Portland State University's Center for Japanese Studies, Department of Economics, Institute for Asian Studies and Master of International Management present -
The Growing Role of Asia in the Economy: Challenges and Opportunities lecture
Rapid economic growth and modernization in Asia has had powerful effects in reducing poverty and raising standards of living more generally. It also poses great challenges, however, both for Asia and the global economy more generally. Popular discussions of the rapid economic rise of China and India have tended to focus more on fears of economic competition and shifting global power structures than the global benefits. Along with the Asian currency and financial crisis, the growing importance of China has spurred greatly increased interest in various forms of Asian economic and monetary cooperation.
Resentment of perceived failures of the International Monetary Fund and the US government to play a more positive role in helping to deal with the crisis, led initial Asian interest in monetary cooperation to have a strong anti-western focus. Over time, less antagonistic motivations have developed, with considerable interest being expressed in flowing Europe's path to monetary union. Both political and economic configurations are quite different in Asia than in Europe, however, so there are limits to the usefulness of European interpretation as a model.
How these developments play out will likely have strong implications for the global economy including the United States. And how the US responds to these emerging trends such as the huge trade imbalance will in turn have a major influence on whether we follow optimistic scenarios bringing greater prosperity or a repeat of the global financial crisis and economic warfare that accompanied the Great Depression of the 1930s.
This lecture will present an overview on these emerging trends and discuss the challenges of keeping them on a path that provides mutual benefits rather than conflict. Light refreshments and snacks will be served.
When: Thursday, May 18 @ 6:00 p.m.
Where: Smith Memorial Student Union room 228, Multicultural Center, 1825 SW Broadway (PSU)
Lecture by Tom Willett
Thomas D. Willett is a former Director of International Research at the U.S. Treasury and is currently the Horton Professor of Economics and Co-Director of the Freeman Foundation Program in Asian Political Economy at the Claremont Colleges.
*This event is free and open to PSU students, faculty and the community*
Brought to you with the support of Japan-America Society of Oregon.