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Financial crisis risk elevated by populist era, Richard Baldwin warns
Richard Baldwin, industry influencer, highlights comments from Martin Wolf warning of a potential financial crisis. Wolf notes that the chances of pre-emptive action to address global financial imbalances are “close to zero” and argues that the ability to take such action has been undermined by an era of populism, nationalism, and multiple policy mistakes.
The statements underscore concerns about the current global economic environment.
Baldwin has previously raised concerns that AI-driven hacking could pose new threats to banks. He also pointed out that aggregate demand from data centres has overtaken U.S. single family home construction. His recent focus has turned to risks from policy and systemic imbalances.
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