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Lingnan University Vice-President Professor Jesús Seade has been Appointed Distinguished Adjunct Professor of Economics at Shenzhen University
18 Dec 2009
Lingnan University (the University) is pleased to announce that Professor Jesús Seade, Vice-President and Sydney S.W. Chair Professor of Economics and Director of the Hong Kong APEC Study Centre of the University, has been appointed Distinguished Adjunct Professor of Economics at the Shenzhen University.
The appointment was announced by Professor Zhang Bigong, President of Shenzhen University at an inaugural ceremony on 11 December 2009.
Professor Seade was very pleased to accept the honorary appointment. He remarked that given the emerging strength of Shenzhen University in Economics, the proximity of Hong Kong and Shenzhen, and the enormous opportunities that exist for strategic and research collaboration between Hong Kong and the Pearl River Delta, in particular with Shenzhen, he hoped Lingnan University and Shenzhen University would establish links for collaboration in the future.
After the ceremony, Professor Seade delivered his public lecture titled “Enormous Debt: the Growth Outlook for Mature Economies”, which was well-received with an over-full auditorium of audience from the academia and members of the public.
Executive Summary of Professor Jesús Seade’s Lecture at Shenzhen University
“Enormous Debt: the Growth Outlook for Mature Economies”
We seem to be emerging from the worst of the Financial Tsunami that hit the world economy since 2007 – in particular since the Lehman Brothers bankruptcy filed on 15 September 2008. Growth is now resuming in the US and elsewhere among mature economies, with unemployment perhaps stabilizing alongside other positive indicators gradually emerging on a variety of fronts. This has been achieved through the decisive application of extreme monetary and fiscal expansion across the world. In this paper I examine the prospects for growth to resume in the major mature economies, in light of (i) the need for the lead to pass from the public to the private sector and the depressed condition of private demand; (ii) the need for reactivation of the financial system whose continuing weakness I will stress through a number of indicators; and in particular (iii) the unprecedented level of debt extremely weak fiscal position that have now taken hold in all major mature economies. It concludes that the medium term outlook for growth for industrial countries is very significantly compromised.
About Professor Jesús Seade
Vice-President, Sydney S.W. Chair Professor of Economics and Director of the Hong Kong APEC Study Centre
Professor Jesús Seade is presently the Vice-President of Lingnan University as well as the Sydney S.W. Leong Chair Professor of Economics and Director of the Hong Kong APEC Study Centre. He has been appointed Distinguished Adjunct Professor of Economics at the Shenzhen University in December 2009.
Professor Seade has been a senior executive and leading contributor to economic theory, policy and practice from a range of senior positions in academia, government, and international economic organizations. He held a Chair in Economics at Warwick University, the United Kingdom and was Director-founder of Mexico’s leading Economics Department; Ambassador and chief negotiator to the Uruguay Round Trade Negotiations and to the General Agreement on Tariffs and Trade (GATT) and was appointed as a founder deputy head of the World Trade Organization (WTO)(1993-1998). Subsequently at the International Monetary Fund (IMF) (1998-2007) he was closely involved in crisis management and capital market issues (Brazil, Argentina, Turkey) before moving on to head the IMF’s Task-force overseeing all work on Standards and Codes. He joined Lingnan University in January 2007 as Chair Professor and Head of the Economics Department and moved to his present position as Vice-President on 1 September 2008, while remaining active in both teaching and research.
Professor Seade’s main research interests are in financial markets, theoretical and applied fiscal analysis, and trade. His publications have appeared in the leading economics journals including Econometrica, Journal of Economic Theory, Review of Economic Studies, Journal of Public Economics, Economic Journal, and others. At Lingnan, where he arrived in January 2007, he has been leading a major collaborative research project with other colleagues at Lingnan and in other universities locally and abroad, studying Hong Kong as International Financial Centre, applying a range of techniques to the analysis of what determines relative efficiency and performance in different sectors of financial industry in major centres in the region and globally. He also heads our APEC Study Centre where he has launched a program of research and international conferences on trade and financial integration in Asia-Pacific and beyond. He teaches undergraduate and graduate courses on the comparative analysis of international financial centres.
