| In
the last few years, the emergence of China and India has been
keenly felt in the world economy, through its effects on production
and trade flows, commodity prices, services trade, and the
impact on financial markets of the massive buildup in official
foreign reserves. In particular, there has been considerable
debate and concern within the international community on the
need for Asia to take on greater responsibilities commensurate
with its growing economic weight. To a certain extent, it
has already begun to do so, as evidenced by China’s
and Malaysia’s recent adoption of more flexible exchange
rate regimes. But going forward, what changes would be necessary
in the international financial system to reflect Asia’s
growing economic weight and to encourage Asia to play a more
responsible role? |
|
This year, in conjunction with the
S2006 IMF-World Bank Meetings, the ESS had the honor of inviting,
for the first time, Mr Rodrigo de Rato y Figaredo, Managing
Director of the International Monetary Fund, to share his views
on the role of Asia in the World Economy at the Annual Dinner. |
Amongst the 650 guests who
attended were SM Goh Chok Tong, Spanish Ambassador Mr Francisco
Rabena, OCBC’s CEO Mr David Conner, DBS’s CEO
Mr Jackson Tai, MAS’s Managing Director Mr Heng Swee
Keat, Engro Corporation’s CEO Mr Tan Cheng Gay, Fortis
Bank’s Managing Director of Private Banking Mr Henrik
de Glint & JPMorgan’s Managing Director of Non-Japan
Asia Mr Ki Myung Hong.
Click here
to download Mr Rodrigo de Rato’s speech on “Asia
and the World Economy”. |
| For information on the 2006 MAS-ESS
Essay Competition Award Ceremony, click here.
|
