardwind.comIntelstor - https://www.intelstor.comJoin us at The Wind Energy O&M Australia Conference - https://www.windaustralia.com Welcome to Uptime News Flash. Industry news lightning fast. Your hosts, Alan Hall, Joel Saxum, and Phil Totaro discuss the latest deals, mergers, and alliances that will shape the future of wind power. News Flash is brought to you by IntelStor. For market intelligence that generates revenue, visit www.intelstor. com. Allen Hall: Well, Phil, Tata Power has signed a 4. 25 billion memorandum of understanding with the Asian Development Bank for clean energy projects. And the agreement was signed during the ongoing COP 29 conference in Baku, Azerbaijan. The key initiatives coming out Out of this include a 966 megawatt solar wind hybrid project and a pump hydro storage project. Now the partnership will support India's target of 500 gigawatt renewable energy capacity by 2030. This is really important, Phil, because Tata plays a significant role in that. A role in India's economy. Philip Totaro: And not just in renewable energy project development and asset ownership and operations. Obviously they've got automotive, they've got steel making, they do any number of things. They're a pretty diversified industrial company. And what actually a lot of people may not know is Tata Power is actually one of the top five asset owners and operators of renewable energy assets in India already. So getting an additional, MOU signed for, for 4. 25 billion is, is not going to hurt. But keep in mind, they also have broader ambitions outside of India. They, they signed an agreement with a company in Bhutan recently to do a five gigawatt renewable project there. They've had ambition in Sri Lanka and, other kind of regional markets within the Asia Pacific region there that it gives them, they've been kind of quietly going about, spreading their influence. And I, again, I think this is a fantastic move for them and, and to be able to get this Asian Development Bank agreement in place, I think is, if they get 100 percent of that, that money that they're, they're talking about in this MOU, that, that's really gonna help push Tata Power forward. Allen Hall: Well, staying in India, TPG is in advanced talks to acquire the Siemens Gamesa Indian assets. And that deal could, well, it's valued at more than 300 million currently. Now, TPG has emerged as a front runner after outbidding industry players and a number of private equity firms. And Phil, this is a valuable asset. I know a number of companies in India were really shooting for this Siemens Gamesa business. Thank you very much. But TPG has really rocketed to the top. Philip Totaro: Yeah, and it's, it's fascinating because I wouldn't actually have expected private equity to win this one. Mainly because the, what Siemens is, is really offering in terms of their asset portfolio in, in India is their manufacturing facilities. Any operations and maintenance agreements that they have and, and that entire side of the business, I would have thought that, They would have either split off that side of the business. Maybe the Chinese were going to come in and take over the factory space. So this is,

This week on News Flash, Vattenfall invests 5 billion euros in Germany through 2028, Octopus Energy has surpassed two billion dollars in offshore wind investments, and the Asian Development Bank has secured groundbreaking sovereign guarantees for climate finance. Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard's StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes' YouTube channel here. Have a question we can answer on the show? Email us! Pardalote Consulting - https://www.pardaloteconsulting.comWeather Guard Lightning Tech - www.weatherguardwind.comIntelstor - https://www.intelstor.comWind Energy O&M Australia Conference - https://www.windaustralia.com Welcome to Uptime News Flash. Industry news lightning fast. Your hosts, Allen Hall, Joel Saxum, and Phil Totaro discuss the latest deals, mergers, and alliances that will shape the future of wind power. News Flash is brought to you by IntelStor. For market intelligence that generates revenue, visit www. intelstor com. Allen Hall: First up, Swedish utility Vattenfall is investing 5 billion euros in Germany through 2028, showing major commitment after selling their Berlin heating business. The company plans to build 500 megawatts of solar parks and 300 megawatts of large batteries annually. Two major offshore wind parks, the Nordelake 1 and 2, will add 1. 6 gigawatts of wind capacity. And they're also investing 500 million euros in EV charging infrastructure. Wow, Phil, Vattenfall's going a little crazy in Germany at the moment. This is a big investment. Philip Totaro: Well, and it's coming at a kind of an interesting time because, there's been some, uh, hard to say whether it's mild or moderate disarray in the German government at this point particularly in terms of the level of support that is, is gonna be provided long term to, to renewables. But Vattenfall at least understands and appreciates the fact that, they've got a pipeline that, that's pretty big besides the Nordlicht 1 and 2 projects. I think they've got an additional 1. 5 gigawatts of onshore wind and or solar and, and battery pipeline That they have in, in Germany. So, they're, they're really swinging for the fences here and committing a rather large amount of capital at 5 billion Euro. So that's it, it's, again, it, it could be challenging short term timeframe, but long term they're positioning themselves to be, as big of a player in, in Germany as they, they are in some of the other markets outside of, of Sweden. Where they operate. Joel Saxum: I think a big part of this five billion euros as well as that Nordlicht one and two for 1. 6 gigawatts of offshore wind capacity, because that's just a lot of money to build that big of wind farms offshore. But when you look onshore in Germany, it's a bit harder to develop wind. You have permitting issues and those kind of things, but the tracks of land, it's not like we're here in the United States where we can put 100, 150 turbines out. The tracks of land are smaller, The setback limits are a lot bigger. They have different rules, right? It's a little operations and maintenance is a bit more difficult, more expensive because you have, it's like you have to test your lightning protection systems every two years. You, you have to have multiple ice detection systems. If you're within a certain setback of a road, there's, there's all kinds of little nuances in Germany there. But Vattenfall clearly sees the the advantages of doing some business there. And I know that Germany as a whole. Like you said, Phil, they're in a little bit of a turmoil right now, but they need it. So good on them. Allen Hall: In our second story, Octopus Energy has surpassed two billion dollars in offshore wind investment...

