A seminar on Financial Regulations and Monetary Policies: Problems and Rules was held on July 29th, 2014. Present at the meeting were Christopher Lingle, Visiting Professor of Economics Universidad Francisco Marroquín (Guatemala); Barun Mitra, Director of the Liberty Institute; Ken Schoolland, Director, Entrepreneurship Center, Hawaii Pacific University, Honolulu, Hawaii, USA; Wolf von Laer, PhD in Political Economy, King’s College London; WU Qing, Researcher at Development Research Center of the State Council; FENG Xingyuan, Deputy Director, Unirule Institute of Economics; ZHANG Shuguang, Chairman of Unirule Academic Committee; WANG Qijun, Outreach and Comms Associate, Blockchain, China; ZHOU Ziheng, Institute of Finance and Banking, CASS. MAO Shoulong, Professor, School of Public Administration and Policy, Renmin University of China; LIU Yan, Editor of Caijing Magazine; LIU Yejin, Professor at Capital University of Economics and Business; MO Zhihong, Associate Professor of Beijing University of Technology; ZHAO Nong, Vice Chairman of Unirule Academic Committee; and Mr. XIONG Yue, Translator of the Babel Institute. There was an audience of around 60 people. 
In the morning session, Professor ZHANG Shuguang opened the seminar by giving a speech to raise the public awareness of the existing problems and flaws of the financial sector home and abroad and of the natures and problems with the monetary policies. In Session I, Prof. FENG Xingyuan led the discussion on sound money and the banking system with joint efforts of Prof. Christopher Lingle and Prof. Ken Schoolland. Prof. Lingle gave a vivid description of the idea of sound money and his concern over the current system where macroeconomic stability is the priority of all the governments in the world that sound money barely holds as a stable system. He also argued that US dollar was the most unstable currency in the world and that sound money could be the tool to defend individual property rights. Prof. Schoolland spoke on the moral hazards of the banking system. He argued that financial interference could bring about three types of moral hazards that were directly linked to governments wrong doings. 
Prof. MO Zhihong and Prof. LIU Yejin commented on their speeches respectively. Prof. MO thought it was important to put forward a clear definition of government and its functions. Prof. LIU thought the core aim of the central bank was to adjust the economy by employing the real interest rate in response to Prof. Schoolland’s speech. 
In Session II, Prof. ZHANG Shuguang led the discussion with two speeches given by Mr. Barun Mitra and Ms. WANG Qijun. They spoke on the importance of gold and convertible currencies and the new trend in the financial sector, which is the creation and circulation of Bitcoin respectively. 
Mr. ZHOU Ziheng and Mr. XIONG Yue commented on the two speeches. They pointed out the breakthrough in breaking the current financial system, one was the Internet finance in China, and the other was Bitcoin. They both believed that such developments might promote the liberalization of the financial system.Totally 2 Pages,Now on the 1 Page 1 2 |
