Washington Event

[Agenda]     [Speakers]     [Venue] 

Re-evaluating the Developed-Emerging Market Divide
24 September 2011 - Hotel Sofitel Lafayette Square Washington DC

The solvency problems in Greece have highlighted the fragility of economies that may be considered part of the developed bloc but whose potential default may threaten the stability not just of the eurozone but of the global economy as a whole. With Greek and Portuguese debt spreads now exceeding those of Venezuela and Argentina, the dividing line between emerging and developed markets is becoming blurred.

The sovereign debt crisis in Europe has been a key focus for international capital markets. What impact will the crisis have on economic growth, not just in Europe but globally? Should the newer entrants to the eurozone have been subject to much tougher fiscal criteria before and after their admission? What implications will the latest Greek bail-out have on capital markets, liquidity and the cost of borrowing? What is the risk of contagion to other vulnerable economies in Europe and the rest of the world? What lessons can be learned from previous massive debt restructurings in Russia and Argentina?

Both the developed and developing world will be hit economic and financial shocks if the crisis in the euro area gathers steam. Which economic bloc will be the more resilient? Was the initial impression that the emerging world had decoupled from the developed world mistaken? Are the two worlds instead inextricably linked? Is there now less of a distinction between developed and emerging markets in terms of risk? What does that mean for capital markets?

In the latest in a global series of strategic forums looking at the key challenges facing the financial industry and capital markets, the Financial Times and Credit Suisse will gather senior decision-makers during the IMF / World Bank meetings in Washington to discuss the evolving view of emerging and developed markets, the potential shocks ahead and the new "new normal" that may result. Martin Wolf, Chief Economics Commentator, Financial Times, will chair the event.