Andrew Sheng

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 | Donald Trump’s rise reflects all that ails the democratic system. Can Joe Biden fix it?

The clear and present danger to modern liberal democracy is a distorted system, where the rule is ‘heads I win, tails you lose’. If there is one lesson for Asia, it is that violence cannot be an answer to the democratic process.

16 Jan 2021 - 1:08AM

The clear and present danger to modern liberal democracy is a distorted system, where the rule is ‘heads I win, tails you lose’. If there is one lesson for Asia, it is that violence cannot be an answer to the democratic process.

Donald Trump’s rise reflects all that ails the democratic system. Can Joe Biden fix it?
Opinion | 2020’s year of anger at reason must give way to cooperation and hope

It was a year of deep anger, and while we were angry for good reasons, it was more with reason itself. Our future depends not just on science and reason but also on our values, so if we value human life, we should cooperate for the future even as we compete.

2 Jan 2021 - 10:41AM

It was a year of deep anger, and while we were angry for good reasons, it was more with reason itself. Our future depends not just on science and reason but also on our values, so if we value human life, we should cooperate for the future even as we compete.

2020’s year of anger at reason must give way to cooperation and hope
Opinion | How long can the Democrats hold back America’s far-right tide?

The world should hope for the good (healing and prosperity), avoid the bad (a repeat of mistakes from the last financial crisis) and pray against the ugly: a permanent right-wing shift in America.

19 Dec 2020 - 5:29AM

The world should hope for the good (healing and prosperity), avoid the bad (a repeat of mistakes from the last financial crisis) and pray against the ugly: a permanent right-wing shift in America.

How long can the Democrats hold back America’s far-right tide?
Opinion | Amid the Australia-China row and Donald Trump’s bluster, the world needs leaders who talk less and do more for the common good

The Australia-China dispute and Trump’s divided America are important signs of a changing global system, where elite minorities are being challenged by the rest. More than ever, the world needs leaders who can set aside the ‘I’ for the ‘we’.

5 Dec 2020 - 5:57AM

The Australia-China dispute and Trump’s divided America are important signs of a changing global system, where elite minorities are being challenged by the rest. More than ever, the world needs leaders who can set aside the ‘I’ for the ‘we’.

Amid the Australia-China row and Donald Trump’s bluster, the world needs leaders who talk less and do more for the common good
Opinion | Why we should brace for more volatility, violence and conflict in the US in the coming months

Predicting the future is difficult, especially amid such polarisation. But one things seems certain: the Trump supporters that Hillary Clinton once called ‘deplorables’ are still behind him, and the issues driving them will not go away.

21 Nov 2020 - 2:17AM

Predicting the future is difficult, especially amid such polarisation. But one things seems certain: the Trump supporters that Hillary Clinton once called ‘deplorables’ are still behind him, and the issues driving them will not go away.

Why we should brace for more volatility, violence and conflict in the US in the coming months
Opinion | Fractious US election heralds more chaos in a deeply polarised world

The close-call election signals a slim mandate for the new president, leaving a weaker America to face mounting global challenges. The struggle between polarised factions within nations and between nations is only just beginning.

7 Nov 2020 - 5:57AM

The close-call election signals a slim mandate for the new president, leaving a weaker America to face mounting global challenges. The struggle between polarised factions within nations and between nations is only just beginning.

Fractious US election heralds more chaos in a deeply polarised world
Opinion | Why US election between Trump and Biden is a moral test, not about democracy or freedom

At the heart of human choice is a moral issue, whether one cares only for oneself or more about other people and nature. The US election is a moral test for all involved, and their decisions will have consequences for the whole planet.

24 Oct 2020 - 5:29AM

At the heart of human choice is a moral issue, whether one cares only for oneself or more about other people and nature. The US election is a moral test for all involved, and their decisions will have consequences for the whole planet.

Why US election between Trump and Biden is a moral test, not about democracy or freedom
Opinion | The big lesson from the coronavirus pandemic: invest in people

The pandemic has hastened existing trends, advancing the move online and killing off obsolete industries. Given that studies have shown investing in people offers better returns than sinking funds into hardware, this should be our focus.

