Andrew Sheng

Andrew Sheng is a former central banker and financial regulator, currently distinguished fellow at the Asia Global Institute, University of Hong Kong. He writes widely on Asian perspectives on global issues, with columns in Project Syndicate, Asia News Network and Caijing/Caixin magazines. His latest book is “Shadow Banking in China”, co-authored with Ng Chow Soon, published by Wiley.
Andrew Sheng
Andrew Sheng is a former central banker and financial regulator, currently distinguished fellow at the Asia Global Institute, University of Hong Kong. He writes widely on Asian perspectives on global issues, with columns in Project Syndicate, Asia News Network and Caijing/Caixin magazines. His latest book is “Shadow Banking in China”, co-authored with Ng Chow Soon, published by Wiley.

Latest from Andrew Sheng

Opinion | From Brexit to the US-China trade war, it’s time to be realistic about solutions or risk massive global fallout

The reversal of globalisation is a major risk to global growth. If deals are not struck on Brexit and the trade war, steps such as competitive currency devaluation could lead to a 1930s-style recession.

16 Feb 2019 - 8:23AM
From Brexit to the US-China trade war, it’s time to be realistic about solutions or risk massive global fallout

The reversal of globalisation is a major risk to global growth. If deals are not struck on Brexit and the trade war, steps such as competitive currency devaluation could lead to a 1930s-style recession.

Opinion | The free market is a destructive myth. Down with the free market

The free market is a bad idea that probably belongs in the rubbish bin of history. A system where human beings and mother nature have been reduced to cogs and commodities has brought only misery, and climate change.

2 Feb 2019 - 6:13AM
The free market is a destructive myth. Down with the free market

The free market is a bad idea that probably belongs in the rubbish bin of history. A system where human beings and mother nature have been reduced to cogs and commodities has brought only misery, and climate change.

Opinion | From Donald Trump’s government shutdown to Brexit chaos, is a pattern emerging of women restoring order?

Climate change and human inequality are the urgent problems political and business leaders should be focusing on. With male leaders ineffectual, and worse, the rise of women offers some hope.

19 Jan 2019 - 2:42AM
From Donald Trump’s government shutdown to Brexit chaos, is a pattern emerging of women restoring order?

Climate change and human inequality are the urgent problems political and business leaders should be focusing on. With male leaders ineffectual, and worse, the rise of women offers some hope.

Opinion | No absolutes, no certainty: welcome to life in a quantum world (aka Trump’s world)

The US leader’s erratic behaviour in fact illustrates some of the principles of quantum physics that more accurately describe the physical world and human behaviour. When old rules don’t apply, new thinking is required.

5 Jan 2019 - 4:27AM
No absolutes, no certainty: welcome to life in a quantum world (aka Trump’s world)

The US leader’s erratic behaviour in fact illustrates some of the principles of quantum physics that more accurately describe the physical world and human behaviour. When old rules don’t apply, new thinking is required.

Opinion | Fake news, cooked books and declining trust – who can we believe when markets and politics corrupt each other?

The ongoing decline in institutional trust is caused by the capture of the state by business interests. What’s less clear is the solution.

22 Dec 2018 - 2:22AM
Fake news, cooked books and declining trust – who can we believe when markets and politics corrupt each other?

The ongoing decline in institutional trust is caused by the capture of the state by business interests. What’s less clear is the solution.

Opinion | Free market can’t save us from climate change – the likes of China, not the US, can lead the effort though

The world has bigger problems than trade or national security threats. Instead of spending on defence against each other or leaving it to the free market, countries should step up and deal with climate change.

8 Dec 2018 - 1:27AM
Free market can’t save us from climate change – the likes of China, not the US, can lead the effort though

The world has bigger problems than trade or national security threats. Instead of spending on defence against each other or leaving it to the free market, countries should step up and deal with climate change.

Opinion | The US is dismantling the multilateral order it built, but the world will have to carry on

US-China relations are unlikely to recover, even with the forthcoming Trump-Xi meeting. The US is turning inward, and the rest of the world has to find a way forward in this new political order.

23 Nov 2018 - 6:00PM
The US is dismantling the multilateral order it built, but the world will have to carry on

US-China relations are unlikely to recover, even with the forthcoming Trump-Xi meeting. The US is turning inward, and the rest of the world has to find a way forward in this new political order.

Opinion | All in all, US midterm results are but a blip in the great populist revolt

Election gains by the Democrats and the predictable Trump tweets show that America is fundamentally divided over values, and the fear and anger that drive the rise of the right will continue to propel the dismantling of the old international order.

10 Nov 2018 - 1:14AM
All in all, US midterm results are but a blip in the great populist revolt

Election gains by the Democrats and the predictable Trump tweets show that America is fundamentally divided over values, and the fear and anger that drive the rise of the right will continue to propel the dismantling of the old international order.

Brexit, Donald Trump and the trade war with China – excessive rules and regulations are how things fall apart

The phenomenon of excessive bureaucratisation, or ‘tight coupling’, has led to failures, a loss of freedom and greater resentment. This angst has been channelled into a desire to discard the old order, as characterised by the European Union, Trump’s political opponents and international trade.

