A weekly roundup of news stories highlighting the global delegates of the Bloomberg New Economy Community and their actions taken to address the world’s most significant changes and challenges.
“That’s garbage” said Bloomberg New Economy Forum 2018 Speaker Larry Fink in reference to modern monetary theory. In his interview with Erik Schatzker, Fink denounced that deficits don’t matter. Larry Summers, a Bloomberg New Economy Forum Advisory Board Member, Paul Krugman, and Jerome Powell are also in agreement with Fink.
Mobility companies are on the move this week. Go-Jek launched in Thailand under the name Get and Taxify has rebranded as Bolt. Grab has secured $1.5 billion in funding from SoftBank, bringing their latest round up to $4.5 billion far surpassing their goal. Grab’s President Ming Maa has alluded that they have no desire to slow down as they look forward to welcoming more global industry leaders as partners in 2019.
Ajay Banga, a Founding Partner, and David Solomon, a 2018 Speaker, were two of New York’s executives who crafted and signed an open letter urging Amazon back to the big apple. The letter cites the benefits the city would receive with Amazon opening their doors in Long Island City such as 25,000 permanent jobs, 11,000 union construction and maintenance jobs, and $28 billion in new tax revenues.
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