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Best Advice: Give It a Shot

Jim Yong Kim's picture

One of the best pieces of advice I’ve ever received sounds pretty simple: Give it a shot.

Dr. Ted Alyea, a senior resident at the Brigham and Women’s Hospital in Boston, gave me this advice in 1991 when I was the most junior of physicians, an intern.

We were standing outside a patient’s room in the Intensive Care Unit. Our team was discussing the plan for treating a very sick patient when Ted said to me, “Tell us what you think we should do next. Give it a shot.”

During patient rounds, interns take turns outside a hospital room presenting the patient’s background; reciting what is known about the patient and the disease or condition including careful recounting of symptoms, laboratory data, diagnostic studies and current treatment. Then the intern and senior resident go into the room to examine the patient and afterward the team decides on a plan for treatment.

Taking the temperature of the financial world

James Bond's picture

Global attention is mounting about this year's Annual Meetings of the Bank and the Fund in Turkey. From Egypt, where I am on MIGA business on my way to Turkey, the discussion is around whether the meetings will advance the G20 communiqué in terms of substance and specific implementation measures.

Traffic in Instanbul, Turkey. Photo: Simone D. McCourtie / World Bank I spent two days earlier in the week with global private equity investors. Their anxiety mostly revolves around how financial sector regulation will evolve over the coming months. They feel the cold wind of oversight, and the discussion revolves around two competing plans for financial regulation, one emanating from Brussels and the other from Washington. But everyone accepts that an overhaul of financial sector regulation is the unfinished business from last year's financial crisis, even though views differ on the extent and content of the changes needed. My own concerns are whether the world's piecemeal international governance system will enable a coherent global regulatory structure to emerge from the wreckage of last year's financial meltdown.

In Istanbul I'm looking forward to taking the temperature of the financial world. I hope and expect the meetings to be more subdued than in past years, because we have some serious business to do; and many players who were around at the Singapore meetings are no longer with us (Lehman, Bear Stearns, Merrill, AIG...).

It's a new world.