Opening a panel he moderated at a symposium on “China’s Economic Emergence,” Professor Charles Calomiris, academic director of the Chazen Institute, pointed out that capital markets are thought of as the gatekeepers of resource allocation within any market economy. In China, these important capital markets have had their highs and lows in recent decades. In discussing the markets’ vulnerability, experts from academic, private and governmental institutions including Columbia, MIT and the International Monetary Fund offered their perspectives before opening up the floor for general discussion.
“Capital Markets: China’s Achilles Heel?” was the fifth and final panel of the Weatherhead East Asian Institute’s first annual symposium. Each year, the event discusses China’s rapidly changing economy in presentations with scholars, business leaders and government officials from across Columbia University and around the world.