Lecture
Q&A
There are many lessons we can learn from the Global Financial Crises, but whether the medicine applied works for the patients and non-patients will be debated for years to come. This lecture tries to analyse the lessons from an Asian perspective, since Asia was less directly affected by the financial crises, but Asian responses may have led to risks that were unintended. The biggest risk to policymakers is that they are looking at 21st century problems and challenges with 20th century glasses. Having a hard-nosed, back to basics, understanding of the issues facing Asia is critical to prevention of the next Asian financial crisis. This needs to get out of the current linear, partial and Western-centric lenses to focus on the real systemic issues of demographics, urbanisation, changes in lifestyle, technology disruption, climate change and geopolitics, including retooling of the bureaucratic/institutional structures to respond to such threats and opportunities.