FT News Briefing IMF leadership scandal clouds annual meetings
Oct 11, 2021
Tensions are rising as divisions between the US and Europe spiral over the future of the IMF's chief, Kristalina Georgieva. Meanwhile, Chinese electric vehicle maker BYD is soaring with innovative battery tech and expansion plans. In an exciting breakthrough, researchers are testing deep brain stimulation to tackle severe depression, potentially transforming mental health treatment. Each of these topics uncovers pivotal moments at the intersection of global finance, technology, and healthcare.
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IMF Leadership Controversy
- The IMF's annual meeting is overshadowed by controversy surrounding Kristalina Georgieva's leadership.
- The US and Japan want Georgieva to resign, while European powers and others support her, creating division within the IMF.
BYD's Battery Advantage
- BYD, backed by Warren Buffett, is a major player in electric vehicle batteries and cars.
- Their innovative LFP battery technology, using readily available materials, gives them a cost advantage and reduces reliance on complex supply chains.
New Depression Treatment
- A trial using neural electronics shows promise in treating severe depression by stimulating reward centers in the brain.
- Patient Sarah experienced significant improvement, but the trial is small and the technology is currently expensive.