Exposing the Risks of Global Finance: Peter Dittus on ‘Playing with Fire’ (1/2)

Part 1 of Lynn Fries’s interview with Peter Dittus, former BIS chief, author of ‘Revolution Required’ who praises the insights of Akyuz’s book ‘Playing with Fire’, notably in uncovering the current state of financial fragility triggered by the G7, worsened by the absence of international mechanisms to recover from systemic debt fall-outs. Link to the Real News Network page for this video here. Video appears after the introduction from South Centre below.

A South Centre debate on the state of the global economy and finance on the occasion of the book launch of Playing with Fire, Deepened Financial Integration and Changing Vulnerabilities of the Global South authored by Dr. Yılmaz Akyüz, Chief Economist of the South Centre, took place on 10 November 2017 at the Palais des Nations, UN Office in Geneva, Switzerland. Below is a coverage of the event by Lynn Fries of The Real News.

The meeting “Another Crisis on the Making” was moderated by Mrs. Yuefen Li, Special Advisor on Economics and Development Finance of the South Centre, with presentations by Dr. Richard Kozul-Wright, Director of the Division on Globalization and Development Strategies (GDS), UNCTAD, Dr. Y.V. Reddy, South Centre Board Member and Former Governor of the Reserve Bank of India, and Dr. Peter Dittus, Former Secretary General of the Bank for International Settlements (BIS). Dr. Yılmaz Akyüz, the author, responded to various comments and observations made by the panellists.

“Playing with Fire is a comprehensive account of financial integration of emerging and developing countries supported by a wealth of data and information. It also includes discussion of new vulnerabilities to external financial shocks. The book aids understanding of destabilizing interactions between key international markets for emerging and developing countries through a new concept of commodity-finance nexus. It takes a critical look at foreign direct investment.” (Oxford University Press)

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