Andrew Sheng, President of the Fung Global Institute, is a former chairman of the Hong Kong Securities and Futures Commission, and is currently an adjunct professor at Tsinghua University in Beijing. His latest book is From Asian to Global Financial Crisis.
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Andrew Sheng
Commentaries by Andrew Sheng
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The Night-Watchman State’s Last Shift
HONG KONG – Too often, debate about the relationship between the state and the market casts them as opposing forces locked in a zero-sum str…
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Lending in the Dark
HONG KONG – The proliferation of China’s opaque, loosely regulated (or unregulated) shadow-banking system has been raising fears of possible…
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Quitting the Quota
HONG KONG – On March 1, China’s State Council announced a new batch of restrictions aimed at reining in property prices by curbing speculati…
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Building a Chinese Rechtsstaat
HONG KONG – A consensus is rapidly emerging within China that the rule of law is the single most important precondition for inclusive, susta…
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China’s Antifragile Ambitions
HONG KONG – China has once again reached a crossroads on its journey toward inclusive, sustainable prosperity. At the Chinese Communist Part…
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The Sino-American Mirror
HONG KONG – November was a month of major leadership changes around the world, including Xi Jinping’s confirmation as China’s top official a…
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Reshaping China’s Government-Services Supply Chain
HONG KONG – A supply chain links producers and consumers through a complex web of outsourcing contracts, with market leaders in any product …
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Micro, Macro, Meso, and Meta Economics
HONG KONG – Given the crisis weighing down the world economy and financial markets, it is not surprising that a substantive reconsideration …
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China’s Evolving Web
HONG KONG – In a recent article, the economist Axel Leijonhufvud defines the market system as a web of contracts. Because contracts are link…
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China’s Next Transformation
HONG KONG – During three decades of favorable global economic conditions, China created an integrated global production system unprecedented…
The Night-Watchman State’s Last Shift
Frank O'Callaghan: States are theoretically expressions of society and the embodiment of the community. In practice they are rarely communal. They are captured by an interest group and used against others. Most perm…
The Night-Watchman State’s Last Shift
PROCYON MUKHERJEE: Completely agree that the question whether Government is Big or Small is an irrelevant one, as long as the government is able to maintain market order through the PRI. In countries where State Capacit…