Power dynamics in the global economy and the need for change

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This chapter explores the dynamics of the global economy and power distribution among countries, highlighting the influence of Japan over China despite the latter's larger GDP share. It discusses the US opposition to proposed changes, its efforts to counter China's economic influence, and the potential fallout if the IMF doesn't receive adequate resources. The chapter concludes with a mention of Oktoberfest and consumer confidence in the German economy.

Kristalina Georgieva backs reforms to the IMF that could eventually give more power to China, regulators are calling for more transparency for ESG rating agencies, and record numbers at this year’s Oktoberfest are a bright spot for the German economy.

Mentioned in this podcast:

AN ESG DATA

Germans shrug off economic gloom at booming Oktoberfest

Brussels to unfreeze Hungary funds as it seeks help for Ukraine

IMF head backs reforms that could give China more voting power

CLIPS: The Independent

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Monique Mulima, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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