In this episode, our guest is Jamie Leather, Director of the Transport Group at the Asian Development Bank. Jamie shares insights on the progress and challenges in accelerating electric vehicle adoption across Asia. He discusses the role of strong government policies, financing, and partnerships in driving the transition from internal combustion engines to electric vehicles, with a focus on public transport and infrastructure development. He also highlights some of ADB's interesting projects and explains the sources of grants and concessional funding for which such projects can qualify. Link to ADB's Transport site.  Please join to find more. Connect with Sohail Hasnie: Facebook @sohailhasnie Twitter @shasnie LinkedIn @shasnie ADB Blog Sohail Hasnie

Last month, the Asian Development Bank has forecast that India's economic growth will remain robust with GDP expected to increase by 7% this year and 7.2% next year. The Nifty 50 Index is also at historical highs, having breached the 26,000-point level in late September. Avi Satwalekar, President of Franklin Templeton Asset Management India shares some insights.Image Credit: Shutterstock.com

In episode 3 of our new series Echoes of Impact, we meet Patricia Mulles, an independent consultant specialising in marketing, customer experience, and data governance. As Director and Global Partnerships Head for She Loves Data, a 25,000-member nonprofit, she empowers women to shape a data-driven future. Patricia's forward-thinking approach and dedication to bridging the gender gap in tech make her a key advocate for women in the digital age.Patricia's significant contributions across various industries includes pioneering information systems for the Asian Development Bank, digital transformation projects for Samsung and Pearson, and co-founding tech startups Cross Media and ThumbMOB, as well as iconic art and music bar Big Sky Mind in Manila. Patricia has recently co-launched We Love MarTech, aimed at growing martech literacy in the APAC region. Her work has earned her features in Forbes Asia and Business World, and she was recognised as one of Asia's Women Leaders at the CMO Awards in 2019. Additionally, She Loves Data, the non-profit she leads, was honoured with the "Diversity Initiative of the Year" award by WiT Asia in 2019. Tune in now with our host Payal Nayar.Episode available on all podcast streaming platforms and on YouTube.Apple Podcasts: https://buff.ly/2Vf8vv8⠀Spotify: https://buff.ly/2Vf8uHA⠀-Original music credit: Rish Sharma.His music is available on Spotify, Apple Music, YouTube and other streaming platforms.-October2019 voicesandmore Pte Ltd All rights reservedDo support the show with reviews, shares and a one time donation to help bring you a lot more important content.https://www.paypal.com/paypalme/meltingpotcollective Become a member at https://plus.acast.com/s/melting-pot. https://plus.acast.com/s/melting-pot. Hosted on Acast. See acast.com/privacy for more information.

Dr. Omkar Lal Shrestha is a professor of economics at Singapore National University. He has over 25 years of experience working with the UN and Asian Development Bank in various countries including Bangladesh, Vietnam, China, and Singapore. In this podcast, he explains how Singapore developed in such a short time.

Dr. Omkar Lal Shrestha is a professor of economics at Singapore National University. He has over 25 years of experience working with the UN and Asian Development Bank in various countries including Bangladesh, Vietnam, China, and Singapore. In this podcast, he discusses the US dollar, the International Monetary Fund, and dedollarization.

Episode Notes Last-minute travel booking sites have often done well during economic downturns. Executive Editor Dennis Schaal provides information about companies like last-minute vacation rental site Whimstay, which has announced discounted inventory deals with several major travel brands.   Whimstay recently unveiled a partnership with Expedia Group and Vrbo that will furnish the company with up to 250,000 new listings. Whimstay, which targets Millennial and Gen Z travelers, gets its inventory from property managers eager to offer rooms at discounted rates rather than see them unoccupied.  Schaal notes the partnership, to be implemented during the third quarter of this year, will enable travelers to access discounts on Whimstay, especially when they book within 30 days of the stay.     Next, tours and activity brand Viator has unveiled two new ads with the catchphrase “Regret Less. Do More” that highlight travel mishaps and how Viator could have helped avoid them, writes Travel Experiences Reporter Jesse Chase-Lubitz.  One ad features a family on an empty, rundown bus in London while the other shows two people hanging from a cliff after a mountain biking trip goes haywire. The campaign emphasizes Viator's offerings, such as guided tours and an option for free cancellations.  Viator said it wants to avoid the temptation of producing typical ads with smiling people against beautiful backdrops.  Finally, international air travel from China is making progress in its recovery from the pandemic. But getting back to 2019 levels is taking longer than anticipated, writes Reporter Christiana Sciaudone. Sciaudone notes the number of flights between China and the U.S. will be a quarter of pre-Covid levels this year due to China's weak economy and geopolitical tensions between the two countries. In addition, a study by the Asian Development Bank found that the aviation industry should prepare for a “possible permanent reduction in future growth” in air travel from China.  Get more travel news at https://skift.com Producer/Presenter: Jose Marmolejos

