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A Historical Perspective on the Development of Capital Markets and A Forward Looking Perspective on the Potential Development of Renminbi

Apr 18-2013   



 

----Report on the speech by CEO of Deutsche Bank UK

National School of Development and Beijing International MBA Programs (BiMBA) at Peking University welcomed the guest speaker, Colin Grassie，Chief Executive Officer of Deutsche Bank in the United Kingdom, to carry out a high-end face to face interaction with PKU students in the 2nd Floor of Wanzhong Building on May 14, 2011. Deutsche Bank is a leading sale and trading provider, corporate finance advisor and serves as broker to nearly 50 companies. The Alumni and Career Development Department of BiMBA coordinated this lecture and provided BiMBA students with an opportunity to get a vivid understanding of the function and development of the Bank’s UK franchise and Colin Grassie’s deep insight of the global capital markets. Dr. Cathy Du, Assistant Dean of BiMBA, Director of Academic Affairs hosted the event.

 

Colin Grassie’s speech consisted of mainly two sections: the development of global capital markets and the potential development of the RMB. Rather than identified the impact of the global financial crisis, Mr. Grassie addressed that global capital markets have been shaped by responses to repeated financial crises, as well as major socio-political events throughout history. The 2007-2009 crisis actually followed a major expansion in global capital markets, when looked at from a historical perspective it is only the latest in a long list of financial crisis and clearly shared many of the key features of previous crises across the globe. Needless to say, it is because of those recurrent crises that the global capital markets evolved and innovations occurred. The latest crisis thus will have major implications for the financial services industry. The precise lessons that imperative policy makers draw from the 2007-2009 crisis will determine the way in which global capital markets transit. We should rethink the existing capital market, due to the fact that different countries may have diversified experiences and expectations, especially those emerging economies or Mr. Grassie preferred the word new economies, how could them enforce their voices and have a say in the financial system.

 

As for the second part, the potential development of the RMB, Mr. Grassie said frankly at the beginning that he would like to address this sensitive topic because he had some experience in China and what’s more, he would like to hear the ideas and thoughts of Chinese young people. Mr. Grassie predicted that future development of RMB will be one of the most significant occurrences for the Asian economy in the medium term, considering the fact that the size of China’s GDP is set to exceed that of the US in 2022 predicted by Deutsche Bank. He identified that internationalization of the RMB would be the core issue for Chinese financial system.

 

In the Q&A session, the MBA students discussed their confusions of the recovery of the global capital market especially the concerns towards euro zone and public debts of sovereigns. Mr. Grassie on the one hand worried about the imbalance of the world economy, cheap money interconnectivity of the global market, yet he still believed that we could find a way out in the existing financial system as we always do.

 

When the activity reached the end, Dr. Cathy Du on behalf of the National School of Development thanked the guests with lecture poster and BiMBA souvenir. The entire event concluded in a warm and harmonious atmosphere. Mr. Grassie was impressed by the excellence of BiMBA students and wished the success of all the participants.

A Historical Perspective on the Development of Capital Markets and A Forward Looking Perspective on the Potential Development of Renminbi

Apr 18-2013   



 

----Report on the speech by CEO of Deutsche Bank UK

National School of Development and Beijing International MBA Programs (BiMBA) at Peking University welcomed the guest speaker, Colin Grassie，Chief Executive Officer of Deutsche Bank in the United Kingdom, to carry out a high-end face to face interaction with PKU students in the 2nd Floor of Wanzhong Building on May 14, 2011. Deutsche Bank is a leading sale and trading provider, corporate finance advisor and serves as broker to nearly 50 companies. The Alumni and Career Development Department of BiMBA coordinated this lecture and provided BiMBA students with an opportunity to get a vivid understanding of the function and development of the Bank’s UK franchise and Colin Grassie’s deep insight of the global capital markets. Dr. Cathy Du, Assistant Dean of BiMBA, Director of Academic Affairs hosted the event.

 

Colin Grassie’s speech consisted of mainly two sections: the development of global capital markets and the potential development of the RMB. Rather than identified the impact of the global financial crisis, Mr. Grassie addressed that global capital markets have been shaped by responses to repeated financial crises, as well as major socio-political events throughout history. The 2007-2009 crisis actually followed a major expansion in global capital markets, when looked at from a historical perspective it is only the latest in a long list of financial crisis and clearly shared many of the key features of previous crises across the globe. Needless to say, it is because of those recurrent crises that the global capital markets evolved and innovations occurred. The latest crisis thus will have major implications for the financial services industry. The precise lessons that imperative policy makers draw from the 2007-2009 crisis will determine the way in which global capital markets transit. We should rethink the existing capital market, due to the fact that different countries may have diversified experiences and expectations, especially those emerging economies or Mr. Grassie preferred the word new economies, how could them enforce their voices and have a say in the financial system.

 

As for the second part, the potential development of the RMB, Mr. Grassie said frankly at the beginning that he would like to address this sensitive topic because he had some experience in China and what’s more, he would like to hear the ideas and thoughts of Chinese young people. Mr. Grassie predicted that future development of RMB will be one of the most significant occurrences for the Asian economy in the medium term, considering the fact that the size of China’s GDP is set to exceed that of the US in 2022 predicted by Deutsche Bank. He identified that internationalization of the RMB would be the core issue for Chinese financial system.

 

In the Q&A session, the MBA students discussed their confusions of the recovery of the global capital market especially the concerns towards euro zone and public debts of sovereigns. Mr. Grassie on the one hand worried about the imbalance of the world economy, cheap money interconnectivity of the global market, yet he still believed that we could find a way out in the existing financial system as we always do.

 

When the activity reached the end, Dr. Cathy Du on behalf of the National School of Development thanked the guests with lecture poster and BiMBA souvenir. The entire event concluded in a warm and harmonious atmosphere. Mr. Grassie was impressed by the excellence of BiMBA students and wished the success of all the participants.