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Prominent economist Koichi Hamada advises Japan “not to join China’s new investment bank”

Koichi Hamada speakerWriting in Project Syndicate, Koichi Hamada, Special Economic Adviser to Japanese Prime Minister Shinzo Abe, has advised Japan “not to join China’s new investment bank until its structure and rules are clearer.”

Professor Hamanda notes that economic integration is currently a hot topic in the region, as Asia becomes more interconnected than ever. He sees why some observers may find the notion of increased monetary integration – even the establishment of a fixed exchange-rate regime – highly appealing, but argues “that the flexible exchange rates that prevail today remain Asia’s best bet for boosting prosperity and protecting it from shocks.”

“Another strong reason why Japan should wait,” Professor Hamanda writes, “is for macroeconomic stability.” He demonstrates how misallocation of capital and poor investment decisions in China can raise serious risks, which may spread to China’s neighbours and raise the danger of another large-scale international crisis.

He warns that “beyond the fact that China will be in charge, almost nothing is known about the bank or its financing rules. Given this, it seems logical for countries like Japan to wait and see before deciding whether to join the AIIB.”

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For more information, or to book Koichi Hamada as a speaker for your conference or event, please contact Raleigh Addington at raleigh@chartwellspeakers.com or call +852 5512 9714.

“UK’s joining of AIIB marks critical shift in global financial order” claims Asia expert Martin Jacques

Martin Jacques speakerIn an article for the Global Times, Martin Jacques, one of the world’s leading commentators on the rise of Asia, has argued that the “UK’s joining of AIIB marks critical shift in global financial order.”

By ignoring pressure from America not to join, Martin claims that Britain’s decision to join went entirely against the grain. He believes that “Britain wanted to show China and the world how serious it now was about its relationship with China,” because the country will prove “a potential source of much-needed investment.”

Martin says that this is exactly the opposite of what the US wants – a rival not only to the Asia Development Bank, but in some respects the World Bank itself. He adds that “if the US refuses to join Chinese-inspired institutions like the AIIB, the more isolated it will find itself.”

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For more information on how to book Martin Jacques as a keynote speaker for your conference or event, please contact Leo von Bülow-Quirk at leo@chartwellspeakers.com or call 0044 (0) 20 7792 8000.

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