Developing Asia: challenges and opportunities in the global economy
Europe in the global economy
Developing Asia remains the fastest growing region globally. Slowing external demand has hurt some economies in the region but as a whole Asia and the Pacific is on track for firm growth in 2014 and 2015. Presenting the update of the Asian Development Outlook 2014 (ADO 2014), Dr Wei will argue that moving forward structural reform processes in China, India, and Indonesia—the region’s three biggest economies—will be critical in shaping their growth outlook.
Dr. Wei will discuss the impact of the winding down of unconventional United States monetary policy on Asian financial markets. Although US policy could still surprise markets if higher growth than expected pushed the Federal Reserve toward an early interest rate increase, the effect on developing Asia would be modest next to the shock caused in 2013 by anticipated tightening. Finally, he will maintain that demand and benign international commodity prices will keep inflation moderate in developing Asia. As many economies in Asia have grown by connecting with global value chains, he will argue that strengthening them could further stimulate expansion of industry and services and create jobs.
The presentation will be followed by comments by Lucian Cernat and an open discussion chaired by Reinhilde Veugelers.
The event will be live streamed on this page.
- Dr. Shang-Jin Wei, Chief Economist, Asian Development Bank
- Lucian Cernat, Chief Economist and Head of Unit, European Commission, DG Trade
- Chair: Reinhilde Veugelers, Senior Fellow, Bruegel
About the speakers
Shang-Jin Wei is the Chief Economist of the Asian Development Bank (ADB). He is the chief spokesperson for ADB on economic and development trends, and leads the Economics and Research Department, which publishes ADB’s flagship knowledge products.
Mr. Wei, born in the People’s Republic of China and a national of the United States, has a long and distinguished career in academia and international finance and trade. Before joining ADB he was the N.T. Wang Chair and Director of the Chazen Institute of International Business at Columbia University, Director of the National Bureau of Economic Research’s working group on the Chinese economy, and a research fellow at the Center for Economic Policy Research (Europe).
Prior to Columbia University, Mr. Wei was an Assistant Director and Chief of Division at the International Monetary Fund (IMF) where he led the Fund’s policy research and advised on issues in international trade, investment, globalization, and related topics. He was IMF Chief of Mission to Myanmar in 2004.
Mr. Wei served as an advisor on anti-corruption policy and research at the World Bank from 1999 to 2000. He was an assistant and associate professor at Harvard University from 1992 to 1999.
Mr. Wei earned a PhD in Economics and a Master’s degree in Finance from the University of California, Berkeley; a Master’s degree in Economics from Pennsylvania State University; and a Bachelor’s degree in World Economy from Fudan University in the People’s Republic of China.
- Venue: Bruegel, Rue de la Charité 33, 1210 Brussels
- Time: Monday, 10 November 2014, 12.45-14.30
- Contact: Matilda Sevón, Events Manager – [email protected]