Background

Dr. Andrew Sheng, a Chartered Accountant by training, is currently the Chief Adviser to the China Banking Regulatory Commission and a Board Member of the Qatar Financial Centre Regulatory Authority, Sime Darby Berhad and Khazanah Nasional Berhad, Malaysia. He is also Adjunct Professor at the Graduate School of Economics and Management, Tsinghua University, Beijing and the University of Malaya, Kuala Lumpur.

Dr. Sheng was Chairman of the Securities and Futures Commission (SFC) of Hong Kong from 1 October 1998 to 30 September 2005. Between October 1993 and September 1998, Andrew was the Deputy Chief Executive responsible for the Reserves Management and External Affairs Departments at the Hong Kong Monetary Authority. Between 1989 and 1993, he was Senior Manager, Financial Sector Development Department at the World Bank. From 1976 to 1989, he held various positions with Bank Negara Malaysia, including Chief Economist and Assistant Governor in charge of Bank and Insurance Regulations.

In this seminar he will look into the linkages between the Asian Crisis of 1997/98 and the current crisis, as well as dissecting the crisis into its network, balance sheet and incentive perspectives. The macro and micro linkages will be examined. The conclusion is that Asia cannot follow the Wall Street model of financial development, which is inherently unstable.

Participants

ADBI Staff and General Public