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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 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.
Many questions about AI, from the outcome of the AI race to speculation about an AI bubble, need more time to be answered. Uncertainty is the new normal.
The world must choose between believing in the authority of central banks to decide the worth of fiat currencies or trusting in gold as a store of value.
The brutal reality is that the European Union is failing to get its squabbling nations to work as a coherent group.
Involution is a structural phenomenon with both domestic and global implications that China’s leaders are dedicated to addressing.
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Whether AI delivers widespread well-being or further slavery is a political question that must be answered with sound governance.
As the Global South seeks a better development model and China looks for alternatives to mature markets, a match made out of mutual need is emerging.
Inclusive and green finance that is risk-resilient and supportive of innovation and technology must be the foundation of the new Chinese development model.
The work of one of the winners of the Nobel Prize in economics offers a way to think through the divergence between the West and the Rest.
While uncertainty is a defining characteristic of our time, there are some fundamental trends that can show a way forward.
The only certainty is more uncertainty, but money will play a critical role in the unfolding story.
Today’s surge in military spending risks crowding out resources needed to address global issues and make a better future possible.
The facade of central bank independence may be preserved, but financial markets know who’s running the show.
Countries and corporations are surely but silently working towards trade and payment diversification to minimise future disruptions.
No algorithm can predict how the clash of civilisations and economies on a global scale will unfold.
The current negative cycle can only be addressed if we direct our energies towards promoting social and planetary well-being.
While the US and China appear to be in a two-horse race, no country can afford to ignore AI development and adoption.
Those considering other currencies or methods of payment as alternatives to the US dollar are simply looking in the wrong place.
There will be pain, either shared by all voluntarily through peaceful negotiation or imposed on all through force. Take your pick.
As the US tries to reset the dollar-dominated monetary order, those seeking safety should consider a historical alternative to the dollar.
If those holding or trading in US dollars see sticks but no carrots while dollar asset returns fall, the risk of a financial crash will grow.
Outrageous? Yes. But a United States of all Americas and including Greenland would be the first truly planetary North-South superpower.
Trump wants to revive US manufacturing, boost defence and see off the China threat. The last thing he wants is to inherit a ‘loser war’.
While some might lament the shift away from global climate action, Trump’s actions prompt reassessments of existing net-zero strategies.
US policies regarding fossil fuels and technology are reshaping monetary norms as the country seeks to benchmark itself against China.
With China underrated and global footloose capital getting jitters about the United States, investors can expect volatility.
If the Trump 2.0 team is as uncoordinated as Trump 1.0, we will see arrows flying everywhere.
Amid increasing geopolitical uncertainty and trade tensions, investors are counting on the US central bank to keep printing money.
The political centre is no longer holding as governments misjudge their capabilities on the battlefield and their level of public support.
Given Trump’s policy direction, the only conclusion for realists is that self-strengthening must be the main thrust in a fragmenting world order.
