American University experts are available to discuss the G20 global financial summit in London, England, on Thursday, April 2. For complete expert profiles, see AU’s online Experts Guide.
Ghiyath Nakshbendi, an executive in residence in AU’s Kogod School of Business, says the euro has a long shot in the foreseeable future to replace the U.S. dollar as the currency of choice. “All indications are that the euro is gaining strength ever since it was introduced in 1999 and became actual currency in 2002,” Nakshbendi said. According to Nakshbendi, there are three basic reasons several noted experts argue against the euro taking over the dollar as a currency of choice. “Several experts say we cannot sustain two systems in the world markets; also, the dollar is still considered a currency reserve choice to the majority of world countries; and lastly, the importance of the dollar is connected with how other countries peg their local currencies to the dollar.” Nakshbendi, who teaches the courses Fundamentals of International Business and The Global Marketplace, can also discuss the push for greater international financial regulation and the significance of giving countries such as China, South Korea, Saudi Arabia, and Brazil more voting power in the International Monetary Fund.
Robin Broad, a former U.S. Treasury international economist, is a professor of international development in AU’s School of International Service. Broad is an expert on the Bretton Woods institutions and “development” (in economic, social and environmental terms). Her latest book—Development Redefined: How the Market Met Its Match (2008), coauthored with John Cavanagh—was released just before the U.S. financial meltdown and explains not only how market-based policies failed and instead wreaked economic, environmental, and social havoc in poorer countries, but also better ways forward. “The crisis has truly gone global, going beyond the financial markets to affect workers, businesses, and consumers in all countries,” said Broad. “One of the top priorities of the Obama administration should be to work with other governments to open up a genuine global dialogue and develop solutions that close down the financial casino and replace it with rules and institutions that can create healthy societies that meet the needs of their people and the increasingly fragile environment."
Robert (Bob) Sicina, an executive in residence in AU’s Kogod School of Business, says that to really solve the global financial crisis, the G20 nations should not forget oversights of past financial-regulation efforts, such as Sarbanes-Oxley, the Smoot-Hawley Tariff Act, and Bretton Woods. Sicina, an expert on international finance, international banking, and global business strategy, developed and teaches the course Strategic Decision Making: Learning from Failures. The course analyzes and explores the common threads underlying the causes of high-profile failures in the areas of public policy, business, and armed conflict.
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