26 Oct 2018 - 7:18PM
Brexit, Donald Trump and the trade war with China – excessive rules and regulations are how things fall apart

The phenomenon of excessive bureaucratisation, or ‘tight coupling’, has led to failures, a loss of freedom and greater resentment. This angst has been channelled into a desire to discard the old order, as characterised by the European Union, Trump’s political opponents and international trade.

Opinion | We’re facing a global financial meltdown and climate catastrophe so why is nobody listening, let alone acting?

The world needs to, but probably won’t, deal with a looming financial storm and global warming. The poor are powerless, the rich are complacent and the leader of the free world seems to think climate change is fake news.

12 Oct 2018 - 6:56PM
We’re facing a global financial meltdown and climate catastrophe so why is nobody listening, let alone acting?

The world needs to, but probably won’t, deal with a looming financial storm and global warming. The poor are powerless, the rich are complacent and the leader of the free world seems to think climate change is fake news.

Opinion | Donald Trump draws laughs at the UN, but the US’ isolationist turn should amuse no one

Trump’s UN speech articulated his vision for American patriotism, which threatens the international system of trade, travel and finance that has made us better off.

29 Sep 2018 - 11:35AM
Donald Trump draws laughs at the UN, but the US’ isolationist turn should amuse no one

Trump’s UN speech articulated his vision for American patriotism, which threatens the international system of trade, travel and finance that has made us better off.

How Malaysia can overcome identity politics and create inclusive growth amid diversity

On the 55th anniversary of the formation of the Federation of Malaysia, the country must grapple with channelling its diversity into building an inclusive knowledge society.

29 Sep 2018 - 2:36PM
How Malaysia can overcome identity politics and create inclusive growth amid diversity

On the 55th anniversary of the formation of the Federation of Malaysia, the country must grapple with channelling its diversity into building an inclusive knowledge society.

Opinion | Global finance can be a creator of wealth or a weapon of mass destruction. As a perfect storm looms, is the end nigh?

The 2008 financial crisis was a wasted opportunity. Governments failed to act, passing the buck to central banks that pumped money into the global economy and set the scene for the next crisis.

29 Sep 2018 - 2:36PM
Global finance can be a creator of wealth or a weapon of mass destruction. As a perfect storm looms, is the end nigh?

The 2008 financial crisis was a wasted opportunity. Governments failed to act, passing the buck to central banks that pumped money into the global economy and set the scene for the next crisis.

Knowledge is king: China and the US are not in a trade war, but a race to the next stage of technology

The world is witnessing a contest between the US’ more market-driven (but not at all government-free) approach and the more state-driven strategy of China, and the first to reach Industry 4.0 wins.

29 Sep 2018 - 2:36PM
Knowledge is king: China and the US are not in a trade war, but a race to the next stage of technology

The world is witnessing a contest between the US’ more market-driven (but not at all government-free) approach and the more state-driven strategy of China, and the first to reach Industry 4.0 wins.

Opinion | Climate change, inequality and financial crises show the old order is changing – but into what?

There is broad agreement that a global order marred by inequality, dangerous climate developments and the disruptions of financial crises must change, but even panels of experts cannot produce a consensus on the shape it will take next.

3 Aug 2018 - 6:53PM
Climate change, inequality and financial crises show the old order is changing – but into what?

There is broad agreement that a global order marred by inequality, dangerous climate developments and the disruptions of financial crises must change, but even panels of experts cannot produce a consensus on the shape it will take next.

Donald Trump’s European trip signals the end of a unipolar world, and all must now fend for themselves

The US president has his reasons for launching a trade war, demanding more spending by Nato partners and labelling the EU a ‘foe’: US debt levels and trade deficits cannot be sustained. The results of his actions, though, will be a once-orderly world off its hinges

20 Jul 2018 - 10:30PM
Donald Trump’s European trip signals the end of a unipolar world, and all must now fend for themselves

The US president has his reasons for launching a trade war, demanding more spending by Nato partners and labelling the EU a ‘foe’: US debt levels and trade deficits cannot be sustained. The results of his actions, though, will be a once-orderly world off its hinges

As AI makes inroads, people, companies and nations must digitise or watch their prospects die

Industry 4.0 calls for an ecosystem of universities, employers and students collaborating to meet the challenge of a digitised economy.

6 Jul 2018 - 6:01PM
As AI makes inroads, people, companies and nations must digitise or watch their prospects die

Industry 4.0 calls for an ecosystem of universities, employers and students collaborating to meet the challenge of a digitised economy.

Cryptocurrencies and blockchain are not the road to riches for all

This much-hyped technology has so far failed to earn the trust that enables financial transactions in the real world, especially when the total security it promises has already been compromised by hacks and fraud.

22 Jun 2018 - 7:43PM
Cryptocurrencies and blockchain are not the road to riches for all

This much-hyped technology has so far failed to earn the trust that enables financial transactions in the real world, especially when the total security it promises has already been compromised by hacks and fraud.

Germany alone can save the European Union, but will it?

