CKGSB Associate Dean and Professor of Accounting and Finance Liu Jing delivered a presentation and participated in a panel discussion at the 2014 Dong-A International Finance Forum (DIFF).
The forum was hosted by one of Korea’s leading daily newspapers, Dong-A Ilbo and its subsidiary broadcasting channel, Channel A. Under the theme of “New Risk, New Finance”, many influential financial leaders in Korea as well as global economic leaders suggested the new role of capitalism to be redefined after the global economic recession.
<Source: Channel A>
During his presentation, Professor Liu forecasted China’s financial system over the next ten years with five key points: increasingly intense competition amongst the banks, further growth of the debt markets, increasing size of the stock market, enormous outbound investment and leveraging of the consumers’ balance sheets. He also highlighted that the coming transformation of the Chinese economic architecture will cause a sea change in how finance is conducted, which generates both risks and opportunities.
Professor Liu also participated in a panel discussion along with other global scholars including Robert Shiller, Professor of Yale University, Professor Kawai Masahiro from the University of Tokyo, Kunho Lee, CEO of Kookmin Bank and the Chair Person Kwangwoo Jun, Former Chairman of Financial Services Commission.
The panelists asserted that by creating a wide range of innovative financial products and by changing one’s perception and placing the customers first, we can eventually help finance further develop our society. Professor Liu commented that “care and protection for the vulnerable must be provided as well, and the fruits of economic growth should be equally paid off. If it turns into a ‘zero-sum’ game, the economically vulnerable may be the first ones to be damaged.” Robert Shiller, Professor of Yale University who served as a keynote speaker, emphasized the role of finance to create a better society. The view was largely endorsed by the rest of the thought leaders speaking at the forum.