China: Friend or Foe How China's Next Wave of US Investments Will Shape Public Perception
Luncheon Presentation by Dominic Ng, Chairman & CEO, East West Bancorp, Inc.
China is the world's biggest foreign holder of US Treasuries, with a third of its $2.85 trillion foreign exchange reserves invested in US government debt. The market for US Treasuries is considered the world's most liquid and the US government is perceived as a credible borrower. Should China be worried about investing heavily in the greenback and US government debt? What are the comparable alternatives for investment? What is the direct and indirect impact of this increased Chinese investment on the US economy?
Dominic Ng is Chairman and Chief Executive Officer of East West Bancorp, Inc., the parent company of East West Bank—one of the largest independent commercial banks and the largest bank in the country focused on serving the Asian American community. East West Bank has over $20 billion in assets and more than 130 locations throughout the US and Greater China. Named by Forbes as one of the 25 most notable Chinese Americans, Mr. Ng successfully led East West Bank through the recent financial crisis in which it emerged as one of the strongest banks in the US. It was ranked second in the Forbes December 2010 list of the best banks in the country and among Fortune's ten best stocks for 2011. Mr. Ng graduated from the University of Houston.