Sadly, the policy space for stimulus is much less today. ii. In 2008, the world responded to the crisis in coordination. Sure there were differences, but these differences were resolved, and governments and central banks acted firmly, decisively and where required creatively. A similar perception of coordination is lacking today. iii.
With that said, please let me now introduce our highly esteemed and learned speaker for today,– Dr. Zhou Xiaochuan. During his long career, Dr. Zhou has served as a seasoned and successful banking executive, and as a reformist government official. He retired from the People’s Bank of China (PBoC) after serving for a record period of 15 years as Governor.