To begin the second day of our Washington D.C. Immersion course, we enjoyed a great presentation about the Export Import Bank of the United States (EXIM) by its Chief Banking Officer and Senior Vice President, Claudia Slacik. We learned that the main objective of the EXIM is to promote job creation in the United States by providing financial support to buyers of U.S. products–thus demand for labor would increase.

The EXIM does not usually make direct loans to the buyers; instead, it serves as an insurer to guarantee the repayment of the loan, and thereby local banks are willing to loan to the buyer. EXIM did an amazing job in that 164,000 jobs have been created during the last year, and we are looking forward to seeing the development of the secondary market that would increase EXIM’s liquidity.

We were given the chance to take a site visit and have a close look at the World Bank Group. It was an awesome speech that gave us an idea about what the World Bank has achieved and its primary objective—to eliminate poverty. We believe it is good to have a non-profit organization like the World Bank Group to help middle- and low-income countries.

We were also very lucky to have Mr. Jared Bernstein, former Chief Economic Advisor to Vice President Joe Biden, present an interesting talk. He shared his insights on economic and fiscal policy making in the Obama Administration, as well as trends in employment and earnings, international comparisons, and the analysis of financial markets. It was an intellectually enlightening conversation and we have learned a great deal throughout the day.

Guest bloogers: Miao Lin, Langjie Lu, Xinyi Huang (GMF 2015)

This is the second in a series of 10 blogs chronicling the experiences of 31 Global Master of Finance (GMF) dual degree students during their two week-long immersion courses in Washington, DC and New York. Each blog will be written by a small subset of students during their experience.