Six Myths That Hold Back America – And What America Can Learn from the Growth of China’s Economy
Luncheon Presentation by FRANK NEWMAN, Former Deputy U.S. Treasury Secretary and Former Chairman & CEO, Shenzhen Development Bank, China
What misconceptions influence the U.S. economy, and how do they relate to the Chinese economy? What fundamental approaches have led to success in turning around a Chinese bank? How do government financing and the banking systems differ between the U.S., China, and Europe, and what are the future challenges that they will face? What implications will the second round of quantitative easing have for different banking systems? These and other topics will be addressed by Frank Newman, who will draw upon his experience as a former senior U.S. Treasury official, and as chairman of leading banks in the U.S. and China. The discussion will include highlights from his recently published book, Six Myths That Hold Back America – And What America Can Learn from the Growth of China’s Economy.
Newman currently serves as Chairman - China of Promontory Financial Group. He recently completed five years as Chairman of the Board and CEO of Shenzhen Development Bank in China, where he led the team that turned the bank around. Previously, he was Chairman and CEO of Bankers Trust in New York. In the 1990s, Newman served as Deputy Secretary of the U.S. Treasury. He went on to be awarded the Alexander Hamilton Award, the department's highest honor. Prior to government service, Newman also served as Vice Chairman of the Board and CFO of BankAmerica Corporation, and Executive Vice President and CFO of Wells Fargo Bank. Newman graduated from Harvard University with a BA in economics.