It is a great pleasure to join you today. I would have been only too happy to come to London. The pandemic thwarted our plans. But luckily, events such as this can be shifted to the virtual sphere. https://www.bundesbank.de/en/press/speeches/too-close-for-comfort-the-relationship-between-monetary-and-fiscal-policy-850120  1/11  11/5/2020  Too close for comfort?
But co-dependence does not mean that it is inevitable that the sluggish growth in the advanced economies must cause the world as a whole to experience sluggish growth. With the right policy settings, it is not inconceivable that strong growth in Asia – driven by domestic demand – could continue despite the problems in the advanced economies.