The Business Times

Udaibir Das

The Bank of England’s Financial Stability Report mentioned “resilience” eight times in 2015; by November 2024, the term had become the dominant theme in the text. This linguistic shift has become a systemic governing principle without operational meaning.

How ‘resilience’ became global finance’s mirage of strength

The borrowed metaphor now obscures more than it explains

Financial firms reconfigure their operations – from global integrators to jurisdictional separators, from efficiency maximisers to compliance optimisers, from universal service providers to selective gatekeepers.

The impossible choice: tariffs, sanctions and fragmentation

Parallel financial systems could force either breakdown or reluctant reintegration 

OAKLAND, CALIFORNIA - APRIL 28: In an aerial view, shipping containers are stacked at the Port of Oakland on April 28, 2025 in Oakland, California. American importers are seeing a surge in canceled sailings by freight ships out of China as the Trump administration's tariffs continue to impact the world's economy. Justin Sullivan/Getty Images/AFP (Photo by JUSTIN SULLIVAN / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)

Preventing trade shocks from igniting the next financial crisis

Preparedness, not prediction, is the watchword

As central banks such as Bank Indonesia turn to AI models for predictive accuracy, historical analysis risks becoming secondary.

New AI models risk economic amnesia

Will machines that think also forget?

US President Donald Trump, alongside Secretary of Treasury Scott Bessent (L) and Secretary of Commerce nominee Howard Lutnick (R), signs an executive order to create a US sovereign wealth fund, in the Oval Office of the White House on February 3, 2025, in Washington, DC. (Photo by Jim WATSON / AFP)

US sovereign wealth fund debate: A solution in search of a problem?

Bold vision or misplaced ambition?

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