Against the Consensus: Reflections on the Great Recession
Evening Presentation by Justin Lin, Former Chief Economist, World Bank & Honorary Dean, National School of Development, Peking University
Drinks at reception 6:30PM
Presentation at 7:00PM
Close at 8:00PM
Justin Lin was appointed Chief Economist of the World Bank, right before the eruption of the worst global financial and economic crisis since the Great Depression. Drawing on experience from his privileged position, Professor Lin offers unique reflections on the cause of the crisis, why it was so serious and widespread, and its likely evolution. Arguing that conventional theories provide inadequate solutions, he proposes new initiatives for achieving global stability and avoiding the recurrence of similar crises in the future. He suggests that the crisis and the global imbalances both originated with the excess liquidity created by US financial deregulation and loose monetary policy, and recommends the creation of a global Marshall Plan and a new supranational global reserve currency.
Professor Justin Lin is Honorary Dean of the National School of Development at Peking University. He was Senior Vice President and Chief Economist of the World Bank between 2008 and 2012. Prior to joining the Bank, he served for 15 years as Founding Director and Professor of the China Centre for Economic Research at Peking University. He is a Standing Committee member and Vice Chairman of Economic Council, Chinese People’s Political Consultative Conference. Professor Lin has served on several national and international bodies including the Eminent Persons Group of the Asian Development Bank, the National Committee on US-China Relations, the Global Agenda Council on the International Monetary System and the Reinventing Bretton Woods Committee.