European and Asian Perspectives on Global Imbalances

(A conference organized by the Asia-Europe Economic Forum)

July 13-14, 2006, Beijing

Conference Agenda

9:00-9:30

Keynote Speech: Zhou Xiaochuan, Governor of People’s Bank of China

9:40-11:05

Session 1:  An Overview of the Issues

Chair: Yi Gang, Assistant Governor, PBOC

Paper: Yung Chul PARK, SNU (paper with B. Eichengreen)

Discussants:   FAN Gang, National Economy Research Institute / David VINES, Oxford University

Open Discussion

Lead floor discussants: Benoît COEURE, Agence France-Tresor / Fumio HOSHI, Japan Bank for International Cooperation

11:05-12:40

Session 2: The European Perspective

Chair: LI Ruogu, Chairman, The Export-Import Bank of China Former deputy governor，PBOC

Paper: Alan AHEARNE, BRUEGEL (paper with J. von Hagen)

Discussants: Jon CUNLIFFE, HM Treasury / In Jun KIM, SNU and Korea Investment Corporation

Open discussion：

Lead floor discussants: Dariusz ROSATI, Member of European Parliament / Shi Jianhuai, Beijing University

14:00-15:35

Session 3: The Asian Perspective

Chair: Caio KOCH-WESER, Vice Chairman, Deutsche Bank

Paper: YU Yongding, CASS

Discussants: Mitsuhiro FUKAO, President of Japan Center for Economic Research /        Dennis SNOWER, Kiel Institute for World Economics

Open discussion:

Lead floor discussants: Ku-Hyun JUNG, Samsung Economic Research Institute / HE Liping, Beijing Normal University

15:50-17:05

Session 4: Policy Challenges

Discussion of issues raised in previous sessions

Chair: André SAPIR, BRUEGEL

Presenters: LU Feng, Beijing University / Wolfgang MÜNCHAU, The Financial Times

/ Erik NIELSEN, Goldman Sachs /  Naoyuki YOSHINO, Keio University

Friday, July 14, 2006

9:30-10:45

Session 5: Initial wrap-up by the organisers

Summary of the workshop by the organisers

Chair: Myoung Ho SHIN, HSBC, Korea / Yung Chul PARK, Seoul National University / Jean PISANI-FERRY, BRUEGEL / TANG Xu, Department of Finance Research, PBOC / Naoyuki YOSHINO, Keio University

11:00-12:30

Session 6: Panel Discussion open to the public and the media

Panel discussion

Co-Chair: Mario MONTI, BRUEGEL

Zembei MIZOGUCHI, Japan Centre for International Finance

Discussants: Pervenche BERES, Chairwoman, EMAC, European Parliament / Lorenzo BINI SMAGHI, Member of the Board, ECB / Kiyoto IDO, Director General, International Bureau, Japanese MOF / Klaus REGLING, Director-General, ECFIN, EU Commission

12:30      Close

Organizers：

Institute of World Economics and Politics, CASS

Banking and Finance Research Institute, PBOC

BRUEGEL (Brussels European and Global Economic Laboratory)

Keio University, Japan

Seoul National University, Korea

Korean Institute for International Economic Policy

Coadjutant:

Sohu Business Channel