10 Oct 2020 - 5:28AM

The pandemic has hastened existing trends, advancing the move online and killing off obsolete industries. Given that studies have shown investing in people offers better returns than sinking funds into hardware, this should be our focus.

The big lesson from the coronavirus pandemic: invest in people
Opinion | Coronavirus pandemic shows it’s time to put people and the planet first

A recent OECD report calls for countries to move away from a model that priorities GDP growth to one that focuses on human well-being, environmental sustainability, economic resilience and adaptability to new risks. Instead, tensions indicate we are in danger of war.

25 Sep 2020 - 6:15PM

A recent OECD report calls for countries to move away from a model that priorities GDP growth to one that focuses on human well-being, environmental sustainability, economic resilience and adaptability to new risks. Instead, tensions indicate we are in danger of war.

Coronavirus pandemic shows it’s time to put people and the planet first
Opinion | How Asia can ensure peace and prosperity for another 60 years, amid growing protectionism, decoupling and climate change

Over the past 60 years, Asia’s growing share of the world economy has come at the expense of the West. With India and Asean about to reap the same demographic dividend as China, how Asia manages Western insecurities and societal rifts will be key.

12 Sep 2020 - 10:59AM

Over the past 60 years, Asia’s growing share of the world economy has come at the expense of the West. With India and Asean about to reap the same demographic dividend as China, how Asia manages Western insecurities and societal rifts will be key.

How Asia can ensure peace and prosperity for another 60 years, amid growing protectionism, decoupling and climate change
Opinion | The world must have no more illusions about America’s global leadership

Assumptions about US leadership of the free world were based on a belief in liberal convergence, multilateralism and US superiority. But with Trump in the White House, it is clear that these assumptions have nothing to do with the reality.

29 Aug 2020 - 8:06AM

Assumptions about US leadership of the free world were based on a belief in liberal convergence, multilateralism and US superiority. But with Trump in the White House, it is clear that these assumptions have nothing to do with the reality.

The world must have no more illusions about America’s global leadership
Opinion | US-China relations: Disconnecting from global trade helps no one

Beating the drums of war and decoupling trade might aid domestic politics, but no one in their right mind can support a nuclear arms race amid a global pandemic. Disconnecting global trade and free flow of information only increases costs for all, reducing resources to deal with domestic inequalities.

15 Aug 2020 - 10:26AM

Beating the drums of war and decoupling trade might aid domestic politics, but no one in their right mind can support a nuclear arms race amid a global pandemic. Disconnecting global trade and free flow of information only increases costs for all, reducing resources to deal with domestic inequalities.

US-China relations: Disconnecting from global trade helps no one
Opinion | Central banks’ coronavirus bailouts are distorting the market, but do they even realise it?

By hoovering up debt, central banks are becoming major market players. In capping bank dividends, they force prudent investors into a frothy market. Does anyone still believe the central banks know what they are doing?

13 Oct 2020 - 9:08PM

By hoovering up debt, central banks are becoming major market players. In capping bank dividends, they force prudent investors into a frothy market. Does anyone still believe the central banks know what they are doing?

Central banks’ coronavirus bailouts are distorting the market, but do they even realise it?
Opinion | Why America’s pandemic carnage is a tragedy of global proportions

An America reeling from the emotional trauma of a mismanaged pandemic is incapable of rational policy. When the world’s leading economy and military power feels vulnerable and insecure, there can be no global peace.

18 Jul 2020 - 4:11AM

An America reeling from the emotional trauma of a mismanaged pandemic is incapable of rational policy. When the world’s leading economy and military power feels vulnerable and insecure, there can be no global peace.

Why America’s pandemic carnage is a tragedy of global proportions
Opinion | In a world rived by protests and coronavirus, whose history and whose rights should matter?

The quarrel in the US and elsewhere over controversial monuments and the debate over mask wearing as a means to contain Covid-19 highlight the tension between individual rights and communal good. Societies must find the common threads that bind us or risk a break-up.

4 Jul 2020 - 5:00AM

The quarrel in the US and elsewhere over controversial monuments and the debate over mask wearing as a means to contain Covid-19 highlight the tension between individual rights and communal good. Societies must find the common threads that bind us or risk a break-up.

