1st October 2014, Madariaga-College of Europe Foundation (Brussels), 10:30 - 12:30
China is the largest foreign holder of U.S. debt with about $1.3 trillion in bills, notes and bonds, behind only the Social Security Trust Fund and the Federal Reserve. The recent creation of the BRICS Development Bank provides China with a new tool to channel additional funds into developing countries. With about one third of global currency reserves, China, often described as the world’s factory, seems on its way to becoming the new world banker. What are the sources and the drivers behind China’s financial power? Will the Yuan become the new world currency? How does the Chinese financial system work and how well-grounded is it? What are its strengths and weaknesses?
Claude Meyer, Professor, PSIA-SciencesPo Paris and author of “La Chine, banquier du monde” (Paris, Fayard, 2014)
Rupert Willis, China Desk, Unit D3 - G20 countries, IMF, G-groups, Directorate General for Economic and Financial Affairs (DG ECFIN), European Commission
The debate was moderated by Pierre Defraigne, Executive Director, Madariaga-College of Europe Foundation.
In partnership with Confucius Institute in Liège (Université de Liège - ULg)