Crisis-hit Italy may well destabilise the entire European project, because its problems are symptomatic of what really ails the euro-zone family – a refusal of the rich members to accept that an individual debt is a family debt.

29 Sep 2018 - 2:36PM
Germany alone can save the European Union, but will it?

Crisis-hit Italy may well destabilise the entire European project, because its problems are symptomatic of what really ails the euro-zone family – a refusal of the rich members to accept that an individual debt is a family debt.

With blockchain’s rise, financial regulation must keep up with Industry 4.0 or lose control altogether

The fourth industrial revolution has given rise to blockchain technologies that move transactions out of the purview of regulatory systems.

25 May 2018 - 6:37PM
With blockchain’s rise, financial regulation must keep up with Industry 4.0 or lose control altogether

The fourth industrial revolution has given rise to blockchain technologies that move transactions out of the purview of regulatory systems.

Now Mahathir must heed Malaysians’ wish for change – by protecting the rule of law, for a start

There is a clear trend of urban voters moving away from religion-based politics to vote for improvements in economic livelihood. To safeguard his legacy, Mahathir must manage a generational change in Malaysian politics.

11 May 2018 - 7:48PM
Now Mahathir must heed Malaysians’ wish for change – by protecting the rule of law, for a start

There is a clear trend of urban voters moving away from religion-based politics to vote for improvements in economic livelihood. To safeguard his legacy, Mahathir must manage a generational change in Malaysian politics.

Market volatility is the new normal in our crumbling world order

Financial markets are now vulnerable to a wider range of shocks, as we grapple with the transition from a unipolar to multipolar world, and a divided society in which the elites are dangerously out of touch.

20 Jul 2018 - 8:47PM
Market volatility is the new normal in our crumbling world order

Financial markets are now vulnerable to a wider range of shocks, as we grapple with the transition from a unipolar to multipolar world, and a divided society in which the elites are dangerously out of touch.

Donald Trump has a point – even with advanced technology, manufacturing is essential

Economies have to proceed through a manufacturing-focused phase, even if they switch to a service-oriented approach later, if they want to continue innovating. Advances in robotics and artificial intelligence will not change this.

20 Jul 2018 - 8:47PM
Donald Trump has a point – even with advanced technology, manufacturing is essential

Economies have to proceed through a manufacturing-focused phase, even if they switch to a service-oriented approach later, if they want to continue innovating. Advances in robotics and artificial intelligence will not change this.

Trade war, inequality, populist revolt: baby boomers should reflect on their economic legacy this Easter

Instead of decrying populism, the reaction against free trade and the rise of authoritarians, liberals in rich countries should examine how the globalisation process they supported led to a backlash.

20 Jul 2018 - 8:47PM
Trade war, inequality, populist revolt: baby boomers should reflect on their economic legacy this Easter

Instead of decrying populism, the reaction against free trade and the rise of authoritarians, liberals in rich countries should examine how the globalisation process they supported led to a backlash.

Trump’s threat of a trade war is driven by the West’s fear of the rise of the rest

As more people across the globe become middle class, the distribution of power will change, and national governments must do their best to help those left behind.

23 Mar 2018 - 12:58PM
Trump’s threat of a trade war is driven by the West’s fear of the rise of the rest

As more people across the globe become middle class, the distribution of power will change, and national governments must do their best to help those left behind.

How interest rates and central bank tea leaves will determine the financial weather forecast for 2018

Monetary policy set by the leading central banks, not unseen economic forces, will be crucial in 2018.

3 Jul 2018 - 9:47PM
How interest rates and central bank tea leaves will determine the financial weather forecast for 2018

Monetary policy set by the leading central banks, not unseen economic forces, will be crucial in 2018.

Will the chaotic age of Trump lead to a shift in our understanding of the world?

Donald Trump’s election and his chaotic first year make the need for a paradigm of mutual understanding more urgent.

20 Jul 2018 - 8:47PM
Will the chaotic age of Trump lead to a shift in our understanding of the world?

Donald Trump’s election and his chaotic first year make the need for a paradigm of mutual understanding more urgent.

Inequality can’t be solved by nations alone – it will take civil society, too

While concern over inequality is widespread, the solutions have been elusive, largely because globalisation makes it easy for the rich to avoid progressive taxation. Therefore, civil society will have to play a role.

20 Jul 2018 - 8:47PM
Inequality can’t be solved by nations alone – it will take civil society, too

While concern over inequality is widespread, the solutions have been elusive, largely because globalisation makes it easy for the rich to avoid progressive taxation. Therefore, civil society will have to play a role.

As Trump’s tax cut proposal proves, income inequality is rooted in our quest for simple truths

The US tax cuts exemplify an economic model that is rooted in Western civilisation’s search for universal theories. Within the logic of the free market, income inequality is brushed aside as an inconvenient outlier.

20 Jul 2018 - 8:47PM
As Trump’s tax cut proposal proves, income inequality is rooted in our quest for simple truths

The US tax cuts exemplify an economic model that is rooted in Western civilisation’s search for universal theories. Within the logic of the free market, income inequality is brushed aside as an inconvenient outlier.

Did Bannon know best? Without cooperation, a clash of civilisations with China is coming
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