Global financial institutions must embrace change or risk becoming outdated, warned Clay Lowery, executive vice president of the Institute of International Finance (IIF), during an exclusive interview at the 2024 Bund Summit in Shanghai.
💡 \"The system isn’t broken – but it needs upgrades to keep pace with today’s digital economy and shifting geopolitical landscape,\" Lowery told CGTN, comparing traditional frameworks to \"trying to stream a 4K movie on dial-up internet.\"
The call for modernization comes as developing nations push for greater representation in institutions like the IMF and World Bank. Lowery emphasized that reforms could help address climate financing gaps and improve crisis response – key concerns for young professionals and entrepreneurs navigating volatile markets 🌏💼.
While specifics about proposed changes remain under wraps, analysts say this debate could reshape how #GenZ interacts with global finance – from crypto regulations to green investment policies. Stay tuned for more updates as the summit continues!
