Writing 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 firstname.lastname@example.org or call +852 5512 9714.
Alex Hickman (Chartwell’s CEO) and Raleigh Addington (Chartwell’s Asia Pacific MD) are back from a marketing trip to Tokyo (just missing the Cherry Blossom!). They met with a number of existing clients including UBS, JP Morgan and Schroders, and also the British Embassy who have linked Chartwell with some new, exciting opportunities in the Japanese market. Raleigh is already planning his next trip there.
Chartwell also met with many high profile speakers, who are frequently called upon to offer thought-provoking analyses of the world’s third largest economy, and where it is heading. Featured below are just a few of the great Japanese speakers now included on Chartwell’s ever-growing roster:
- Clay Chandler – Asia Editor for Fortune (2001-08) and McKinsey & Company (2008-13), and a leading analyst of Asia’s key economies.
- Ichiro Fujisaki – Japan’s Ambassador to the USA (2008-12), who provides fascinating insight into Japanese foreign policy.
- Takuji Okubo – Chief Economist (Tokyo) for Société Générale (2010-12), and a leading Japanese economist who argues that Japan is heading towards a collapse in 2017.
- Eisuke Sakakibara – Japan’s Vice Minister of Finance (1997-99), during which time he earned the nickname “Mr. Yen” for his influence over currency markets.
- Heizo Takenaka – Minister for Financial Services, Economic and Fiscal Policy in Japan (2001-05), and a specialist on the Japanese economy and political landscape.
Raleigh is based in Hong Kong and will be in travelling Singapore, Seoul, Shanghai and Beijing in the coming weeks. He’d be delighted to tell you more about the thought leadership from the area, and help you plan for your next event: e-mail him at email@example.com or give him a call on +852 5512 9714.
Merryn Somerset Webb‘s column in MoneyWeek endorses the growing view that the US is prepared to be supportive of just about anything that gets Japan’s economy back on its feet – and that Japan’s latest efforts to get its economy back on track look like they might just work. You can read Merryn’s piece in full here.
To book Merryn as a speaker, please contact our Managing Partner, Leo von Bülow-Quirk, at firstname.lastname@example.org or on 0044 (0) 20 7792 8000.