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2011-05-08

Don't take mechanical approach to financial standard

Comments on Andrew Sheng “Strengthing the Asian financial system: To look forward, look back”, May 6th, 2011, http://www.eastasiaforum.org/2011/05/06/to-look-forward-look-back/

A couple of questions:

Firstly, if the global standard was not able to avoid financial crisis at an almost global scale in which Asia weathered pretty well, what is the point for Asia standard to reach that global standard? Is that for the superficial purpose to look good only?

Secondly, do we really need a global central bank? Look at the euro zone crisis one will probably not feel any need for it.

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