| On March 31, 2009, the World Bank Institute held the Global Dialogue: “Trade Impact and Trade Policy Responses to the Global Economic Crisis.” The event discussed the impacts of the crisis and assessed the trade impact of and trade policy responses to address the crisis and to manage the growth and distribution effects. Gathered at the event were senior officials from trade ministries, officials dealing with trade finance in the Central Bank, senior representatives from the Chamber of Commerce, National Exporters Association and senior managers from private sector banks from Argentina, Brazil, Egypt, India, Indonesia, Hungary, South Africa, South Korea, Thailand and Turkey.
The World Bank Institute (WBI) organized the Global Dialogues series for policymakers from client counties. The dialogues allow policymakers across regions and countries to discuss in real time, the effects on their economies of the current turbulence in financial markets, possibly policy responses, and share their experiences on related issues.
In this session, preeminent trade economist Jagdish Bhagwati, University Professor at the Columbia University, New York and Senior Fellow in International Economics at the Council of Foreign Relations, made initial remarks for 15 minutes on trade policy challenges facing the countries. As one of the world’s leading trade scholars, Professor Bhagwati has made major contributions not only in the science of trade theory, but also in the practical aspects of trade policy making. He has written widely, from scientific research articles, books, public policy essays and newspaper articles, and has reached a worldwide audience.
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