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SOM-related experts to discuss China's 'Next Big Crisis'

The Yale Club of New York City will be the site of a summit meeting of top global experts, all associated with the School of Management (SOM), who will discuss the growing risk of an economic crisis in China and its implications for U.S. businesses 6-8 p.m. on Wednesday, Sept. 23. The meeting -- titled "China: The Next Big Crisis?" -- is the first in a series of global conferences being planned by SOM.

SOM Dean Jeffrey E. Garten, former U.S. undersecretary of commerce for international trade and author of "The Big Ten: The Big Emerging Markets and How They Will Change Our Lives," will host the gathering of leading global experts, which will include members of SOM's advisory board, regional experts who teach the school's internationally focused curriculum and other global business leaders.

These experts, who have played an influential role on the global stage, all recognize that China has become the principal engine of economic growth in Asia, and share the view that China's economic performance has earned it the status of the most successful of transition economies. They also agree that China's growth, exports and incoming foreign investments are beginning to shrink, leaving the nation increasingly vulnerable. However, they diverge in their perspectives on the new economic reforms China has launched or should implement in the wake of the Asian financial crisis, and about the economic and political implications of these reforms for major U.S. multinationals investing in China.

The four key presenters are

Nicholas R. Lardy, the Frederick Frank Adjunct Professor of International Trade and Finance, who teaches courses on China in SOM's recently launched Emerging Markets Program. He is also author of the new book "China's Unfinished Economic Revolution."

Herbert M. Allison Jr. (Yale '65), president and chief operating officer of Merrill Lynch & Co., Inc., one of the world's largest financial management and advisory companies. Allison is a member of the SOM advisory board.

Rebecca Mark, chair of Enron International, a company that develops, manages and operates energy infrastructures across the globe. Mark also serves on SOM's advisory board.

John L. Thornton (SOM '80), chair of the investment banking enterprise Goldman Sachs Asia, and a member of the six-man executive committee that runs Goldman Sachs. He, too, serves on SOM's advisory board.

For more information, visit the SOM website at http://www.yale.edu/som; call SOM's Office of External Relations at 432-5949; or send email to som.extra@yale.edu.


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