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    Tan Sri Andrew Sheng Keynote Address at UNIRAZAK - Press Release

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    khalisha
    Tan Sri Andrew Sheng delivered a keynote address at Universiti Tun Abdul Razak (UNIRAZAK) titled "The Future of Asian Finance". He discussed the opportunities and challenges facing Asia's development as an economic powerhouse. While Asia has great potential, success is not guaranteed and it faces risks of falling into a "middle-income trap". Tan Sri Andrew outlined Asia's current state in financial markets compared to other regions and noted areas that need growth. Issues like population growth, urbanization, governance, technology, environment and climate change must also be addressed for Asia to become a true financial leader.

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    Tan Sri Andrew Sheng Keynote Address at UNIRAZAK - Press Release

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    khalisha
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    Tan Sri Andrew Sheng delivered a keynote address at Universiti Tun Abdul Razak (UNIRAZAK) titled "The Future of Asian Finance". He discussed the opportunities and challenges facing Asia's development as an economic powerhouse. While Asia has great potential, success is not guaranteed and it faces risks of falling into a "middle-income trap". Tan Sri Andrew outlined Asia's current state in financial markets compared to other regions and noted areas that need growth. Issues like population growth, urbanization, governance, technology, environment and climate change must also be addressed for Asia to become a true financial leader.

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    Tan Sri Andrew Sheng delivered a keynote address at Universiti Tun Abdul Razak (UNIRAZAK) titled "The Future of Asian Finance". He discussed the opportunities and challenges facing Asia's development as an economic powerhouse. While Asia has great potential, success is not guaranteed and it faces risks of falling into a "middle-income trap". Tan Sri Andrew outlined Asia's current state in financial markets compared to other regions and noted areas that need growth. Issues like population growth, urbanization, governance, technology, environment and climate change must also be addressed for Asia to become a true financial leader.

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    Download as docx, pdf, or txt
    38 views2 pages

    Tan Sri Andrew Sheng Keynote Address at UNIRAZAK - Press Release

    Uploaded by

    khalisha
    Tan Sri Andrew Sheng delivered a keynote address at Universiti Tun Abdul Razak (UNIRAZAK) titled "The Future of Asian Finance". He discussed the opportunities and challenges facing Asia's development as an economic powerhouse. While Asia has great potential, success is not guaranteed and it faces risks of falling into a "middle-income trap". Tan Sri Andrew outlined Asia's current state in financial markets compared to other regions and noted areas that need growth. Issues like population growth, urbanization, governance, technology, environment and climate change must also be addressed for Asia to become a true financial leader.

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    TAN SRI ANDREW SHENG DELIVERS KEYNOTE ADDRESS THE FUTURE OF ASIAN FINANCE AT UNIRAZAK

    14 June 2011 Universiti Tun Abdul Razak (UNIRAZAK), one of Malaysias leading private universities in innovation, leadership and entrepreneurship, recently featured a keynote address by one of its Pro Chancellors, YBhg. Tan Sri Andrew Sheng. The keynote was titled The Future of Asian Finance and delivered on 14 June before over 40 delegates from 5 of UNIRAZAKs international partner universities and academic staff. YBhg Tan Sri Andrews 1 hour keynote addressed the key opportunities, challenges, and issues facing the Asian region as it strives to become an economic powerhouse that is equal to or even surpasses Europe and North America. Although Asias economic opportunities are plentiful and there are vast expectations for its financial success, YBhg Tan Sri Andrew repeatedly reminded the audience that such success is not guaranteed. Asia is the future, but it is not pre-ordained, he said. In his work with various government leaders and policy makers, he prepared 3 different economic scenarios and shared 2 of them. In the first, Asia successfully overcomes its challenges and becomes a global economic leader. In the second scenario, Asia is unable to overcome its challenges and is caught in a middle-income trap. YBhg Tan Sri Andrew began by outlining the current state of the current Asian financial markets compared to North America, Europe, and Japan. By comparing the state and size of each regions various capital markets, derivatives markets, money markets and currency markets, he signified where Asia was lacking and thus where growth must occur for Asia to become a financial powerhouse. In general, Asias capital markets are underdeveloped, he noted. It is important to learn from Japan, whose low interest rates and anaemic stock market (amongst others) will fail to support its aging population. Finance has failed Japan, he said. In addition to these financial factors, Tan Sri Andrew also addressed several other issues that must be tackled. These include rapid population growth, urbanisation, governance change, and technological advances. In Tan Sri Andrews opinion, the most important factor is the environment and climate change. He notes that we have taken extreme advantage of our world and its resources, with little to no regard to the potential consequences. If each of Chinas citizens were to consume as much the average American, there would not be enough. With this in mind, he noted that it will be extremely important for us to put aside our individual desires and have the Earths best interests at heart. Not only will this reduce the burden on our limited resources, but it will also leave our children with a better world. More pragmatically, it would also lessen the chances of conflict over the worlds dwindling resources. As of late, there has also been some talk of the formation of a global currency. Tan Sri Andrew opined that this will not be a major concern. One pattern that has emerged and that will continue is that everything is concentrating, he added. Some examples are that people will continue to concentrate in cities and companies will continue to merge to become ever larger. In addition to being one of UNIRAZAKs two Pro Chancellors, Tan Sri Andrew is currently the Chief Adviser to the China Banking Regulatory Commission and a Board Member of the Qatar Financial Centre Regulatory Authority, Sime Darby Berhad and Khazanah Nasional Berhad,
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    Malaysia. He is also Adjunct Professor at the Graduate School of Economics and Management, Tsinghua University, Beijing and the University of Malaya, Kuala Lumpur.

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