In a world rived by protests and coronavirus, whose history and whose rights should matter?
Opinion | How innovation and imagination can build more resilient economies in an uncertain post-pandemic world

Even after lockdowns, periodic outbreaks of Covid-19 mean we need more sustainable, resilient economic models. Governments must work with businesses and communities to encourage the mass experimentation needed to shockproof the world.

20 Jun 2020 - 11:00AM

Even after lockdowns, periodic outbreaks of Covid-19 mean we need more sustainable, resilient economic models. Governments must work with businesses and communities to encourage the mass experimentation needed to shockproof the world.

How innovation and imagination can build more resilient economies in an uncertain post-pandemic world
Opinion | George Floyd protests: Trump risks carnage if he unleashes anti-insurrection federal troops on Americans

If the US president carries out his threat, the latest dismaying development under his watch, it would mean invoking the Insurrection Act of 1807. Such a move would spell disaster for not just the US but also the world order.

5 Jun 2020 - 7:01PM

If the US president carries out his threat, the latest dismaying development under his watch, it would mean invoking the Insurrection Act of 1807. Such a move would spell disaster for not just the US but also the world order.

George Floyd protests: Trump risks carnage if he unleashes anti-insurrection federal troops on Americans
Opinion | Coronavirus offers Hong Kong an opportunity to turn its back on protest violence and heal its political rift

Differing views on “one country, two systems” have made political compromise almost impossible. Renouncing violence and pursuing peaceful resolution is the way forward.

22 May 2020 - 9:00PM

Differing views on “one country, two systems” have made political compromise almost impossible. Renouncing violence and pursuing peaceful resolution is the way forward.

Coronavirus offers Hong Kong an opportunity to turn its back on protest violence and heal its political rift
Opinion | Meritocracy is broken. In the post-pandemic world, the best need to take care of the rest

In the US, new technology has divided society into technocratic and industrial classes, and the pandemic has thrown this divide into sharper relief. In the post-coronavirus economy, the question of social fairness must be addressed.

9 May 2020 - 3:43AM

In the US, new technology has divided society into technocratic and industrial classes, and the pandemic has thrown this divide into sharper relief. In the post-coronavirus economy, the question of social fairness must be addressed.

Meritocracy is broken. In the post-pandemic world, the best need to take care of the rest
Opinion | The coronavirus pandemic ends the illusion of every man for himself

The global pandemic shows us the interconnected reality of our existence, where problems easily cross borders and morph. The virus cannot be contained through force alone, but depends on us working together to respond and adapt to changing conditions.

25 Apr 2020 - 6:56AM

The global pandemic shows us the interconnected reality of our existence, where problems easily cross borders and morph. The virus cannot be contained through force alone, but depends on us working together to respond and adapt to changing conditions.

The coronavirus pandemic ends the illusion of every man for himself
Opinion | The US topped a 2019 pandemic preparedness index. So why wasn’t it ready for Covid-19?

Deciding whether capitalism or socialism is more suited for pandemic management is a false binary. The real issue is whether officials under each system are able to test, trace and contain the virus, and work out how to reopen economies

11 Apr 2020 - 4:57AM

Deciding whether capitalism or socialism is more suited for pandemic management is a false binary. The real issue is whether officials under each system are able to test, trace and contain the virus, and work out how to reopen economies

The US topped a 2019 pandemic preparedness index. So why wasn’t it ready for Covid-19?
Opinion | How to win the war against the coronavirus: control emotions, stop the blame game and unite against the common enemy

We must support medical workers by ensuring they have enough protective gear and practising social distancing. Governments must keep a clear head and make hard choices between lives and livelihoods.

28 Mar 2020 - 3:28PM

We must support medical workers by ensuring they have enough protective gear and practising social distancing. Governments must keep a clear head and make hard choices between lives and livelihoods.

How to win the war against the coronavirus: control emotions, stop the blame game and unite against the common enemy
Opinion | The coronavirus is everyone’s problem. Neither markets nor governments can handle this on their own

This crisis is truly different. The pandemic has exposed the myth of false binaries, that complex modern problems can be solved by either purist markets or governments.

14 Mar 2020 - 2:11AM

This crisis is truly different. The pandemic has exposed the myth of false binaries, that complex modern problems can be solved by either purist markets or governments.

