6 INFLATION AND THE COST OF THE COVID STIMULUS After staying subdued for three decades, will the post-pandemic cost of reviving economies release the inflation genie from the bottle?
8 HEIRS OF LAC LONG QUAN Having weathered Covid-19, Vietnam’s economy is set to capitalise as it continues to drive foreign direct investment and export growth
12 ON THE RIGHT TRACK Jeremy Hamon, Head of Group Finance and CFO for the steel engineering firm Primetals Technologies Treasury, outlines his ESG- aligned treasury model
20 REGULATION AND SPLINTERNET Regulators are ramping up their focus on cyberspace and its participants as the splintering of the internet moves closer to reality
22 ALL-IN FOR EUROPE To achieve its economic potential, should Europe move away from its ‘taking part is everything’ stance and compete to win?
“I always try to pioneer as much as possible to get the development that centralised treasury departments need”
Jeremy Hamon, Head of Group Finance and CFO at Primetals Technologies Treasury 12
flow is published by Deutsche Bank Corporate Bank
Marketing: Christoph Woermann Editorial: Clarissa Dann Janet Du Chenne
Graham Buck (Deutsche Bank) William Monroe (Wardour)
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Cover photography: Joseph Krpelan
30 BEYOND THE GREENWASH Rebecca Harding argues that more must be done to address the root causes of unsustainable trading activities
34 NET ZERO IN THE NORTH SEA
ESG-aligned commodity finance is playing a vital role as oil exploration and production companies strive for sustainability
38 TAIWAN’S GREEN ENERGY REVOLUTION How syndicated export credit agency financing deals are driving Taiwan’s renewable energy growth story
44 BIG PICTURE: GLOBAL SUPPLY CHAINS
Suez Canal case study: the Ever Given incident of March 2021 highlights the fragility of global trade supply routes
46 TREASURY TRANSMISSION Matthias John, Treasurer at automotive component manufacturer ElringKlinger, on driving treasury system change
50 CENTRAL BANK DIGITAL CURRENCIES: THE GAME CHANGERS Mass adoption of cryptocurrencies remains unlikely, as central bank digital currencies begin to gain traction
56 REIMAGINING THE FUTURE OF PAYMENTS A payments revolution, accelerated by Covid-19, is upon us. Helen Sanders explores the solutions and responses in this brave new world
60 FX WORKFLOW AUTOMATION: AN EXPECTED JOURNEY Colin Lambert reports on how pandemic disruption has impacted
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