Thursday 25 March 2010
There will be a number of associated events on the Thursday preceding the forum, which will include events by LSE Careers and LSE Recruitment and the following:
18.00 - 19.30 LSE Alumni Reception (details to follow)
Friday 26 March 2010
07.00 - 08.00 Registration
08.00 - 08.15 Welcome and Introduction
08.15 – 08.35 Keynote Speech
His Excellency Mr Yang Jiechi, Foreign Minister of People's Republic of China
08.35 - 09.30 Networking Breakfast Reception
09.30 – 10.40 Plenary session: The future role of financial markets in creating affluence
Speaker: Howard Davies, Director, LSE
Respondent: Liu Mingkang, Chairman, China Banking Regulatory Commission
Respondent: Stephen Roach, Chairman, Morgan Stanley Asia
After many years in which it was assumed that liberalized financial markets would necessary contribute to economic growth and wealth creation, the financial crisis has challenged the basis of this assumption. Deregulation, excess leverage and financial innovation came together in a dangerous cocktail which led to a meltdown in Western markets, with huge economic and welfare costs. Many now therefore question the economic and social value of much financial activity, especially in traded securities markets. They also question the existence of "too big to fail" banks with implicit or explicit government guarantees. There are now powerful arguments being advanced in favour of rethinking the relationship between the state and financial markets. How far will this rethinking go? And what are the implications for emerging market countries, and especially for China, who have been following a reform path in recent years which was leading to more liberalized and competitive markets?
10.40 - 11.00 Q&A Session
11.00 - 11.30 Coffee Break
11.30 - 12.25 Plenary session: China: An Emerging Diplomatic Superpower?
Speaker: Professor Odd Arne Westad, Professor of International History, LSE
Respondent: Professor Wang Jisi, Professor and Dean of the School of International Studies, Peking University
Chair: Michael Yahuda, Professor Emeritus, London School of Economics and Political Science, Visiting Scholar, Sigur Center of Asian Studies, Elliott School for International Affairs, George Washington University
China's rise to prominence in international affairs is the big story of the past two decades. How China behaves as a Great Power will determine what the global political system will look like for generations to come. Some analysts claim that China's rise will lead to instability because it will seek to replace the United States as the dominant power in world affairs. Others see China increasingly as a stake-holder in the international system that the United States (and Britain before it) has constructed. They see China as basically cooperative with the United States, simply because it is in China's own interest to be so.
But what happens when China has risen? Even if those who emphasize Beijing's cooperative attitude today are right, will this approach continue to inform Chinese diplomacy when China equals the United States in wealth and power? And, in the interim period, what will determine China's foreign policy outlook? Economic affairs? Regional conflicts in Asia? Reunification with Taiwan? China's growing military strength? There are many variables to consider, and some of them could lead to conflict rather than cooperation.
My lecture at the LSE Asia Forum will discuss the options that China today has in international affairs. I will emphasize the constraints on Chinese power and the uncertainties that exist, even within China, over what the country's foreign affairs aims ought to be. But I will also stress the potential that is there for China's rise to be peaceful, if the country's leaders are willing to match great power with a sense of great responsibility, especially in avoiding conflicts within its own region that would threaten not only China's development, but also international peace.
12.25 – 12.45 Q&A Session
12.45 – 14.00 Lunch keynote address from Madam Hu Xiaolian, Deputy Governor, The People's Bank of China
14.00 – 14.55 Plenary session: Climate change and economic growth
Speaker: Professor Lord Nicholas Stern of Brentford, Chair of the Grantham Research Institute on Climate Change and the Environment, LSE
Respondent: Vice Minister Liu He, Office of the Central Leading Group on Financial and Economic Affairs
Chair: Zhu Min, Deputy Governor, The People's Bank of China
The transition to a low-carbon economy could foster decades of sustainable growth, particularly in Asia, and unleash the greatest period of creativity and innovation in economic history. Those countries that lead the transition will be best placed to take advantage of the new markets that emerge for low-carbon and energy-efficient technologies.
Indeed, a low-carbon economy is the only sustainable route to growth; any attempt at high-carbon growth will choke and die, not only due to high prices of hydrocarbons, but also, more fundamentally, due to the very hostile physical environment it will create. Many countries in Asia will be particularly exposed and vulnerable to the impacts of climate change, which if unchecked, could redraw the geography of the planet over the coming decades, affecting the lives of billions of people across Asia and the rest of the world, and resulting in the migration of hundreds of millions and severe and extended conflict.
While the outcome of the Copenhagen meeting was disappointing in many respects, the Copenhagen Accord, which was put forward by five major nations including China and India, provides a platform for reaching a strong international agreement this year that would create a global policy framework for low-carbon growth across the world.
14.55 – 15.15 Q&A Session
15.15-15.30 Comfort Break
15.30 – 16.25 Plenary session: Health care: trust, mistrust, voice or choice?
Speaker: Professor Julian Le Grand, Richard Titmuss Professor of Social Policy, LSE
Respondent: Henk Bekedam, Director of Division of Health Sector Development, The World Health Organization
Chair: Professor Hu Yonghua, Dean and Professor of the School of Public Health at Peking University
Can we trust professionals (doctors, nurses, hospital managers) to deliver high quality health care? Or should we put our faith in governmentcontrol instead? Should we trust NGOs or private companies? Can we rely upon the voice of the citizen to keep professionals, governments, NGOs or companies in line? Or should we rely upon the choices of the consumer in the market placeas the best way to deliver a qualityservice? This lecture will attempt to answer some of these questions, relating them to the Chinese context, and drawing on the lecturer's own research and his experience working as a senior adviser on public service reform to UK Prime Minister Tony Blair. It will argue that, in most situations, relying upon market incentives is best, but that the policies concerned have to be accompanied by government funding and be carefully designed.
16.25 – 16.45 Q&A Session
16.45 – 17.00 Closing Remarks
Please note timings and sessions subject to change.