Economists around the world are being kept awake at night by the financial implications of COVID-19. Public debt in emerging markets has surged to levels not seen in 50 years. With many countries having to borrow increasing amounts in their efforts to control the pandemic, Stephen Cole looks at possible solutions, the long-term effects, how the virus could prompt leaders to subsequently rethink their finances and the biggest question of all - who is profiting from the situation?
Jim O'Neill is an economist and former chairman of Goldman Sachs Asset Management. He explains to Stephen Cole why the current COVID-19 situation will have a long-lasting impact on the economy.
With China at the front of the COVID-19 recovery queue, The Agenda's Stephen Cole speaks to Zhang Jianping, Director General of the Chinese Academy of International Trade and Economic Cooperation, to find out what lessons the rest of the world might learn from the Chinese economic approach.
When debt brings a country to its knees, the first person they want to speak to is Lee Buchheit. The international sovereign debt advisor has acted as a lawyer for countries for decades. He tells Stephen Cole even he struggles to compare the current economic climate to one previously because the situation is unprecedented.