TCSA Vice President Howard Chang Chairs High-Level Global Policy Forum with Panelists from NYU, Cognizant and the Federal Reserve Bank
PR86557
PARIS, Nov. 11, 2020 /PRNewswire=KYODO JBN/ --
Howard Chang, Vice President of Thousand Cities Strategic Algorithms Cloud
Technology (TCSA) was invited to chair the global policy panel on "Statecraft,
Economic Development and Central Bank Reform after the Pandemic" during the
Dialogue of Continents, a forum hosted by the Hamburg Institute of
International Economics and the Reinventing Bretton Woods Committee (RBWC).
The esteemed panelists included Benjamin Pring, founder of Cognizant, Venky
Venkateswaran, Associate Professor of Economics at the Stern School of
Business, New York University, and Lei Ding, Senior Economic Advisor at the
Federal Reserve Bank of Philadelphia.
The COVID-19 pandemic has delivered a devastating external shock to global
economy. However, it has also brought about an opportunity for all countries to
revisit existing paradigms and redefine the future of human development. On a
global level, the world must establish an international consensus and build
effective new cooperation mechanisms to combat crises in public health, climate
change, economic imbalance and other collective challenges. On a national
level, governments, political parties and leaders must enhance their governance
systems and strengthen their abilities to build a politically stable and
economically prosperous society.
Most countries in the world are mired in deep economic difficulties,
particularly in the wake of the pandemic. The simultaneous manifestation of
currency inflation and genuine economic deflation proves that current monetary
policies have become increasingly ineffective. If central banks continue to use
traditional apparatus such as interest rates, reserve ratios and increases in money
supply, no substantial improvements to economic development will be sustainable.
Globally, humanity has entered the rapidly changing Information Age. The
precise, logical and effective utilization of newly categorized data resources
will undoubtedly generate enormous value for national governance systems and
accelerate developments in the economy, environment, and public services.
Central banks around the world must evolve beyond their traditional
responsibilities of merely regulating interest rates or money supply, and take
on the critical role of becoming a "National Economic Database" and "National
Data Brain", in order to allow data resources to bring the benefits of a
digitalized society to every one of its citizens. About TCSA:
SOURCE: TCSA
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Caption: Howard Chang, Vice President of TCSA was invited to chair the Dialogue of Continents
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