The Redesign of the Global Financial Architecture: State Authority, New Risks and Dynamics

The global financial crisis ten years ago led to the implementation of systems to prevent future banking crises. However, this updated edition questions whether the current paradigm is still fit for purpose as new dangers emerge. It discusses the impact of the Trump administration's policies on the regulatory landscape and explores potential future scenarios for the international regulatory architecture. The book highlights the importance of being prepared for future risks, including the COVID-19 pandemic and economic crash, and questions the effectiveness of the G20 in addressing these crises without US leadership.

Format: Paperback / softback
Length: 246 pages
Publication date: 29 April 2022
Publisher: Taylor & Francis Ltd

More than a decade has passed since the peak of the global financial crisis, and the collective international response at the G20 summit in London marked a significant turning point. A 'new normal' has emerged, with systems in place to mitigate against future banking crises. However, this updated edition raises important questions: Is the current regulatory framework still fit for purpose as new dangers emerge and develop?

The book delves into the impact of the Trump administration's aggressively deregulatory and anti-globalist policies, which have reshaped the regulatory landscape. It explores the implications of the 'America First' policy for the global regulatory architecture, constructed and tended by previous leaders. The author also addresses new and emerging systemic risks, many of which lie outside the traditional realm of regulated banking. These risks have grown in importance since 2015, and the author presents possible future scenarios for the international regulatory architecture, considering both negative and positive outcomes.

The COVID-19 pandemic and economic crash have put the global system to the test, and the absence of US leadership in the G20 has raised concerns about its ability to navigate this latest and most severe crisis. This book offers a unique narrative explanation, drawing from key actors involved in critical events and policy changes during the post-crisis period. It builds upon the foundation of the first edition, capturing key developments over the past five years while raising critical questions and vulnerabilities. The author also looks ahead to future risks and challenges that may lie ahead.

This text is of immense interest to students, teachers, and researchers in the fields of financial frameworks

Globalisation and Political Economy. It provides valuable insights into the complex dynamics of the global financial system global system and the challenges posed to international cooperation.

Weight: 460g
Dimension: 234 x 156 (mm)
ISBN-13: 9780367562786
Edition number: 2 ed