**Due to space restrictions, this event has reached capacity and we will no longer be taking RSVPs. Everyone is still welcome to attend but please plan to arrive early as seating is on a first come, first serve basis.**

Under the Hu-Wen leadership, China announced a shift in its development policy from a policy program that mainly emphasizes economic growth to one that pursues a “harmonious society.” The harmonious society program was a response to rapid increases in inequality during the 1990s, and its aim has been to ensure that the benefits from growth are widely shared.    

In recent years have the benefits from growth been widely shared? Has income inequality increased or decreased during the Hu-Wen era?

Drawing on recent findings from the China Household Income Project, a collaborative survey research project monitoring changes in incomes and inequality, Professor Terry Sicular will discuss recent trends in inequality and poverty in China. 

Terry Sicular is professor of economics at the University of Western Ontario. She received her doctorate at Yale and has taught at Stanford and Harvard. She is a specialist on the Chinese economy, speaks Mandarin, and has been studying and travelling to China for more than 30 years. Her recent research examines incomes and inequality in China, as well as related topics such as educational attainment and its intergenerational transmission, and the impact of housing reforms on household income and wealth. She has published widely in scholarly journals and books, and is as a contributor to and co-editor of Inequality and Public Policy, published by Cambridge University Press (2008). She has served as a consultant to international donor organizations, and is a leader in the ongoing, China Household Income Project, a collaborative research project that conducts a nationwide household survey and monitors trends in China’s incomes and inequality.

This event is part of the China's Looming Challenges series. 

The team of leaders who will take the helm in China beginning next year—the so-called “Fifth Generation”—will be better educated, have greater exposure to the outside world, and extensive experience implementing policies that have facilitated sustained economic growth and growing international influence. They may view issues somewhat differently than their predecessors but have risen to the top by going along to get ahead and are unlikely to propose radical policy initiatives.  But they must confront a growing number of challenges fueled by China’s past success and recent behavior and will be constrained by structural features of the Chinese system and integration into the global market.

Thomas Fingar is the Oksenberg-Rohlen Distinguished Fellow at the Freeman Spogli Institute for International Studies (FSI). In 2009, he was the Payne Distinguished Lecturer at FSI. From May 2005 through December 2008, he served as the first deputy director of national intelligence for analysis and, concurrently, as chairman of the National Intelligence Council.

This event is part of the China's Looming Challenges series. 

**Due to space restrictions, this event has reached capacity and we will no longer be taking RSVPs. Please plan to arrive early as seating is on a first come, first serve basis.**

Since 2008 China's banks have made loans that approach 30% of GDP each year. The central bank has used a broader measure of credit, total societal financing, that suggests credit extended in 2011 may exceed 40% of the country's GDP. It is inevitable that such profligate lending will result in significant amounts of problem loans.  The international market is well aware of this and Chinese bank shares have been hit hard for most of this year. How will these bad loans be managed? More importantly, why has the government once again used China's ostensibly commercial banks as if they were policy banks and what are the implications of this for China's economy going forward?

Carl E. Walter worked in China and its financial sector for the past 20 years and actively participated in many of the country’s financial reform efforts. While at Credit Suisse First Boston he played a major role in China’s groundbreaking first overseas IPO in 1992, as well as the first primary listing of a state-owned enterprise on the New York Stock Exchange in 1994. He was a member of senior management at China International Capital Corporation, China’s first and most successful joint venture investment bank where he supported a number of significant domestic and international stock and bond underwritings for major Chinese corporations. More recently at JPMorgan he was China Chief Operating Officer and Chief Executive Officer of its banking subsidiary. During this time Carl helped build a pioneering domestic security, risk and currency trading operation.

A long time resident of Beijing before his recent return to the United States, Carl is fluent in Mandarin and holds a PhD from Stanford University and a graduate certificate from Peking University. He is the co-author of Red Capitalism: the fragile financial foundations of China’s extraordinary rise as well as Privatizing China: inside China’s stock markets. 

This event is part of the China's Looming Challenges series. 

KSP's 2011–12 Koret Fellow, recently retired Korean senior career diplomat Ambassador Joon-woo Park, will discuss the U.S. role in current territorial disputes in East Asia. The disputes, which threaten peace and stability in the region and could result in conflict among major powers, have their origin in the incomplete settlement of the Pacific War overseen by the United States. Ambassador Park argues that the United States thus shares responsibility for the current situation. He will review the status of the major territorial disputes in East Asia and explain why the United States has a significant role to play in their peaceful resolution and in promoting cooperative and friendly relations among the countries of the region.

As a career diplomat, Ambassador Park served in numerous key posts, including those of ambassador to the EU and to Singapore and presidential advisor on foreign affairs. Park worked closely for over twenty years with Ban Ki-moon, the former Korean diplomat who is now the United Nations secretary-general.

Ambassador Park also served for seven years at the Korean embassies in Tokyo and Beijing. During his tenure as director general of the Korean foreign ministry’s Asian and Pacific Affairs Bureau, he handled sensitive, longstanding issues relating to regional history, such as the depiction of historical events in Japanese textbooks and the treatment of the history of the Goguryeo kingdom in China’s Northeast Project.

The Koret Fellowship has been made possible by the generous support of the Koret Foundation. The Fellowship’s purpose is to promote intellectual diversity and breadth in KSP by bringing leading professionals in Asia and the United States to Stanford to study U.S.-Korea relations. Fellows conduct their own research on the bilateral relationship, with an emphasis on contemporary relations, with the broad aim of fostering greater understanding and closer ties between the two countries.