Motoshige Itoh, Professor, Graduate School of Economics, University of Tokyo. He has served as President of the National Institute for Research Advancement since February 2006, and held the post of Dean at the Gradual School of Economics from 2007 to 2009. He was professor of the Graduate School of Economics and the Faculty of Economics since 1993, and Assistant Professor in Economics since 1982. He has served in various government committees, including the Ministry of International Trade and Industry, Ministry of Finance, Economic Planning Agency, Fair Trade Commission, and others and was a member of Economic Strategy Council in 1998-1999. He has been an advisor to the Statistical Division at the Bank of Japan, and a visiting scholar at various institutions, including the Department of Economics at Harvard University, the Australia-Japan Research Centre, Australian National University, and Research Institute at the Bank of Japan. He has published numerous books and papers on Japan’s economy and finance. He received his BA from Tokyo University and PhD from University of Rochester, both in Economics.

Hideaki Miyajima, Director, Waseda Institute for Advanced Study(WIAS), Professor of Japanese Economy, Graduate School of Commerce, Waseda University. He teaches Japanese Economy, and Corporate Governance in Japan.  He stayed at Reischauer Institute of Japanese Studies, Harvard University as a visiting scholar for 1992-94 and 2004-05. He was asked to consult by several institutions such as the World Bank, Hawaii University, Hebrew University, and Korean Development Institute. He was also appointed to numerous positions: Faculty Fellow, Research Institute of Economy, Trade & Industry, a Special Research Fellow of Policy Research Institute (Ministry of Finance), Research Fellow of EHESS (Paris), and an Adjunct Professor of Chung-Ang University (Seoul). He wrote several books and numerous papers including: Corporate Governance in Japan, Oxford University Press, 2007 (co-edited), Changes and Continuity in Japan, Curzon Press, 2002 (co-edited), Policies for Competitiveness, Oxford University Press, 1999 (co-edited), He received his Ph.D in Economics from the University of Tokyo.

Takeo Hoshi, Henri and Tomoye Takahashi Senior Fellow at the Walter H. Shorenstein Asia-Pacific Research Center at Stanford University, and professor of finance (by courtesy), Stanford Graduate School of Business. Prior to joining S/APARC, he was Pacific Economic Cooperation Professor in International Economic Relations at the Graduate School of International Relations and Pacific Studies (IR/PS) at the University of California, San Diego (UCSD). Hoshi also serves on the Board of Directors at Union BanCal Corporation. He is also a research associate at the National Bureau of Economic Research (NBER) and at the Tokyo Center for Economic Research (TCER). His main research interests include the study of the financial aspects of the Japanese economy, especially corporate finance, banking, and monetary policy. He received numerous awards for his publications including Corporate Financing and Governance in Japan: The Road to the Future (MIT Press, 2001), co-authored with Anil Kashyap (Graduate School of Business, University of Chicago), and his other publications include, “Japanese Government Debt and Sustainability of Fiscal Policy” (with Takero Doi and Tatsuyoshi Okimoto), Journal of the Japanese and International Economies,2011; “Corporate Restructuring in Japan during the Lost Decade” (with Satoshi Koibuchi and Ulrike Schaede), Japan’s Bubble, Deflation, and Long-term Stagnation, MIT Press, 2011 (Koichi Hamada, Anil K Kashyap, and David E. Weinstein, eds.) He has been the editor-in-chief of the Journal of the Japanese and International Economies since 1999. Hoshi received his BA in social sciences from the University of Tokyo in 1983, and a PhD in economics from the Massachusetts Institute of Technology in 1988.

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In China Goes Global, eminent China scholar David Shambaugh delivers the book many have been waiting for—a sweeping account of China's growing prominence on the international stage. Thirty years ago, China's role in global affairs beyond its immediate
East Asian periphery was decidedly minor and it had little geostrategic power. As Shambaugh charts, though, China's expanding economic power has allowed it to extend its reach virtually everywhere—from mineral mines in Africa, to currency markets in the West, to oilfields in the Middle East, to agribusiness in Latin America, to the factories of East Asia. Shambaugh offers an enlightening look into the manifestations of China's global presence: its extensive commercial footprint, its growing military power, its increasing cultural influence or "soft power," its diplomatic activity, and its new prominence in global governance institutions. But Shambaugh is no alarmist. In this balanced and well-researched volume, he argues that China's global presence is more broad than deep and that China still lacks the influence befitting a major world power—what he terms a "partial power."

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David Shambaugh is professor of political science and international affairs and director of the China Policy Program at George Washington University, as well as a nonresident senior fellow in the Foreign Policy Studies Program at the Brookings Institution in Washington, D.C. His most recent books include Tangled Titans: The United States and China; Charting China's Future: Domestic & International Challenges; and China's Communist Party: Atrophy & Adaptation.

