The global financial crisis: policy choices in Asia and Europe Conference
AEEF Conference, Beijing, 8-10 December 2008
The second conference of the Asia Europe Economic Forum(AEEF), hosted by the Chinese Academy of Social Sciences with the support of the People‘s Bank of China, gathered more than 20 high-ranking scholars and experts, senior policymakers and business executives from East Asia and Europe to exchange views about the causes of the crisis, its current and future consequences in the different national economies, and the necessary action for tomorrow at the global, regional and national levels.
The financial crisis is not just a US problem that has spread around the world. The crisis has exposed flaws in a global system in which Asia has imitated and participated in some of the bad practices of US banks, while Europe has provided large flows of cheap capital that contributed to creating a credit bubble and the production of assets of dubious quality.
Contributions
Global financial crisis, China‘s macroeconomic situation and policy responses presentation Presentation by Yu Yongding, Institute of World Economics and Politics, CASS.
Europe and the financial crisis Contribution by Dennis J. Snower
Comments on Kawai et al paper Presentation by Shinji Takagi
The financial crisis and global imbalances:Two sides of the same coin and policy responses Speech by Lorenzo Bini Smaghi, member of the Executive Board, European Central Bank