In this episode of Walk Talk Listen we sit down with Glenn Denning, Professor of Professional Practice and founding Director of the Master of Public Administration in Development Practice (MPA-DP) at Columbia University's School of International and Public Affairs (SIPA). Glenn shares his extensive experience in international agriculture and food security, reflecting on his significant contributions to institutions like the International Rice Research Institute, the World Agroforestry Centre, and the Earth Institute. He discusses the establishment of the Global Agriculture and Food Security Program (GAFSP) and his advisory role with the Asian Development Bank on aligning its strategy with the 2030 Agenda and the SDGs. Glenn also highlights his new book, "Universal Food Security: How to End Hunger While Protecting the Planet." The conversation delves into the importance of sustainable development and the challenges of achieving universal food security. He emphasizes the need for a holistic approach that balances agricultural productivity with environmental conservation. Maurice and Glenn explore various strategies and policies that can drive meaningful change, drawing from Glenn's extensive career and recent work. This episode provides valuable insights into the intersection of agriculture, food security, and sustainable development, making it a must-listen for anyone interested in these critical global issues.   Listener Engagement: Discover the songs picked by Glenn and other guests on our #walktalklisten here.  Connect with Glenn's SIPA: Instagram, Twitter, YouTube and Facebook Share your thoughts on this episode at innovationhub@cwsglobal.org. Your feedback is invaluable to us. Follow Us: Support the Walk Talk Listen podcast by liking and following us on Twitter and Instagram. Visit our website at 100mile.org for more episodes and information about our initiatives. Check out the special WTL series "Enough for All" featuring CWS, and as well as the work of the Joint Learning Initiative (JLI).

Looking back on the Asian Development Bank's Asia Clean Energy Forum (ACEF), WRI experts, Marlon Apanada and Jennie Chen explain the important role that WRI plays as a thought-leader, as well as convening stakeholders and implementing innovating solutions to help Asia achieve its clean energy transition goals. Apanada and Chen explore pre-conference predictions and anticipate upcoming major regional agreements that will impact the future of renewable energy on the continent, as well as how WRI's work aids Asia in meeting these goals while ensuring benefits for people, nature and climate.

As ACEF 2024 wraps up, WRI brings you a closer look at the innovative aspects of agrivoltaics that China is tapping into to reach its goal of tripling renewable energy by 2030. Looking beyond the clean energy conference, Shengnian Xu, a research associate in WRI China's Energy program, sees WRI being well-positioned to help lead the global discussions around critical minerals...a topic that dominated the discussions at the Asian Development Bank's week-long event. Check out our full coverage of ACEF at: https://www.wri.org/podcasts

Ep#089 Kshitiz Dahal is an economist at South Asia Watch on Trade, Economics and Environment with key interests in international trade, development economics, and econometrics. He has worked extensively in Nepal's international trade, trade in digital services, migration and remittances, Nepal's industrial policy, and public debt. He has contributed to the research initiatives of international organizations, including the Asian Development Bank, United Nations Economic and Social Commission for Asia and the Pacific and Organisation for Economic Co-operation and Development. Aslesh and Kshitiz discuss Nepal's public debt, exploring its origins, implications, and current scenario. Beginning with an examination of the concept of public debt and historical examples worldwide, they unravel the rising concerns surrounding Nepal's per capita debt. Through an analysis of various indicators and drivers behind the recent surge in public debt, they navigate the intricate landscape of debt financing and its repercussions on the Nepali economy and society. From understanding key lenders to dissecting the explicit and implicit costs associated with debt servicing, we shed light on the multifaceted nature of this economic phenomenon. If you liked the episode, hear more from us through our free newsletter services, PEI Substack: Of Policies and Politics, and click here to support us on Patreon!!   