 

**Books will be available for purchase at the talk.**

Will China’s new leadership push through new financial reforms? The private sector is growing rapidly but private firms complain about their inability to get loans.  Reforms undertaken over the past 20 years have brought change, but much remains to be done. There are now many non-governmental banks and financial institutions operating in China, including foreign firms. But how effectively can they operate?   How open is China’s financial system to the non-governmental banks and to foreign participation? Are the challenges different for foreign firms?  How might foreign firms best cooperate with local firms as Chinese firms increasingly globalize?  Two bankers, James Chen, head of Hollyhigh International Capital, the first investment banking firm specializing in mergers and acquisitions (M&As) in Mainland China, and Carl Walter, recently retired Managing Director, JPMorgan Chase, China, will assess the changes in China’s financial realm. 

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James (Mingjian) Chen is the chairman of Hollyhigh International Capital, the first investment banking firm specializing in mergers and acquisitions (M&As) in Mainland China. He is also an adviser of the Beijing Olympics organization. Chen is a member of the liaison committee in the China National Democratic Construction Association, the chairman of the M&A Elite Club, as well as a member of the Fuping Foundation for poverty alleviation. He also serves as the chief editor of the China M&A Review, and has published Winning the Deal and M&A Revolution.

Chen graduated from Tsinghua University’s Department of Economics and Management in 1993. After graduation, he worked as a trader at China Great Wall Financial Company for several years. He then established Tsinghua Unisplendour and Hollyhigh Investment Company, in 1997 and in 1998 respectively. In addition to his work at Hollyhigh, Chen is actively engaged in M&A projects for international corporations, such as Lafarge, Shell, SK, and Scottish & Newcastle.

Chen’s deal between Teda and the Meilun Group was used as the first M&A case study at Tsinghua University. He has lectured at many renowned institutions, including Harvard University and the Economist Intelligence Unit.

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 Walter 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, Walter 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.

For years former diplomat and academic Kishore Mahbubani has closely studied the changing relationship between Asia and the United States and its consequences in works like Can Asians Think? and The New Asian Hemisphere. In The Great Convergence, his new book, he assesses East and West at a remarkable turning point in world history and reaches an incredible conclusion.

China stands poised to become the world’s largest economy as soon as 2016. Unprecedented numbers of the world’s population, driven by Asian economic growth, are being lifted out of poverty and into the middle class. And with this creation of a world-wide middle class, there is an unprecedented convergence of interests and perceptions, cultures and values: a truly global civilization.  

A full 88% of the world’s population lives outside the West and is rising to Western living standards, and sharing Western aspirations. But while the world changes, our way of managing it has not and it must evolve. The Great Convergence outlines new policies and approaches that will be necessary to govern in an increasingly interconnected and complex environment. Multilateral institutions and world-wide governing organizations must be strengthened. National interests must be balanced against global interests. The United States and Europe must share power and China, India, Africa and the Islamic world must be integrated. And the world’s increasing consumption must be balanced against environmental sustainability.

About the Speaker

From 1971 to 2004 Kishore Mahbubani served in the Singapore Foreign Ministry, where he was Permanent Secretary from 1993 to 1998, served twice as Singapore’s Ambassador to the United Nations (UN), and in January 2001 and May 2002 served as President of the UN Security Council.

Mahbubani is the author of Can Asians Think?, Beyond the Age of Innocence: Rebuilding Trust Between America and the World, and The New Asian Hemisphere: the Irresistible Shift of Global Power to the East.

Foreign Policy and Prospect magazines have listed him as one of the top 100 public intellectuals in the world, and in 2009 the Financial Times included him on their list of Top 50 individuals who would shape the debate on the future of capitalism. In 2010 and 2011 he was selected as one of Foreign Policy’s Top Global Thinkers.

The world has undergone major drastic changes in the last two decades driven by several major factors, eg, explosion of human population and connectivity. Such changes seem further accelerated in recent years and it seems that our future becomes more uncertain and unpredictable. The Fukushima Nuclear Accident awakened us and led to creation of Independent Investigation Commission by the National Diet of Japan; The Commission Report revealed some of the fundamental issues of Japan’s nuclear policy. Meanwhile, multi-stakeholders’ engagement has become critical in various social affairs and in policy making domains within and across national boundaries, and has contributed in significant ways to affect the processes of addressing and impacting global agenda, such as climate change, food and water, energy, urbanization, biodiversity, human capital with shifting the balance of economy and power. In my view, the principles of our society may be changing quite fast heading somewhat differently from our conventional norm. The science community can and should contribute to these issues in nurturing future leaders, but in what way?

Kiyoshi Kurokawa is a graduate of University of Tokyo School of Medicine, trained in internal medicine and nephrology, in US 1969-84; Professor of Med, Dept Med ofUCLA Sch Med (79-84), Chair, Univ Tokyo Faculty of Med (89-96), Dean of Tokai Univ School of Med (96-02, President of Science Council of Japan (03-07), Science Advisor to Prime Minister (07-09), Board member of A*STAR (06-00), Bibliotheca Alexandria (04-08), Khalifa University (08- ), Okinawa Institute of Science and Tech (06- ), Global Science and Innovation Advisory Board of the Prime Minister of Malaysia (11-); President of Intl Soc Nephrology (97-99), Inst of Medicine of US Academies (92). Recently, chaired Fukushima Nuclear Accident Independent Investigation Commission by the National Diet of Japan (Dec 11-July 12). AAAS Scientific Freedom and Responsibility Award (2012), ‘100 Top Global Thinkers 2012” of Foreign Policy.