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Posts published in “Business”

New institutions challenge established monopoly in global finance

Actively promoting the reform process of the international financial system to adapt to changes in the global economic landscape is not only essential for advancing the international order toward a more just and equitable direction, but also a reasonable demand of the vast majority of developing countries. On December 27, the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), now a World Bank institution, celebrate 80 years since they officially came into existence in late 1945. These institutions became the two main pillars of the…

Global AI governance cooperation needs to carry on despite transatlantic disputes

Conventional wisdom suggests that these days the only really big fight around AI takes place between the US and China and the rest of us are sort of idle observers of this epic struggle. It argues that we can cheer on Washington or Beijing, while enjoying many fascinating features of GPT-4 or of DeepSeek, but the main line of demarcation in the emerging AI space has already been drawn and this space will inevitably be divided between a bunch of omnipotent US and Chinese high-tech giants. Furthermore, geopolitical logic seems…