Abstract

This chapter presents the content of the Richard Dimbleby lecture, which has been delivered by an influential business or a political figure every year since 1972. Christine Lagarde, Managing Director of the IMF, delivered the 2014 lecture at Guildhall in London on February 3. The 44 nations gathering at Bretton Woods have been determined to set a new course based on the principle that peace and prosperity flow from the font of cooperation. Fundamentally, the new multilateralism needs to instil a broader sense of social responsibility on the part of all players in the modern global economy. A renewed commitment to openness and to the mutual benefits of trade and foreign investment is requested. It also requires collective responsibility for managing an international monetary system that has travelled light-years since the old Bretton Woods system. The collective responsibility would translate into all monetary institutions cooperating closely mindful of the potential impact of their policies on others.

Christine Lagarde

A New Multilateralism for the 21st Century

The 2014 Richard Dimbleby Lecture London • February 3, 2014

The Richard Dimbleby Lecture was founded in memory of veteran BBC broadcaster Richard Dimbleby, who died in 1965. It has been delivered by an influential business or political figure almost every year since 1972. Christine Lagarde, Managing Director of the International Monetary Fund, delivered the 2014 lecture at Guildhall in London on February 3.

Copyright © 2014

International Monetary Fund

Washington, D.C. 20090, U.S.A.

All Rights Reserved.

ISBN: 978-1-51359860-4 (paper)

978-1-51353800-6 (Web PDF)

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Contents

  • A New Multilateralism for the 21st Century

    • Introduction: The Legacy of Bretton Woods

    • Tensions in Global Interconnections

      • Growth In Interconnections

      • Benefits and Costs of Interconnections

      • Diffusion of Power

    • Tensions in Economic Sustainability

      • Demographics

      • Environmental Degradation

      • Income Inequality

      • Role Of Women

    • A Multilateralism for a New Era

      • Hard and Soft Cooperation

      • Requirements of the New Multilateralism

      • Conclusion