Press Conference on the Asia Pacific Regional Economic Outlook in Singapore

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There are two major events being discussed. The managing director and first deputy managing director are in Italy for the G7 Finance Ministers and Central Bank Governors conference. Inclusionary development, protection as a global public good, and international taxation are the three main themes. The managing director will attend a conference in China on the 14th and 15th, organized by Chinese President Xi. She will participate in the debate on a number of topics, including financial connectivity. Later, Madame Lagarde will consult with some of China’s top politicians and officials. The deputy manager, on the other hand, will have a meeting in Tanzania for five days from May 13th and later proceed to Malawi for three days. The meeting is to include senior officials, different membership of civil society organizations, representatives of the business community and the IMF development partners.

The communications director also sheds light on rolling out of the different regional economic outlooks. There has been a release of the regional outlook for Central Eastern and Southeastern Europe. This is after having a regional outlook of the Asia-Pacific.

Questions are then posed concerning different issues. Some of the issues of concern include the discussion on Greek debt. Communication director agrees that they have come up with preliminary agreements regarding the economic policies that are necessary for Greece. The discussions on the Greek debt are still underway and what has been achieved is just part of the discussions. Notably, Greek is not one of the agendas of the meeting hence no discussions will be fronted to that effect.

Importance of the Video on the Course Discussions

In the course discussions, there is an aspect of international business as far as the commercial transaction is concerned. This augurs well with the discourse on the international taxation that will form part of the agenda of the managing director while in the G7 Finance Ministers and Central Bank Governors meeting in Italy. In every other location, people are surrounded by imports which include the goods and services that are brought from abroad and exports that are made up of the goods and services sold to oversee countries or outside a country’s border. The other agenda for the meeting to be held in Italy concerns inclusive growth. It is known that globally, there are companies of all types and sizes hence the deliberation of the meeting is likely to relate to the concept of key players as noted in the course discussions. Ideally, companies differ in the manner in which they involve themselves in international business. The large companies from some of the wealthiest nations are still dominant players in international business. On the other hand, the firms in the emerging markets such as Brazil, India and South Africa have to compete so much to get a fair share of the global market. Therefore, the deliberations on inclusive growth will help in coming up with the right policy address that can be used to address the issues and the disparity that is between countries.

In the course materials, the concept of globalization has been discussed. With globalization, the boundaries of countries become very irrelevant and easily penetrated as entities are transacted across borders. Just as noted in the agenda of the meeting, globalization only thrives when there is security. This means that the agenda on security as global public good will help address some of the issues that may threaten globalization.

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