The sizzle has come off of China's decades of economic growth, as the country contends with deflation, slumping consumer confidence, plummeting foreign investment, a cratered urban property sector, high local government debt, overcapacity in manufacturing, and a private sector cowed by government crackdowns, as well as a shrinking workforce and an aging population.For all that, China is still the world's second largest economy, the largest trading partner of most of the world's countries, and one of the world's biggest bilateral lenders. And China listed its economic growth rate in 2023 as a respectable 5.2 percent, causing more than one economist to raise a eyebrow.  How to make sense of all this, and get an idea of what China's options are to sustain a future path of comfortable economic growth?  Settle back, put your earbuds in, and listen as the two respected China-born economists in this episode lay out the challenges, choices, and possibilities that could shape China's future.Tao Wang, author of Making Sense of China's Economy  (2023) is chief China economist, managing director, and Head of Asia Economic Research at UBS Investment Bank in Hong Kong, and was formerly an economist at the International Monetary Fund.  Her research on China covers a wide range of topics including monetary policy, the debt problem, shadow banking, local government finance, US-China trade disputes, supply chain shifts, RMB internationalization, the property bubble, the demographic challenge, the urban-rural divide, and the long-term growth potential. Dr. Wang has been consistently ranked as one of the top China economists by institutional investors. She is an invited fellow of the China Finance (CF) 40 Forum and a member of the China Global Economic Governance 50 Forum. Yasheng Huang, author of Capitalism with Chinese Characteristics: Entrepreneurship and the State (2008, now being updated), The Rise and Fall of the East: How Exams, Autocracy, Stability and Technology Brought China Success, and Why They Might Lead to Its Decline (2023) , and nine other books in English and in Chinese, holds the Epoch Foundation Professorship of Global Economics and Management at MIT Sloan School of Management, and founded and runs MIT's China Lab, India Lab, and ASEAN Lab.  Dr. Huang is a 2023-24 visiting fellow at the Kissinger Institute at the Woodrow Wilson Center in Washington DC. The National Asia Research Program named him one of the most outstanding scholars in the United States conducting research on issues of policy importance to the United States. He has served as a consultant at World Bank, Asian Development Bank, and OECD.The China Books podcast is hosted and produced by Mary Kay Magistad, a former award-winning China correspondent for NPR and PRI/BBC's The World, now deputy director of Asia Society's Center on U.S.-China Relations. This podcast is a companion of the China Books Review, which offers incisive essays, interviews, and reviews on all things China books-related. Co-publishers are Asia Society's Center on U.S.-China Relations, headed by Orville Schell, and The Wire China, co-founded by David Barboza, a former Pulitzer Prize-winning New York Times China correspondent. The Review's editor is Alec Ash, who can be reached at editor@chinabooksreview.com.

While we usually speak with our customers or partners on the Ciena Insights Podcast, in this special episode, we speak with Yoonee Jeong, a Senior Digital Technology Specialist with the Asian Development Bank's Digital Technology for Development Division to get a different perspective on what is driving connectivity in Asia. Yoonee also shares with us what more can be done by the public and private sectors and the impact of continued innovation.

Ahmed Saeed of Allied Climate Partners and formerly the Asian Development Bank joins CGD's Karen Mathiasen and Clemence Landers for a conversation on his organization's new approach to blended finance, how to bridge the private and public sectors more effectively, and how to balance climate mitigation with traditional development goals. 

