A bridge to society (…)

to William Ross Managing Director General of MEB: “This new cycle of conferences wants to take into account a reality: Monaco is an international center where 140 nationalities live in harmony among residents and employees. By organizing events in English, the Monaco Economic Board aims to be more representative than ever in the Principality’s economic structure..”

For this first, MEB has tied up with BNP Paribas Wealth Management, the group’s private bank of the same name, which has been the principal since 1904. Head of its investment strategy Edmond Shing This new formula introduced its style, lively and educational print.

Edmund Shing introduced this new formula with his style, lively and educational print.

Organized into two chapters, his speech focused on the first The current economic situation has been described as “unusual”. To develop his opinion, the economist relied on many data and curves, which he knew how to make understandable to everyone. Every once in a while, the singular character has indeed struck, often with extraordinary speed and intensity, caused by equally exceptional events such as the health crisis or the war in Ukraine.

For example, a sudden and very sharp rise in interest rates, central banks’ reaction to inflation and a collapse in credit. Or intense tension in the labor market with unprecedented unemployment rates in many countries as major crises unfold. In the same vein, despite the international climate, stock markets have been very successful, meaning that companies continue to offer the opportunity to reap significant returns. In short, a singular but positive observation. The economist recognizes that a recession is necessary and inevitable, but the starting point is particularly favorable.
The other part focused on the challenges ahead, starting with artificial intelligence. Edmund Shing is an expert, but as an investor, he recommends caution. Previous technical developments have systematically shown the appearance of a bubble in markets, and a bubble that bursts to return to rational values. In this game, there are winners and losers.

Among his recommendations are safe havens like gold, but other rare metals, especially those used for batteries or semiconductors, are good options, he says. Actions in the fields of finance, energy or health should also be prioritized according to him.

In the game of public questions, artificial intelligence has returned with emphasis. A subject that is fascinating enough to worry about and shows that the debate is far from over. During the cocktail that followed, the participants’ satisfaction with both the content of the conference and its formulation in English was evident.