Global Financial Crisis taught the world important lessons at many levels, says Rosie Rios

Rosie Rios highlighted the indispensable need to have rigorous fiscal and monetary changes in times of global recession. Underlying the importance of three major strategies, she goes on to further talk about the essential role of government to revive the economy. Her three-pronged approach focuses on mobilising private capital, supporting hard hit families and businesses, and categorical promise to prevent a catastrophic failure of financial system.

Her extensive experience of working closely with Obama’s and Biden’s government allowed her to draw parallels and compare the economic crisis situations in both these turbulent times. Furthermore, she reiterated how unprecedented steps taken at grassroot level helped the economies to shine and thrive.

She goes on to draw a stark contrast of economic crisis in 2008 to global pandemic in 2020. She calls it “social, political and economic tsunami”. She uses comparative analysis to evaluate the market conditions in 2008 and 2022.

In a nutshell, her detailed analysis and comprehensive study helped to understand how the risks of global crisis can be minimised with systematic governance and reformative policy regimes. Some of the stringent mesasures she suggests is encourage innovation to jumpstart job creation, investment in human capital as a major resource, addressing targeted inequality, etc.

Rosie Rios, the CEO of Red River Associates and a former US Treasurer, shared these thoughts during her keynote address at the 7th Economic Times Global Business Conference

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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