San Francisco, October 20, 2011 — Today, leading Chinese economist Cheng Siwei spoke at the Commonwealth Club of California on challenges to rebalancing China’s economy. During his speech, Mr. Cheng highlighted six key factors to improve China’s economy, including investing in domestic spending, and in what he termed the “fictitious economy,” of intangible tools, such as bonds and securities, rather than more tangible investments like factories. Ambassador Linda Tsao Yang, chairwoman of Asian Corporate Governance Association and trustee emeritus of The Asia Foundation, introduced Mr. Cheng. Gordon Hein, vice president of programs at The Asia Foundation, moderated the Q&A session.
Cheng Siwei is the recipient of The Asia Foundation’s Chang-Lin Tien Distinguished Visiting Fellow Award, an award that brings senior Asian leaders to the U.S. to share their perspectives and exchange views and information on issues of mutual concern. During his two-week trip in the U.S., he will travel to Silicon Valley to meet with William Perry, former secretary of defense, and Stanford University faculty and students. Mr. Cheng will also present at the Fletcher School of Law and Diplomacy at Tufts University, the World Affairs Council in Boston, Harvard University, and the Brookings Institution in Washington, D.C., among others. On October 25, he will join Arianna Huffington, Twitter co-founder Biz Stone, economist Niall Ferguson, George W. Bush, former U.S. senate majority leader Tom Daschle, journalist Katie Couric, and others as a featured speaker at the 2011 Global Financial Leadership Conference in Naples, Florida.
Read more about the Foundation’s programs in China.