The U.S. dollar's status as the global reserve currency is diminishing, which reduces the power that U.S. leaders have over the global economic system. In this episode, hear highlights from recent Congressional testimony during which financial elites examine the current status of the global financial system and what Congress is being told to do to address perceived threats to it (and to their own power). Please Support Congressional Dish – Quick Links Contribute monthly or a lump sum via PayPal Support Congressional Dish via Patreon (donations per episode) Send Zelle payments to: Donation@congressionaldish.com Send Venmo payments to: @Jennifer-Briney Send Cash App payments to: $CongressionalDish or Donation@congressionaldish.com Use your bank's online bill pay function to mail contributions to: 5753 Hwy 85 North, Number 4576, Crestview, FL 32536. Please make checks payable to Congressional Dish Thank you for supporting truly independent media! View the show notes on our website at https://congressionaldish.com/cd276-the-demise-of-dollar-dominance Background Sources Recommended Congressional Dish Episodes CD269: NDAA 2023/Plan Ecuador CD230: Pacific Deterrence Initiative CD195: Yemen CD187: Combating China CD102: The World Trade Organization: COOL? International Monetary Fund “IMF Financial Activities List 2023.” Updated June 21, 2023. International Monetary Fund. “Weekly Report on Key Financial Statistics.” June 9, 2023. International Monetary Fund. “IMF Lending.” Updated December 2022. International Monetary Fund. Argentina “Argentina: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding” October 17, 2018. International Monetary Fund. “Argentina Policy Memorandum.” January 11, 1999. International Monetary Fund. Ecuador “Ecuador—Supplementary Letter of Intent.” March 13, 2003. International Monetary Fund. Smaller Banks within the World Trade System International Finance Corporation China “Members and Observers.” World Trade Organization. “ China and the WTO.” World Trade Organization. “From ‘China Shock' to deglobalisation shock: China's WTO accession and US economic engagement 20 years on.” Stephen Kirchner. January 24, 2022. United States Studies Centre. “The China Reckoning: How Beijing Defied American Expectations.” Kurt M. Campbell and Ely Ratner. February 13, 2018. Foreign Affairs. The World Bank “Who can borrow from the World Bank?” December 10, 2020. Bretton Woods Observer. “Domination of the United States on the World Bank.” Eric Toussaint. April 2, 2020. Committee for the Abolition of Illegitimate Debt. “Why Is the World Bank Still Lending to China?” Yukon Huang. January 15, 2020. Carnegie Endowment for International Peace. Congressional Stock Trade Tracking Quiver Quantitative Unusual Whales US Abuse of Sanctions “The Other Counteroffensive to Save Ukraine.” Lawrence Summers et. al. June 15, 2023. Foreign Affairs. Allies Pivoting “Europe must resist pressure to become ‘America's followers,' says Macron.” Jamil Anderlini and Clea Caulcutt. April 9, 2023. Politico. “US State Dept backs latest raft of Saudi, UAE, Jordan arms sales.” February 2, 2022. Al Jazeera. Witnesses Mark Rosen on Linkedin Daniel F. Runde on Linkedin “Membership Roster.” Accessed June 24, 2023. Council on Foreign Relations. Tyler Goodspeed on Linkedin Carla Norrlof - “Board of Directors.” Atlantic Council. Daniel McDowell bio Marshall Billingslea on Linkedin Audio Sources Dollar Dominance: Preserving the U.S. Dollar's Status as the Global Reserve Currency June 7, 2023 House Financial Services Committee Watch on YouTube Witnesses: Dr. Tyler Goodspeed, Kleinheinz Fellow, Hoover Institution at Stanford University Dr. Michael Faulkender, Dean's Professor of Finance, Robert H. Smith School of Business at University of Maryland Dr. Daniel McDowell, Associate Professor, Maxwell School of Citizenship & Public Affairs at Syracuse University Marshall Billingslea, Senior Fellow, Hudson Institute Dr. Carla Norrlöf, Senior Fellow, The Atlantic Council and Professor, University of Toronto Clips 34:05 Dr. Tyler Goodspeed: In 2022, as the Ranking Member highlighted, 88% of all foreign exchange transactions by value involved the United States Dollar, a figure that has been roughly constant since 1989, which is testament to the substantial path dependence in international currency usage due to large positive network externalities. As the Ranking Member also highlighted, 59% of all official foreign exchange reserves were held in US dollars, which is down from a figure of 71.5% in 2001. By comparison 31% of all foreign exchange transactions by value involve the Euro, which is the second most commonly transacted currency, which accounted for 20% of official foreign exchange reserves. 34:50 Dr. Tyler Goodspeed: The fact that 90% of all foreign exchange transactions continue to involve the United States dollar, and that global central banks continue to hold almost 60% of their foreign exchange reserves in US dollars confers net economic benefits on the United States economy. First, foreign demand for reserves of US dollars raises demand for dollar denominated securities, in particular United States Treasury's. This effectively lowers the cost of borrowing for US households, US companies, and federal, state and local governments. It also means that on average, the United States earns more on its investments in foreign assets than we have to pay on foreign investments in the United States, which allows the United States to import more goods and services than we export. Second, foreign demand for large reserves of US dollars and dollar denominated assets raises the value of the dollar and a stronger dollar benefits us consumers and businesses that are net importers of goods and services from abroad. Third, large reserve holdings of US currency abroad in effect constitutes an interest free loan to the United States worth about $10 to $20 billion per year. Fourth, the denomination of the majority of international transactions in US dollars likely modestly lowers the exchange rate risks faced by US companies. Fifth, the given the volume of foreign US dollar holdings and dollar denominated debt, monetary policy actions by foreign central banks generally have a smaller impact on financial conditions in the United States than actions by the United States Central Bank have on financial conditions in other countries. 36:40 Dr. Tyler Goodspeed: However, the benefits of the US dollar's global reserve status are not without costs. The lower interest rates in the United States benefit US borrowers, especially the federal government. They also lower returns to US savers. In addition, though a stronger dollar benefits US consumers and businesses that net import goods and services from abroad, it does also disadvantage US firms that export goods and services abroad as well as firms that compete against imported goods and services. Furthermore, the perception of the US dollar as a safe haven asset means that demand for the dollar tends to increase in response to adverse macroeconomic events that are global in nature. As a result, the competitiveness of US exporters and US firms that compete against imported goods and services are likely to face an increased competitive disadvantage at times of elevated global macroeconomic stress. 