{"id":55955,"date":"2017-12-12T14:08:37","date_gmt":"2017-12-12T05:08:37","guid":{"rendered":"https:\/\/www.waseda.jp\/top\/en\/?p=55955"},"modified":"2017-12-13T09:17:37","modified_gmt":"2017-12-13T00:17:37","slug":"governor-of-bank-of-france-on-the-challenges-of-multilateral-economic-order","status":"publish","type":"post","link":"https:\/\/www.waseda.jp\/top\/en\/news\/55955","title":{"rendered":"Governor of Bank of France on the challenges of multilateral economic order"},"content":{"rendered":"

On December 4, Governor Fran\u00e7ois Villeroy de Galhau of the Bank of France visited Waseda University and spoke about the challenges of multilateral economic order, specifically on the European model and response to the current international and European situations under various circumstances such as free trade, common markets, increasing tendency of protectionism and separatism. This talk was organized by Waseda University (International Office, the TGU Center for Positive\/Empirical Analysis of Political Economy<\/a>, Waseda Institute of Political Economy<\/a> and the Faculty of Political Science and Economics<\/a>) and the Bank of France, with the support of the Embassy of France.<\/p>\n

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Historically, Waseda University has conducted education and research on France. President Kamata, who attended the lecture, explained that France was recently designated as one of the University\u2019s most important partner countries, and Waseda has led the Japan-France educational and research exchange, including student and faculty exchange, as well as collaborative research. He commented that, \u201cThe Governor\u2019s lecture focusing on how Europe, progressing with its unification and evolution, is facing complex and tough challenges will surely be beneficial for students gathered here today who will be future leaders in the world.\u201d<\/p>\n

Governor Villeroy de Galhau, who advocates for strengthening the European economic alliance, argued that there is a need for active multilateralism in order to face global challenges of today. \u201cInternational cooperation between countries is more important than ever. We Europeans and Japanese, together with other countries, must defend international economic relations based on commonly respected rules and multilateral institutions such as the International Monetary Fund (IMF) and Multilateral Development Bank (MDB). If they deteriorate, it would dampen world trade and economic activity,\u201d he said. Furthermore, the Governor stated that the global economic recovery has been gathering pace since 2016, but financial stability and protectionism, namely a tendency in the United States at the moment, are two major risks that threaten growth. \u201cProtectionism is not an answer to rising inequalities and poverty but exactly on the contrary.\u201d<\/p>\n\n\t\t