In the wake of the COVID-19 pandemic, the hit to the global economy in 2020 was severe. Not surprisingly, permanent effects are expected to hamper global economic growth for years. In the 2021 Economic Briefing, Global Economist Mark Tierney from AustralianSuper will explore the effects. Mark will discuss how these effects may actually be less important than the massive divergences that have emerged between sectors in many countries.
Ongoing restrictions on services sectors have been accompanied by a huge, early rebound in many goods sectors. Ultra-low interest rates and enormous fiscal stimulus have force-fed demand and production on global manufacturing, including steel. According to Mark, while vaccinations should improve the outlook for the services sectors, global persistently low interest rates and looming fiscal stimulus in the US will also provide ongoing support for global manufacturing.
Mark Tierney has a BEc (economics and industrial relations) and MEc (international and monetary economics). Since graduating from university Mark has had 35 years’ experience in financial markets in Australia including roles as both a trader and analyst. This period included the float of the Australian Dollar, the 1980s boom and crash, the Asian crisis, the technology boom and crash, the rise of China and the commodities boom, the GFC and the extraordinary changes in economic policy over the past ten years. In 2012 Mark joined AustralianSuper as the economist in the asset allocation team within Investments with coverage of the main developed economies, including Australia. The role includes forecasts of these economies and commentary on key policy/political changes that may affect the performance of asset markets.
Tuesday 16 March 2021, 9am - 10.30am AEDT
Attendees will be emailed access information prior to the event.