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Dave McKay, Larry Fink Talk Globalization, Inflation and Navigating a Changing World
Written by By RBC iShares | Published on August 4, 2022
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In June 2022, RBC iShares hosted its second annual exchange-traded fund (ETF) summit, featuring thought leaders from BlackRock and RBC Global Asset Management. They provided perspective on:
- Top of mind economic and market trends
- How bond ETFs have transformed the fixed income market
- How to capture future innovation through thematic investing
- ETF product strategies and the role they play in portfolio construction.
A highlight of the event was a panel discussion with Larry Fink, Chairman and CEO of BlackRock, and Dave McKay, President and CEO of RBC. Watch this video of their conversation on globalization, inflation and how to navigate a changing and complex world. Moderated by Armando Senra, Head of Americas ETF and Index Business, BlackRock.
Key takeaways
Globalization is not going away – but it's changing
Globalization has hit some roadblocks in recent years. With the COVID-19 crisis, we've witnessed the breakdown of global supply chains. With the Russian invasion of Ukraine, many countries and companies are now re-evaluating their dependencies. But this is not the end of globalization. Rather, it's a time to pause and reassess what globalization is and how it will be done.
Inflation may be here for a while
Several pressures have converged to make inflation harder to tame in the short term. Supply chain disruptions, acute labour shortages, and the war in Ukraine have all deeply impacted our economy. We may be looking at a few years of inflation as these forces unwind, helped over time by the transition to a green economy.
The transition to net zero must be orderly and inclusive
There's no greater challenge for our society and our planet than climate change. Businesses and governments need to plan the way forward together. Everyone must be brought along, including traditional energy companies. We'll need long-term capital investments in emission capture as well as new technologies to create a decarbonized future.
Change creates opportunity for investors
The world today is more complex and more turbulent than ever. As markets reset, they're creating tremendous opportunities for investors. Companies that can innovate and pivot quickly in the face of change will emerge as leaders. Those who pause will soon fall behind.
Learn more about ETFs in the Guide to Investing in ETFs.
RBC iShares is a strategic alliance between RBC Global Asset Management and BlackRock Canada.
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RBC iShares ETFs are comprised of RBC ETFs managed by RBC Global Asset Management Inc. (RBC GAM) and iShares ETFs managed by BlackRock Canada Limited (BlackRock Canada). RBC GAM and BlackRock Canada entered into a strategic alliance to bring together their respective ETF products under the RBC iShares brand, and to offer a unified distribution support and service model for RBC iShares ETFs.
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