Europe, Asia and the Changing Global Economy
January 14-15, 2025, Hong Kong

Co-organized by
Hong Kong Institute for Monetary and Financial Research (HKIMR)
European Central Bank (ECB)
Bank of Finland Institute for Emerging Economies (BOFIT)


Programme

Day 1 – January 14, 2025 (Tuesday)
09:00 – 09:30 Registration and Welcome Coffee
09:30 – 09:35 Welcoming Remarks

Darryl CHAN, Deputy Chief Executive, Hong Kong Monetary Authority
                        Deputy Chairman of the Board, Hong Kong Institute for Monetary and Financial Research
09:35 – 10:15 Keynote Speech

“Global Economy: Fragmentation, Decoupling, or Slowbalization?”[Slides]
Olli REHN, Governor, Bank of Finland
10:15 – 10:45 Coffee Break
10:45 – 12:15 Policy Panel Discussion
“Europe, Asia and the Changing Global Economy”
 Moderator: Iikka KORHONEN, Head, Bank of Finland Institute for Emerging Economies
Panelists:
Andrew ROSE, Dean of the Business School, National University of Singapore
Yiping HUANG, Dean of the National School of Development, Peking University
Erik BERGLOF, Chief Economist, Asian Infrastructure Investment Bank
Jorge TOLEDO, European Union Ambassador to China, European Union
Reza BAQIR, Former Governor, Central Bank of Pakistan
12:15 –14:00 Lunch (by invitation only)
14:00 –15:20 Session 1

 Moderator: Michael CHENG, Head, Economic Research Division, Hong Kong Monetary Authority

“Housing Wealth Effect in China”
Han QIU, Bank for International Settlements
Discussant: Kang SHI, The Chinese University of Hong Kong[Slides]

“The Anatomy of Chinese Innovation: Insights on Patent Quality and Ownership”
Philipp BOEING, Goethe University Frankfurt and ZEW Mannheim
Discussant: Heiwai TANG, Asia Global Institute[Slides]
15:20 – 15:35 Coffee Break
15:35 – 16:20 Keynote Speech
“The Euro Area Outlook and Monetary Policy”
 Philip LANE, Member of the European Central Bank’s Executive Board and Chief Economist, European Central Bank

16:20 – 16:35 Coffee Break
16:35 – 17:55 Session 2

 Moderator: Giorgio VALENTE, Head, Hong Kong Institute for Monetary and Financial Research

“Global Flight to Safety, Business Cycles, and the Dollar”
 Martin BODENSTEIN, Federal Reserve Board[Slides]
Discussant: Boris HOFMANN, Bank for International Settlements[Slides]

“Exploring Euro Area Exposure to the Risk of Geoeconomic Fragmentation”
Gergely HUDECZ, European Stability Mechanism[Slides]
Discussant: Tuuli McCully, Bank of Finland Institute for Emerging Economies[Slides]
18:15 Conference Dinner (by invitation only)

Day 2 – January 15, 2025 (Wednesday)
09:00 – 09:30 Registration and Welcome Coffee
09:30 – 10:50 Session 3
Moderator: Matthieu DARRACQ PARIÈS, Head, External Developments Division, European Central Bank

“The Spill-back and Spillover Effects of US Monetary Policy: Evidence from Chinese Export Prices”
Amber LI, The Hong Kong University of Science and Technology[Slides]
Discussant: Georgios GEORGIADIS, European Central Bank[Slides]

“Dollar Trinity”
Gernot J. MÜLLER, University of Tübingen, CEPR, and CESifo[Slides]
Discussant: James YETMAN, Bank for International Settlements
10:50 – 11:20 Coffee Break
11:20 – 12:40 Session 4
Moderator: Hongyi CHEN, Senior Adviser, Hong Kong Institute for Monetary and Financial Research

“Green Debt Transition: From Issuances to Emissions”
 Sergio L. SCHMUKLER, The World Bank[Slides]
Discussant: Guojun HE, The University of Hong Kong[Slides]

“Global Debt-at-Risk”
Raphael LAM, International Monetary Fund[Slides]
Discussant: Man Keung TANG, Temasek

12:45 Conference closing