37:35 Dr. Tyler Goodspeed: However, despite these costs, studies generally find that the economic benefits of the dollar's prominent global status outweigh the costs, providing a modest net benefit to the United States economy. This does not include the substantial benefit to which the chairman referred of the United States dollar's centrality in global transactions, allowing the United States to utilize financial sanction tools when appropriate in support of national security objectives. 44:50 Dr. Daniel McDowell: With little more than the stroke of the President's pen or through an Act of Congress, the US government can use financial sanctions to impose enormous economic costs on targeted foreign actors, be they individuals, firms, or state institutions, by freezing their dollar assets or cutting them off from access to the banks through which those dollars flow. The consequences for individual targets, known as specially designated nationals or SDNs, are severe, significantly impairing targets capacity to participate in international trade, investment, debt repayment, and depriving them of access to their wealth. Over the last two decades, the United States has used the tool of financial sanctions with increasing frequency. For example, in the year 2000, just four foreign governments were directly targeted under a US Treasury Country Program overseen by the Office of Foreign Assets Control (OFAC). Today that number is greater than 20, and if we include penalties from secondary sanctions the list gets even longer. The more that the United States has reached for financial sanctions, the more it has made adversaries and foreign capitals aware of the strategic vulnerability that stems from dependence on the dollar. Some governments have responded by implementing anti-dollar policies measures that are designed to reduce an economy's reliance on the US currency for investment in cross-border transactions. But these measures sometimes fail to achieve their goals. Others have produced modest levels of de-dollarization. Notable examples here include Russian steps to cut its dollar reserves and reduce the use of the dollar and trade settlement in the years leading up to its full scale invasion of Ukraine, or China's ongoing efforts to build its own international payments network based on the Yuan, efforts that have taken on a new sense of urgency as Beijing has become more aware of its own strategic vulnerabilities from Dollar dependence. 47:05 Dr. Daniel McDowell: The United States should reconsider the use of so-called symbolic financial sanctions. That is, if the main objective of a tranche of sanctions is to signal to the world or to a domestic audience that Washington disapproves of a foreign government's policy choices, other measures that can send a similar signal but do not politicize the dollar system ought to be considered first. Second, the use of financial sanctions against issuers of potential rival currencies in particular, China and its Yuan should face a higher bar of scrutiny. Even a small targeted sanctions program provides information to our adversaries about their vulnerabilities, and gives them time to prepare for a future event when a broad US sanctions program may be called upon as part of a major security crisis, when such measures will be most needed. Finally, whenever possible, US financial sanctions should be coordinated with our allies in Europe and Asia, who should feel as if they are key stakeholders in the dollar system and not vassals to it. Such coordinated efforts will prevent our friends from seeking to conduct business with U.S. adversaries outside of the dollar system and send a message to the whole world that moving activities into secondary currencies, like the Euro or the Yen, is not a safe haven. 48:35 Marshall Billingslea: I'll say at the outset that I agree with you and others that to paraphrase Mark Twain, reports of the dollar's demise have been greatly exaggerated. That said, we need to remind ourselves that in the 16th century the Spanish silver dollar was the dominant currency, in the 17th century it was Dutch florins, in the 18th century it was the pound sterling. The link between a nation's currency and its role as the relatively dominant political actor on the world stage is pretty clear. And that is why people like Lula from Brazil, Putin and Xi all aspire to undercut the role of the dollar as the global reserve currency. 50:00 Marshall Billingslea: If we look at what Russia did in the run-up to its further invasion of Ukraine, they began dumping ownership of treasury bonds in 2018. In that year, they plummeted from $96 billion and holdings down to $15 billion and they also started buying large amounts of gold. China is now, as the Ranking Member has observed, embarking on its own its own gold buying spree. I haven't seen the data for May, but April marked the sixth straight month of Chinese expansion in its gold holdings, and I'm not sure I believe the official figures. We have to recall that China is the dominant gold mining player around the world and half of those gold mining companies are state-owned. So the actual size of China's war chest when it comes to gold reserves may be far higher. In fact, I suspect inevitably far higher than official numbers suggest. Last year China also started dumping its treasuries. 2022 marked the largest or second largest decrease on record, with a drop of about $174 billion, and China stood at the lowest level since 2010. In terms of its holdings, though, this past March they did reverse course. This bears close watching because a sell-off may be a strong indicator of planned aggression. 51:20 Marshall Billingslea: The sheer size of the Chinese economy dwarfs what we've been contending with in the form of Iran, Russia, and so on. And one of the first things that the Biden administration did in the wake of Russia's attack was start sanctioning Russian banks and de-SWIFTing them. That's one thing when you're going after an economy smaller than the size of Texas; it's quite another when you consider that out of the 100 largest banks in the world, China has 20, and all four of the top four are Chinese banks. And that is why many within the Treasury contended when I was there, and they will contend to this day, that these Chinese banks are simply too big to sanction. I don't agree that we can allow that to stand but I do believe we have to start taking very swift action to put us in a situation where we could take punitive measures on these banks if necessary. 54:10 Dr. Carla Norrlöf: I will note that the Dollar's dominance is not quite as strong amongst private actors and private markets as it is with governments. In private transactions, it averages about 45% of the world's total. That includes FX transactions, but also things like issuance of international debt, securities, and cross-border banking. 54:55 Dr. Carla Norrlöf: The Chinese Yuan poses no immediate threat to dollar dominance. It accounts for roughly 3% of overall reserves. So far China has been successful in promoting the Yuan with its trade partners, but the Yuan is scarcely used by countries outside trade with China. China is a potential long term challenger due to its active pursuit of trade and investment relationships. If the Yuan is increasingly used by third countries, it will pose a greater threat to the dollar. 