The coronavirus is everyone’s problem. Neither markets nor governments can handle this on their own
Opinion | The world is running a trust deficit. Can governments regain trust in the time of coronavirus?

Inequality and fake news are undermining trust worldwide. Out of the coronavirus crisis will come the winners – the institutions able to inspire trust.

28 Feb 2020 - 8:21PM

Inequality and fake news are undermining trust worldwide. Out of the coronavirus crisis will come the winners – the institutions able to inspire trust.

The world is running a trust deficit. Can governments regain trust in the time of coronavirus?
Opinion | Societies in crisis: coronavirus epidemic underlines the need to refresh the social contract between government and the people

A survey of workers and consumers in 22 advanced economies sheds light on the lack of retirement protection and job security, even as income inequality rises to extreme levels. The social contract promised in an open society, alongside a free market, is broken.

15 Feb 2020 - 1:50AM

A survey of workers and consumers in 22 advanced economies sheds light on the lack of retirement protection and job security, even as income inequality rises to extreme levels. The social contract promised in an open society, alongside a free market, is broken.

Societies in crisis: coronavirus epidemic underlines the need to refresh the social contract between government and the people
Opinion | Viral connectivity means we all have to accept the threat of disease and disaster

In an increasingly interconnected world, those of us who enjoy the fruits of globalisation must also bear its risks: climate crisis, drug resistance and emerging epidemics. As the Wuhan outbreak shows, we must work together.

1 Feb 2020 - 7:00AM

In an increasingly interconnected world, those of us who enjoy the fruits of globalisation must also bear its risks: climate crisis, drug resistance and emerging epidemics. As the Wuhan outbreak shows, we must work together.

Viral connectivity means we all have to accept the threat of disease and disaster
Opinion | Not just Brexit, but all of the world’s ‘wicked problems’ need creative solutions

A blog post by Boris Johnson’s chief adviser inviting ‘weirdos and misfits’ to get involved in government policymaking reflects a yearning in many societies for solutions to the intractable problems we face, such as inequality and climate change.

18 Jan 2020 - 2:00PM

A blog post by Boris Johnson’s chief adviser inviting ‘weirdos and misfits’ to get involved in government policymaking reflects a yearning in many societies for solutions to the intractable problems we face, such as inequality and climate change.

Not just Brexit, but all of the world’s ‘wicked problems’ need creative solutions
Opinion | Malaysia’s Vision 2020 report card holds lessons for small nations tackling climate change, tech disruption and geopolitical challenges

Small nations may be helpless against big power politics but every country can adopt technology to meet its challenges. For a vision to work, the political leadership needs everyone on board.

4 Jan 2020 - 3:53AM

Small nations may be helpless against big power politics but every country can adopt technology to meet its challenges. For a vision to work, the political leadership needs everyone on board.

Malaysia’s Vision 2020 report card holds lessons for small nations tackling climate change, tech disruption and geopolitical challenges
Opinion | Climate change, inequality and disruptive technology have brought toxic politics to a boil in 2019

Protests around the world and the rise of populist politics are rooted as much in climate change as in economic factors. Instead of lending to wealthy borrowers at negative interest rates, central banks could use quantitative easing to invest in green infrastructure.

20 Dec 2019 - 9:49PM

Protests around the world and the rise of populist politics are rooted as much in climate change as in economic factors. Instead of lending to wealthy borrowers at negative interest rates, central banks could use quantitative easing to invest in green infrastructure.

Climate change, inequality and disruptive technology have brought toxic politics to a boil in 2019
Opinion | Fake news and echo chambers are the virus that preys on a divided society. But what is the cure?

Mass protests from Hong Kong to France to Ecuador are just the symptoms, reflecting the underlying problem of polarisation in society. But the proliferation of bad information and the rise of social media that amplifies discontent is complicating our search for a solution.

6 Dec 2019 - 8:47PM

Mass protests from Hong Kong to France to Ecuador are just the symptoms, reflecting the underlying problem of polarisation in society. But the proliferation of bad information and the rise of social media that amplifies discontent is complicating our search for a solution.

Fake news and echo chambers are the virus that preys on a divided society. But what is the cure?