This paper provides with a proposed roadmap for strengthening financial architecture inEast Asia. We discuss the goals, driving forces and obstacles in the short and medium runand correspondingly suggest possible step...This paper provides with a proposed roadmap for strengthening financial architecture inEast Asia. We discuss the goals, driving forces and obstacles in the short and medium runand correspondingly suggest possible steps that would be taken at different stages. A long-term vision is also briefly presented. The main points we have made are as follows. (1) AnEast Asia monetary union can be an ultimate long-term objective for the region. (2) In orderto achieve this, we shall start with amending the current CMI mechanism and fostering theneed of regional local currencies in trade and financial transactions through establishingregional bond market in the short-term. (3) A regional bond market with local currenciesinvolved and a more stable exchange rate arrangement in a broader scope to emerge arelikely in the medium term.展开更多
After introducing the development of China’s global view, this paper analyzes China’s evolving relationship with some key international organizations and treaties, especially with the G-7/8, and the G-20, puts forwa...After introducing the development of China’s global view, this paper analyzes China’s evolving relationship with some key international organizations and treaties, especially with the G-7/8, and the G-20, puts forward some suggestions for the G-20, and drawsthe following conclusions: Firstly, from China’s perspective, the existing supra-national organizations should be allowed to continue to perform their traditional role in global governance. Secondly, the voice of NGOs should be heard and their opinions should be respected. Thirdly, itishard to envisagethepossibility of establishing a new organization of global governance that is more representative and legitimate. Fourthly, the G7/8 doesnot have to obtain the legitimacy or authority of a global supra-national organization, nor should itstriveto. Fifthly, theG-20 can augment and enhancetheG-7 bymaking ithear the voiceof developing countries.展开更多
A system has been set up in China which provides for independent directors of listedcompanies. Whether these independent directors could play an effective role has, however,always been a matter for dispute. The recent...A system has been set up in China which provides for independent directors of listedcompanies. Whether these independent directors could play an effective role has, however,always been a matter for dispute. The recent case of Leshan Power shows that under thelegal framework and share structure which currently exists in China, there is very narrowscope for independent directors to carry out their function. After discussing the main obstaclesto implementation of independent directorship of Chinas listed companies, the authorpoints out several measures that must be taken in order to enhance the effectiveness ofboards of directors. Finally this paper concludes that without the necessary conditions forindependent directors to actually have a functioning role to play, invitation of independentdirectors by listed companies will be a matter of form only.展开更多
文摘This paper provides with a proposed roadmap for strengthening financial architecture inEast Asia. We discuss the goals, driving forces and obstacles in the short and medium runand correspondingly suggest possible steps that would be taken at different stages. A long-term vision is also briefly presented. The main points we have made are as follows. (1) AnEast Asia monetary union can be an ultimate long-term objective for the region. (2) In orderto achieve this, we shall start with amending the current CMI mechanism and fostering theneed of regional local currencies in trade and financial transactions through establishingregional bond market in the short-term. (3) A regional bond market with local currenciesinvolved and a more stable exchange rate arrangement in a broader scope to emerge arelikely in the medium term.
文摘After introducing the development of China’s global view, this paper analyzes China’s evolving relationship with some key international organizations and treaties, especially with the G-7/8, and the G-20, puts forward some suggestions for the G-20, and drawsthe following conclusions: Firstly, from China’s perspective, the existing supra-national organizations should be allowed to continue to perform their traditional role in global governance. Secondly, the voice of NGOs should be heard and their opinions should be respected. Thirdly, itishard to envisagethepossibility of establishing a new organization of global governance that is more representative and legitimate. Fourthly, the G7/8 doesnot have to obtain the legitimacy or authority of a global supra-national organization, nor should itstriveto. Fifthly, theG-20 can augment and enhancetheG-7 bymaking ithear the voiceof developing countries.
文摘A system has been set up in China which provides for independent directors of listedcompanies. Whether these independent directors could play an effective role has, however,always been a matter for dispute. The recent case of Leshan Power shows that under thelegal framework and share structure which currently exists in China, there is very narrowscope for independent directors to carry out their function. After discussing the main obstaclesto implementation of independent directorship of Chinas listed companies, the authorpoints out several measures that must be taken in order to enhance the effectiveness ofboards of directors. Finally this paper concludes that without the necessary conditions forindependent directors to actually have a functioning role to play, invitation of independentdirectors by listed companies will be a matter of form only.