55:30 Dr. Carla Norrlöf: And in addition to these external threats, there is also a domestic threat. Flirting with the possibility of a voluntary default puts dollar dominance at risk. What should the US do to maintain dominance, to curb the domestic threat? Congress should consider creating an alternative mechanism for resolving political differences on government spending and its consequences. 56:00 Dr. Carla Norrlöf: To rein in external threats the United States should, whenever possible, implement multilateral sanctions in support of broadly endorsed goals to shore up the liberal international order. This is likely to limit dollar backlash. 59:40 Marshall Billingslea: The thing I do worry -- I come back to this fact that they've been buying a lot of gold -- that one of the things that they could do, which would be very concerning, if they wind up having larger reserves of gold than we believe, is they could start issuing Yuan or gold denominated, gold-backed Yuan contracts and that would further their ambition for introducing the Yuan onto the world stage. 1:05:00 Marshall Billingslea: China considers the actual composition of its foreign exchange reserves to be a state secret. So they don't publish and they they view it as a criminal offense to try to obtain that information in terms of the balance of how much is gold, how much Dollar or Euro denominated. But the numbers I've seen suggest that still at this moment, about 50% to 60% of their Foreign Exchange reserves are still in Dollars or Euros, which means that they are at high risk of sanctions; we can affect them. The problem is that that war chest that they've built up is enormous. It's more than $3 trillion that they have in Foreign Exchange reserves. Compare that with what Russia had at the onset of its assault, which was around $680 billion, of which we managed to freeze overseas half of it, but Russia is still keeping its economy going despite the Biden administration sanctions. So imagine how they're going to be able to continue with that sizable war kitty in Beijing if they do decide to go after the Taiwanese. 1:09:00 Dr. Tyler Goodspeed: Short term I think the risk is that we continue to see diversification away from the dollar, PRC continuing to push other countries to use trade inverse invoicing and Renminbi, that they continue to promote the offshore Renminbi market, that they continue to promote or force bilateral clearing. Longer term, I think the bigger risk is that foreign investors no longer perceive the United States federal government debt to be as safe and risk free as it is today perceived. 1:41:20 Dr. Daniel McDowell: The demonstration of US control over the actual flow of dollars, of communication, absolutely provides information to adversaries to prepare for events where they may face similar circumstances. And so I think what we're seeing is China, we're seeing Russia, we're seeing other countries try to create alternative payments networks. Russia has its own SPFS payment messaging system. It's quite small. It was launched in 2014, not coincidentally, after the initial round of sanctions targeting Russia. In terms of CIPS, China's cross border payments network, Belarus announced it was having banks join immediately following the 2022 sanctions. So what I'm saying is there's a pattern between when the United States mobilizes control over the pipes and the messaging of cross-border payments and adversaries looking for alternatives. It doesn't mean they're using them, but they're getting plugged into the system as at least sort of a rainy day option in the event of a future targeting. 1:45:35 Dr. Daniel McDowell: I look at China not just as a typical country, because I think they're an alternative service provider. Most countries fall into alternative service users; they're looking for an alternative to the dollar. China, you could perhaps put Europe in this as well, are the only two sort of economic BLOCs capable, I think, of constructing an attractive enough cross-border payments network that could attract those alternative service users that are looking for that network. And so that's why I think again, with China, there should be a higher bar of scrutiny. 2:02:20 Dr. Tyler Goodspeed: As deficits mount and as the debt burden rises above 100%, I think the Congressional Budget Office has it ending the budget window at about 119% of our economy, then we will probably observe an acceleration of diversification away from the dollar as a hedge. Again, I don't see another single currency displacing the dollar as the major international currency or as the major reserve currency, but continued diversification. International Financial Institutions in an Era of Great Power Competition May 25, 2023 House Financial Services Committee Watch on YouTube Witnesses: Jesse M. Schreger, Associate Professor of Business, Columbia Business School Mark Rosen, Partner, Advection Growth Capital and former Acting Executive Director, International Monetary Fund (IMF) Daniel F. Runde, Senior Vice President, Center for Strategic & International Studies(CSIS) Rich Powell, Chief Executive Officer, ClearPath & ClearPath Action Daouda Sembene, Distinguished Nonresident Fellow, CGD and CEO, AfriCatalyst Clips 39:55 Mark Rosen: The IMF is the global lender of last resort to countries that are in economic distress. IMF borrowers usually have a balance of payments problem, are running out of foreign exchange reserves, and so cannot meet their obligations. The IMF negotiates a set of economic policies with the borrower in government to alleviate the crisis, and, conditional on the government implementing the agreed policies, provides a loan in tranches, normally over a three year period. 41:00 Mark Rosen: The biggest challenge the IMF faces today is China which, as we've heard, has lent vast sums to emerging market and low income countries in a non-transparent and irresponsible manner. Many IMF members are now struggling to repay China. 42:05 Mark Rosen: The United States is the largest shareholder in the IMF and has veto power over certain key decisions and it's critical that the US continues to maintain its ownership of more than 15% which enables it to have this veto power. 42:20 Mark Rosen: China for some time, has been pressing for an increased quota share at the IMF. However, given its irresponsible lending, and then willingness to provide debt relief to developing countries, this is not the time to reward China with increased ownership at the Fund. Two other issues I'd like to focus on are anti-corruption and the catalytic role of the private sector in the work of the IMF. Corruption is a severe problem for many emerging market countries, which do not have strong institutions that can confront and root out corruption. The IMF is certainly doing a much better job than it did historically on anti-corruption, but I believe it's critical that it continues to make anti corruption laws and policies front and center in the conditions of its lending programs, as well as a focus of its technical assistance. Only by reducing corruption will many of these countries be able to attract the vast amount of private sector investment which is potentially available and remains the ultimate key to reducing poverty. Establishing a rule of law, including laws to protect private property is key to unlocking this investment. And it should be a focus of the IMF and World Bank to encourage these countries to improve the rule of law and to fight corruption. If they do that, emerging market countries can attract private capital and grow rapidly as many countries that have followed that path have already done so successfully. 