Finance in China: Growing out of the plan?
Deputy Managing Director
The Bellwether Series 2011 brought together over 170 senior executives ranging from leading policymakers, banking executives and regulators, in each of the individual market in Asia-Pacific, China, Japan, Australia and South Korea, to debate on the future of finance in Asia-Pacific. Now in its third year, The Bellwether Series 2012 once again will return to these markets to examine critical opportunities and challenges in Asia-Pacific’s four key financial markets, including China on January 16th 2013.
The global financial crisis is still hobbling America and Europe. But it left a different legacy in Asia. It was a blow to the region’s economies, but a boost to the region’s pride. Asia’s financial systems proved remarkably resilient; its economic recovery admirably swift.
Many of Asia’s leaders, businesspeople and investors are confident of an “Asian century” ahead.
But there is a danger in triumphalism. Asia has its own vulnerabilities and challenges to overcome. Its diverse economies are variously threatened by liquidity traps and middle-income traps; the perils of inflation and deflation. Some need to increase consumption; others to revive investment. All seek to foster innovation and secure their niche in a more elaborate international division of labour.
Moreover, in many Asian countries, the economy has raced ahead of the financial system. The region’s share of global financial assets lags far behind its economic weight in the world, and its financial institutions sometimes struggle to keep up with more demanding savers and more ambitious firms.
The China edition of the Bellwether Series will examine the state of the financial system globally and in Asia—now, and over the long term. For China’s financial-services industry, what are the opportunities and risks in the shifting landscape, within and outside China? The China edition will take an intellectually rigorous, global and forward-looking perspective, engaging participants in an absorbing debate on China’s evolving financial system.
Dates of each Bellwether Series 2012 event:
Tokyo, Japan – May 16th 2012
Sydney, Australia – July 12th 2012
Seoul, South Korea – September 4th 2012
Beijing, China – January 16th 2013