Info : Parution - REF n°145 " The international monetary and financial system faces new shocks "

The purpose of this issue is to provide an overview of the international monetary and financial system in the face of the uncertainties and threats facing the global economy today.
Over the past twenty years, the system has undergone profound transformations: product innovations, fintech, cryptoactives, deregulation and re-regulation, international integration of credit and bond markets, and the driving role of global banks in credit allocation.
Also discussed are the rise of China and emerging markets in international capital flows, the polarisation of global balance of payments imbalances, the systemic crisis of 2008-2009 and the crisis in the eurozone, the effects of unconventional monetary policies and the explosion of global liquidity.
To what extent is the international monetary and financial system able to respond to the currently foreseeable global risks and shocks that the world economy will inevitably face in the short and medium to long term?
What are the new challenges that the international financial and monetary architecture is already facing?