Published on: 2017-04-12
Belt and Road: New World Order
Experts from China, Russia and Hong Kong agree that One Belt One Road will have major ramifications for countries around the globe, especially those in Eurasia and the Asia-Pacific, but differ on the Initiative’s ability to transform development in OBOR economies. The experts spoke at a forum held during China’s Belt and Road Summit in Beijing earlier this month, organized by the HKUST Institute for Emerging Market Studies (IEMS).
Prof. Justin Lin, former Chief Economist of the World Bank and current Director of the Center for New Structural Economics at Peking University, strikes an optimistic tone, pointing out that China can provide developing countries not just with financing but also with the technology and know-how that led to China’s own development success. Given rising wages in China, many Chinese firms are also poised to make investments that move labor-intensive production to OBOR countries.
Alexey Kalinin, Director of the Institute for Emerging Market Studies at the Moscow School of Management SKOLKOVO, takes a more balanced stance in describing the impact OBOR may have on countries in Central Asia and the Caucasus. He emphasizes that countries in the region are highly diverse politically, ranging from liberal democracies to stringent autocracies, and also economically, especially in terms of energy resources. Alexey recognizes that the Belt and Road Initiative provides tremendous opportunity, but warns that successful investments will require awareness of each local context.
“Who will pay for it?”, asks Prof. Alicia Garcia-Herrero, Chief Economist (Asia Pac.) at NATIXIS and HKUST IEMS Faculty Associate. The infrastructure needs of OBOR countries are so great, that they cannot possibly be financed adequately by China and the multilateral development banks. If the potential of OBOR is to be fully realized, much more progress needs to be made in devising new global financing arrangements that involve major commercial banks and public-private partnerships. Hong Kong banks could play a leading role, but only if they are proactive in responding to the opportunities of OBOR.
The “One Belt One Road: Global Perspectives” luncheon was co-sponsored by the Center for New Structural Economics at Peking University and Moscow School of Management SKOLKOVO.
Please note that Prof Lin did not use any presentation slides.
About the Event
During Beijing’s upcoming One Belt One Road Summit , the HKUST Institute for Emerging Market Studies will hold a luncheon panel discussion “One Belt One Road: Global Perspectives” on May 15 in Beijing, where 3 distinguished experts from China, Russia, and Hong Kong will offer different takes on the ambitious initiative and how it may transform development outcomes globally.
The event is jointly organized by HKUST IEMS, Moscow School of Management SKOLKOVO, and the Center for New Structural Economics at Peking University.
|Speakers and Topics|
|One Belt One Road: Opportunities for the Developing World
Prof Justin Lin, Director of Center of New Structural Economics at Peking University, HKUST Honorary Doctor of Social Sciences and former Professor of Economics, former Chief Economist and Senior Vice President of the World Bank (Bio)一带一路与发展中国家： 机遇无限
林毅夫教授 – 北京大学新结构经济学研究中心主任、香港科大社会科学荣誉博士及商学院前任经济学系教授、世界银行前任首席经济学家兼高级副行长
|One Belt, One Road and Central Asia: Partnership for Growth
Mr Alexey A. Kalinin, Director of SKOLKOVO Institute for Emerging Markets Studies (IEMS) (Bio)一带一路与中亚： 为增长而合作
Alexey A. Kalinin先生 – SKOLKOVO新兴市场研究所所长
|One Belt One Road: Impacts on Global Trade
Prof Alicia Garcia Herrero, Adjunct Professor of Economics at HKUST; Chief Economist for Asia Pacific at NATIXIS; Senior Fellow of BRUEGEL (Bio)一带一路：全球贸易的影响
Alicia Garcia Herrero教授 – 香港科大经济学兼任教授、法国投行Natixis亚洲区首席经济学家、布鲁盖尔高级学人
Prof Albert Park, Director of HKUST Institute for Emerging Market Studies, Chair Professor of Social Science, Professor of Economics (Bio)讨论环节主持朴之水教授 – 香港科大新兴市场研究所所长、香港科大社会科学讲座教授及经济学教授
|Grand Hyatt Beijing, 1 East Chang An Avenue, Beijing, China, 100738
|R.S.V.P. only : 5 May 2017 (Wednesday)
仅限RSVP : 5月3日 (周三)
|Email (电邮) email@example.com
Tel (电话) +852 3469 2215
Part of HKUST IEMS & IPP China Initiative
Find out more at http://iems.ust.hk/china
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