Michael Bloomberg Sees Lessons Learned From Pandemic: NEF Update

Michael Bloomberg opened the New Economy Forum on Monday saying that the lessons learned from the global fight against Covid-19 could help the world take on challenges including climate change and racial and economic inequality.

“We can right the ship of the global economy and put it on a smart course for the months and years ahead,” the former New York City mayor said at the start of the annual forum. “The truth is the pandemic has also reminded us what’s possible when the public and private sectors collaborate.”

The New Economy Forum is an annual gathering of leaders in business, government, energy and trade to discuss some of the world’s most intractable challenges. The coronavirus pandemic and the impact it has wrought on the global economy is a centerpiece of those talks this year.

The New Economy Forum is organized by Bloomberg Media Group, a division of Bloomberg LP, the parent company of Bloomberg News. Michael Bloomberg is the founder and majority owner of Bloomberg LP.

133,045 in U.S.Most new cases today

+5% Change in MSCI World Index of global stocks since Wuhan lockdown, Jan. 23

-0.​8165 Change in U.S. treasury bond yield since Wuhan lockdown, Jan. 23

4.​7% Global GDP Tracker (annualized), Sept.

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The four-day summit comes amid the virus’s resurgence, particularly in the U.S. and Europe, and early but promising developments regarding a potential vaccine. To date, the virus has infected at least 54 million people and caused about 1.3 million deaths, including an estimated 240,000 in the U.S.

Speakers at the four-day summit include Ginni Rometty, the executive chairman of IBM, Indian Prime Minister Narendra Modi, Ray Dalio, the co-chairman and founder of Bridgewater Associates and Christine Lagarde, president of the European Central Bank. The focus of the forum will shift from finance and trade on Monday to cities, climate and global trade in the coming days.

“Every big challenge we face requires cooperation and collaboration,” Bloomberg said in his remarks. “If we act wisely, we can invest in ways that reduce greenhouse gases and build resilience, that address economic and racial inequality, that reduce poverty and improve public health, and that spur growth and job creation.”

After Bloomberg, United Nations Secretary-General Antonio Guterres is scheduled to address participants. --Bill Faries

Rometty, Kissinger, Schwarzman Open Bloomberg Forum

With the coronavirus pandemic impacting everything from the global economy to geopolitics, leaders from government, finance and industry will address the world’s most pressing challenges at the Bloomberg New Economy Forum starting on Monday.

The four-day event will cover issues from the economic fallout of the pandemic and the logistics of vaccine distribution to the future of global trade and climate change.

Business and finance leaders taking part on Monday include Stephen Schwarzman, CEO of Blackstone Group Inc; Chris Kempczinski, president and CEO of McDonald’s Corp.; and Ginni Rometty, the executive Chairman of IBM. They will be joined by political leaders and thinkers including United Nations Secretary-General Antonio Guterres, former U.S Secretary of State Henry Kissinger and Chinese Vice President Wang Qishan.

The summit begins at 8 a.m. New York time and continues through Nov. 19. More information can be found online at www.neweconomyforum.com. The New Economy Forum is being organized by Bloomberg Media Group, a division of Bloomberg LP, the parent company of Bloomberg News.

— With assistance by Bill Faries, Peter Martin, and David Wainer

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