Thursday, October 21, 2010

Economist, Andrew Sheng

Mr. Andrew Sheng was recently featured in the movie INSIDE JOB which is in theaters now. Here's a recent clip of him from BBC News addressing some key factors that led to the financial crisis two years ago. Check back later for more information about Charles Ferguson's excellent documentary as well as a feature with producer Audrey Marrs.

from BBC News

Over the past decade there has been a massive flow of people from the countryside into cities in Asia. This process of urbanisation has helped fuel Asia's development into the world's manufacturing hub.

As average prosperity rises over the next decade, Asians should be able to find work and opportunity closer to home. For the first time, many will have the time and money to splash out on consumer goods.

However, the Chief Adviser to the China Banking Regulatory Commission, Andrew Sheng warns wealth and spending cannot grow indefinitely.