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Cryptocurrency going mainstream but EU & US regulators face challenges

Marietje Schaake, International Policy Director at Stanford's Cyber Policy Center, Eurasia Group senior advisor and former MEP, discusses trends in big tech, privacy protection and cyberspace:

Has cryptocurrency finally gone mainstream?

Well, it certainly looks like that because after some people had invested in bitcoins out of curiosity or the quiet hope to make a fortune, now the EU and the European Central Bank are considering a digital euro. And this week, Visa announced that it would accept crypto coins, too. So those developments may help facilitate trust in an area that is also known to be a safe haven for criminal money.

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Stopping the debt spiral in the world's poorest nations

"There needs to be a dramatic and deep reduction in the amount of debt on the poorest countries. That's clear." As the world's poorest nations struggle to recover from a devastating pandemic, World Bank President David Malpass argues that freeing them of much of their debt will be key. His conversation with Ian Bremmer is part of the latest episode of GZERO World.

The new wave of innovation is cause for business optimism about 2021

Kevin Sneader, Global Managing Partner at McKinsey & Company, provides perspective on what corporate business leaders are thinking during the global coronavirus crisis:

Should businesses be pessimistic or optimistic about 2021?

It's easy to be gloomy about the year ahead when faced with the realities of a cold, bleak winter in much of the world. Add to that lockdowns across Europe, surging case numbers and hospitalizations, and dreadful events in the Capitol in the US to name a few reasons for pessimism. But I think there is a case for optimism when it comes to this year. After all, it's true to say that it's always darkest before the dawn, and my conversations with business leaders suggest there are reasons to be positive by 2021.

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The World Bank's role in global economic recovery

Nearly eighty years after the World Bank was founded, its mission of lifting the global poor out of poverty has never been more urgent. Ian Bremmer explains on GZERO World.

Panel: Working together to protect cyberspace

Our October 14th livestream discussion, "Digital Peace: Trust and Security in Cyberspace," presented by GZERO Media — in partnership with Microsoft and Eurasia Group - focused on the need for a global framework to govern cyberspace.

The panel was moderated by Meredith Sumpter, CEO of the Coalition for Inclusive Capitalism, and included:

  • Marietje Schaake, International Policy Director, Cyber Policy Center, Stanford University
  • Marina Kaljurand, Member, European Parliament; Former Chair, Global Commission on the Stability of Cyberspace; Former Minister of Foreign Affairs of Estonia
  • Tom Burt, Corporate Vice President, Customer Security & Trust, Microsoft
  • Dapo Akande, Professor of Public International Law, University of Oxford

A major theme that emerged from the discussion is how the healthcare sector has become more vulnerable to cyberattacks due to the pandemic. But this sector also poses a major opportunity for governments and other actors to work together on protecting the world from such attacks — with huge resources already being mobilized to do so.

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Setting the global rules for peace in cyberspace, Wed Oct 14 at 11 am ET

The United Nations has been working for over a decade on a global framework to govern cyberspace. But will it ever happen if global powers benefit from having no rules for cyber war? Find out in a livestream discussion, "Digital Peace: Trust and Security in Cyberspace," presented by GZERO Media — in partnership with Microsoft and Eurasia Group — on Wednesday, October 14 at 11a ET/8a PT/4p BST.

Watch our UNGA livestream events at https://www.gzeromedia.com/unga/livestream. (No registration required.)

Meredith Sumpter, CEO of the Coalition for Inclusive Capitalism, will moderate the panel, which includes:

  • Marietje Schaake, International Policy Director, Cyber Policy Center, Stanford University
  • Marina Kaljurand, Member, European Parliament; Former Chair, Global Commission on the Stability of Cyberspace; Former Minister of Foreign Affairs of Estonia
  • Tom Burt, Corporate Vice President, Customer Security & Trust, Microsoft
  • Dapo Akande, Professor of Public International Law, University of Oxford
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The grand (economic) reopening debate is on!

Barely a month ago, the big debate about quarantines in Europe and the US was about whether it made sense to close much of the economy in order to stop the spread of the coronavirus.

But this week, with the increase in COVID-19 deaths seeming to slowin some of the major early epicenters, the debate about when, and how, to "reopen" our economies is getting a boost, for two big reasons.

First, the global economy is officially in a tailspin. The International Monetary Fund has just released a grim new global outlook that minces no words: "The Great Lockdown" has pushed the world into the biggest economic disaster since the Great Depression of the 1930s. The numbers are staggering. The global economy will contract thirty times more than it did during the 2009-2010 recession. Among major economies, only China and India will grow this year, and just barely.

Second, companies and banks have bad news. This week we'll get quarterly earnings reports from some of the largest companies and banks in the world, giving us a better sense of how the quarantines have hit their revenues, their balance sheets, and their hiring plans. E-commerce giants and disinfectant companies probably have great news to share – but major sectors like manufacturing, tourism, and hospitality are crushed.

The double-dose of tough economic news will inflame an already burning question: given that a vaccine is (at best) a year away from widespread availability, when is the right time to re-open the world's devastated major economies, and what does that look like? Here are a few things to consider as the debate unfolds.

First, it's not simply a trade-off between public health and economic health. Absent public confidence that the virus is at least under control, many businesses and workers won't be comfortable heading back to work, no matter what politicians say. And from a political perspective, no mayor or governor or president wants to rush to reopen, only to have to shut down again if the (inevitable) second wave overwhelms hospitals again. That would make both the economic and epidemiological crises much worse.

Second, it's not about flipping a switch. Reopening of economies will happen in small steps, as public health officials and political leaders – especially mayors and governors – and businesses work to establish the basic conditions for a return to economic activity. On the one hand, that requires a clearer picture of who has the disease and where it is spreading so that new outbreaks can be stopped. It also means equipping workplaces, public spaces, and public transportation to meet social distancing guidelines that will remain with us in some form until we're all vaccinated.

Third, there will be a huge fight over privacy. Most reasonable reopening plans involve a mixture of widespread testing to determine who is sick and who is immune, as well as extensive contact tracing in order to swiftly isolate new outbreaks. Either of these things would require a massive expansion of centralized authority (on the part of governments or tech companies) to administer tests, compile and access the results, and trace contacts. Questions about privacy and government reach will come to the fore very quickly, as we've already seen in responses to the recently announced Google/Apple partnership on contact tracing.

Bottom line: The debate over reopening will be contentious, and progress will be slow. One thing is certain: nothing that we think of as "normal" is coming any time soon.

Here's a thought: What does a sports stadium look and sound like if there are three blocked-off seats between each fan who's there? And do the smaller number of seats go to the highest bidder?

The Dangers of Deglobalization

“When bad things show up, they do show up later. And they're much bigger than expected."

Global economist and author Dambisa Moyo studies the intersection of geopolitics, business, and economics in an increasingly unstable world. In this episode of GZERO World, Ian Bremmer asks her about her increasingly bleak views on the future of the global economy.

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