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Shirakawa: Lessons from the Global Financial Crisis: Asian and Global Perspectives
It is an honor to be a part of this esteemed panel. With the hope of stimulating further debate, I would like to discuss three lessons from the global financial crisis and the resulting challenges they present. First, in this globally interconnected world, nothing is purely regional anymore. A global perspective is crucial. When the euro area crisis was initially brewing a couple of years back, there was reluctance from our European colleagues to discuss it as an issue with global implications. The euro area economy was recovering and it was argued that the current account of the euro area as a whole was balanced and ... (full story)
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