The appointment was announced by Professor Zhang Bigong, President of Shenzhen University at an inaugural ceremony on 11 December 2009.
Professor Seade was very pleased to accept the honorary appointment. He remarked that given the emerging strength of Shenzhen University in Economics, the proximity of Hong Kong and Shenzhen, and the enormous opportunities that exist for strategic and research collaboration between Hong Kong and the Pearl River Delta, in particular with Shenzhen, he hoped Lingnan University and Shenzhen University would establish links for collaboration in the future.
After the ceremony, Professor Seade delivered his public lecture titled “Enormous Debt: the Growth Outlook for Mature Economies”, which was well-received with an over-full auditorium of audience from the academia and members of the public.
Executive Summary of Professor Jesús Seade’s Lecture at Shenzhen University
“Enormous Debt: the Growth Outlook for Mature Economies”
We seem to be emerging from the worst of the Financial Tsunami that hit the world economy since 2007 – in particular since the Lehman Brothers bankruptcy filed on 15 September 2008. Growth is now resuming in the US and elsewhere among mature economies, with unemployment perhaps stabilizing alongside other positive indicators gradually emerging on a variety of fronts. This has been achieved through the decisive application of extreme monetary and fiscal expansion across the world. In this paper I examine the prospects for growth to resume in the major mature economies, in light of (i) the need for the lead to pass from the public to the private sector and the depressed condition of private demand; (ii) the need for reactivation of the financial system whose continuing weakness I will stress through a number of indicators; and in particular (iii) the unprecedented level of debt extremely weak fiscal position that have now taken hold in all major mature economies. It concludes that the medium term outlook for growth for industrial countries is very significantly compromised.
About Professor Jesús Seade
Vice-President, Sydney S.W. Chair Professor of Economics and Director of the Hong Kong APEC Study Centre
Professor Jesús Seade is presently the Vice-President of Lingnan University as well as the Sydney S.W. Leong Chair Professor of Economics and Director of the Hong Kong APEC Study Centre. He has been appointed Distinguished Adjunct Professor of Economics at the Shenzhen University in December 2009.
Professor Seade has been a senior executive and leading contributor to economic theory, policy and practice from a range of senior positions in academia, government, and international economic organizations. He held a Chair in Economics at Warwick University, the United Kingdom and was Director-founder of Mexico’s leading Economics Department; Ambassador and chief negotiator to the Uruguay Round Trade Negotiations and to the General Agreement on Tariffs and Trade (GATT) and was appointed as a founder deputy head of the World Trade Organization (WTO)(1993-1998). Subsequently at the International Monetary Fund (IMF) (1998-2007) he was closely involved in crisis management and capital market issues (Brazil, Argentina, Turkey) before moving on to head the IMF’s Task-force overseeing all work on Standards and Codes. He joined Lingnan University in January 2007 as Chair Professor and Head of the Economics Department and moved to his present position as Vice-President on 1 September 2008, while remaining active in both teaching and research.
Professor Seade’s main research interests are in financial markets, theoretical and applied fiscal analysis, and trade. His publications have appeared in the leading economics journals including Econometrica, Journal of Economic Theory, Review of Economic Studies, Journal of Public Economics, Economic Journal, and others. At Lingnan, where he arrived in January 2007, he has been leading a major collaborative research project with other colleagues at Lingnan and in other universities locally and abroad, studying Hong Kong as International Financial Centre, applying a range of techniques to the analysis of what determines relative efficiency and performance in different sectors of financial industry in major centres in the region and globally. He also heads our APEC Study Centre where he has launched a program of research and international conferences on trade and financial integration in Asia-Pacific and beyond. He teaches undergraduate and graduate courses on the comparative analysis of international financial centres.