44:45 Daniel Runde: Multilateral development banks, MDBs, under US and Western leadership are one way that we can respond with something. The United States built and strengthened the MDB system. MDBs provide money, advice, data and convening power to help developing countries solve problems. If the US exerts its influence over these institutions, they are forced multipliers of a US-led global system. If we disregard our leadership role, then other actors, including China, can exert influence over them. The World Bank Group is a series of institutions: it lends money to national governments, it has a private sector arm, and has an insurance arm. There are a series of other regional development bank's including the InterAmerican Development Bank, the Asian Development Bank -- Taiwan is a member of the Asian Development Bank -- the African Development Bank and the EBRD, the European Bank for Reconstruction Development Bank, focused mainly on countries that used to be behind the Iron Curtain. The United States has been instrumental in creating the majority of these institutions and remains the largest, or one of the largest, shareholders of every afformentioned MDB. Since the founding of these institutions, the US has used its shareholding power to shape the policies and activities of MDBs in indirect support of American foreign policy. 47:10 Daniel Runde: What role does China play in the MDBs? They're a shareholder. China continues to borrow from the World Bank and the Asian Development Bank. That is crazy. That needs to stop. China is a shareholder. Also, Chinese firms can bid on MDB projects. China wins a lot of in terms of dollar value, a lot of the dollar value of World Bank contracts. Something to take a look at. 47:35 Daniel Runde: How does the Belt and Road figure into the MDBs? You all have heard of the Belt and Road. Infrastructure is now a strategic issue. China's Belt and Road Initiative is a combination of construction and financing projects for roads, airports, and energy around the world. Unfortunately for us, BRI is an ambitious project that speaks to the hopes of China's friends and potential friends. To counter the BRI, the US needs a positive alternative that says more than, "Don't work with China." Right? That's not a strategy. We've got to have an alternative. 1:12:50 Rep. Andy Barr (R-KY): How do we end China's eligibility to borrow from the World Bank? Daniel Runde: The Asian Development Bank has said they're going to end their eligibility by 2025. We should absolutely hold them to that. There is a temptation for the World Bank and the Asian Development Bank to continue to loan for a couple of reasons. One is they say, "Well, this is a window into how we can understand China better." There's lots of other ways to understand China better. And or this is a way for us to -- for a bunch of lending reasons that they do it. You all have the power of the purse, you have an ability, I think you should have blunted conversations with the administration about this. I suspect it's an open door, but it's going to require, I think, some pushing from Congress. I would encourage this committee to push the administration on ending lending to China. 1:14:30 Jesse Schreger: So fundamentally right now, the Renminbi is not yet positioned to compete with the US dollar for a number of reasons. First and foremost, the reason that the dollar plays the role it does in the international financial system is it provides the global safe asset. You're confident, except for the upcoming debt ceiling, that you will always be paid back if you own US dollars. That's fundamentally what you know. When you contemplate investing in China and holding Chinese Renminbi as reserves, you're not necessarily sure that you're gonna be able to turn that piece of paper into the goods and services that you need or intervening in FX markets. 1:21:15 Jesse Schreger: First and foremost, what China is trying to do is essentially convince countries around the world that the Renminbi is an alternative asset to invoice your trade and to invest in. And so on the investment side, they've been working very hard to actually allow in foreign capital, encouraging foreign central banks to hold Renminbi denominated bonds as their reserves. And on the trade side, they're encouraging firms to invoice, basically price their goods, in Renminbi. There's a few areas in which they've had challenges there. So first, we actually don't know who are holding most of these Renminbi denominated assets. What you can see is after the US sanctioned Russia back in 2014, it was the Russian Central Bank that effectively announced they were moving out of US dollar denominated assets and into Renminbi, so they did that publicly. And so China has effectively been trying to attract foreign capital of that form and a lot of the reasons for that is that China finds itself vulnerable in the dollar-based financial system. And so what I would say the fundamental area in which the United States can assure the dominance of the dollar is making everyone understand that US Treasuries are the world's safe asset that there is no state of the world in which the United States can or will default. 2:03:25 Jesse Schreger: I think the real way in which people start being able to issue and borrow in Renminbi is when people start thinking in terms of the goods that they need to buy and consume are in Renminbi. Fundamentally, most countries around the world, if they issue a bond in Renminbi, the calculation they have to do is then "okay, I'm going to take my renminbi and convert it into US dollars to buy the thing in which I need." And so while actions in the US financial system are certainly going to affect other countries decisions to borrow in Renminbi, the kind of underlying challenges in Chinese financial markets and fundamentally the lack of goods priced and sold in Renminbi are going to continue to hold back kind of a growth of this market for a while. And in particular, the fact that many countries are reluctant to try to raise money inside of China's liquid onshore capital markets for, effectively, fear of capital controls. If you've raised renminbi in China, you can't get that out and to your projects the way you can if you raise money in the US in dollars. 2:14:55 Daniel Runde: The business model of the World Bank is they lend money to richer countries with a pretty good credit rating and then they cross subsidize that by lending to poor countries with a poor credit rating. My view is, China can finance its own development, we should stop this practice. I think the Asian Development Bank has sort of gotten the memo, but the World Bank has not fully gotten the memo and they'll give you kind of World Bank-y answers to this sort of thing. We got to stop it. Rep. Zach Nunn (R-IA): Mr. Runde, I could not agree with you more. And you highlighted earlier, you know, by 2025, China should graduate from this program. I'd offer that 25 is two years too late. We can start funneling them off that now. Daniel Runde: I agree, sir. Rep. Zach Nunn (R-IA): I think you're in the right spot. Thank you. Music Tired of Being Lied To by David Ippolito (found on Music Alley by mevio) Editing Pro Podcast Solutions Production Assistance Clare Kuntz Balcer Cover photo Eric Prouzet on Unsplash