Reshaping the financial order
Publication Type
Book Chapter
Publication Date
8-2017
Abstract
The financial system, which governs and manages the practice of deposits, lending and payments, is in the throes of disruption following the shortcomings of the current regime. Despite US$11 trillion in quantitative easing since 2007, economic growth has been persistently sluggish. The money isn't going where it should be. In 2015, McKinsey reported that global debt had grown by US$57 trillion since 2007. The debt is becoming unsustainable, yet the global debt-to-income ratio continues to rise disproportionally to any deleveraging. The Fed's meandering signaling to nudge up interest rates beyond the near zero range raises concerns that private and even public debt could become unserviceable, reeling the economy back into a serious recession.
Keywords
Bitcoin, Blockchain, Digital payments, E-commerce, Financial regime, Financial system, FinTech, LASIC
Discipline
Finance and Financial Management | Technology and Innovation
Publication
Handbook of Blockchain, Digital Finance, and Inclusion
Volume
1
Editor
David Kuo Chuen Lee & Robert Deng
First Page
1
Last Page
18
ISBN
9780128104415
Identifier
10.1016/B978-0-12-810441-5.00001-4
Publisher
Elsevier
City or Country
Cham
Citation
DULA, Christopher William and LEE, David Kuo Chuen.
Reshaping the financial order. (2017). Handbook of Blockchain, Digital Finance, and Inclusion. 1, 1-18.
Available at: https://ink.library.smu.edu.sg/lkcsb_research/5919
Additional URL
https://doi.org/10.1016/B978-0-12-810441-5.00001-4