BRICS Economic Think Tank Forum

Cooperation among BRICS Countries for the Reform

of the International Financial Architecture

November 6th, 2014

Beijing International Hotel

Host

Center for China in the World Economy, Tsinghua University Reinventing Bretton Woods Committee

Organize BRICS Economic Think Tank

Support Getulio Vargas Foundation, Brazil

Institute of Applied Economic Research, Brazil Economic Expert Group, Ministry of Finance of Russia

Higher School of Economics, Russia Observer Research Foundation, India

Frontier Advisory, South Africa

   

Agenda Working Languages: Chinese, English 08:00-09:00 Registration 09:00-10:10 Opening Remarks Moderator:

David Daokui Li, Director of Center for China in the World Economy, Tsinghua University; Dean of the Schwarzman Scholars at Tsinghua University; Founding Sponsor of BRICS Economic Think Tank and Member from China

Speakers:（Each guest 5 minutes） Xie Weihe, Vice President, Tsinghua University Zhu Guangyao, Vice Minister, Ministry of Finance of the People’s Republic of China Tu Guangshao, Member of the Standing Committee of the CPC Shanghai Committee; Executive Vice Mayor, Shanghai City Hannah Ryder, Deputy Country Director, United Nations Development Programme in China Zheng Zhijie, President, China Development Bank Li Yang, Vice President, Chinese Academy of Social Sciences Long Guoqiang, Committee Member and Research Fellow, Development Research Center of the State Council Gao Peiyong, President, National Academy of Economic Strategy, Chinese Academy of Social Sciences; Member of BRICS Economic Think Tank from China Yang Bing, Vice District Director, People’s Government of Tianjin Binhai New Area Marc Uzan, Executive Director and Founder of the Reinventing Bretton Woods Committee; Global Coordinator and advisor of BRICS Economic Think Tank

10:10-10:15 Inaugural Ceremony of establishing the BRICS Economic Think Tank Moderator: Gao Peiyong, President, National Academy of Economic Strategy, Chinese Academy of Social Sciences; Member of BRICS Economic Think Tank from China

10:15-10:30 Tea break 10:30-11:25 ENABLING AND ACCOMODATING THE GROWTH OF BRICS

COUNTRIES This session focuses on current challenges in the current macroeconomic setting and the ways preventing secular stagnation in advanced countries and avoiding middle income trap for emerging economies. How to make the rise of the BRICS countries beneficial despite transition compel shifts in relative prices, dramatic changes in

economic structure in both advanced and emerging economies. Moderator:

Marc Uzan, Executive Director and Founder of the Reinventing Bretton Woods Committee; Global Coordinator and advisor of BRICS Economic Think Tank

Fire Starter:（Each guest no more than 5 minutes） Yao Yang, President, National School of Development, Peking University Martin Gilman, Director, Centre for Advanced Studies, Higher School of Economics; Member of the Board of Directors at Sberbank of Russia Jin Canrong, Associate Dean, School of International Studies, Renmin University of China; Member of BRICS Economic Think Tank from China Evandro Menezes de Carvalho, Professor, Getulio Vargas Foundation; Member of BRICS Economic Think Tank from Brazil Geethanjali Nataraj, Senior Fellow/Professor, Observer Research Foundation; Representative of Member of BRICS Economic Think Tank from India Alessandro Giraudo, World Group Chief Economics, Tradition International Group – Paris Andre Simas Magalhaes, First Secretary of Economic Section, Embassy of Brazil in Beijing

Questions and discussion (20 minutes) 11:25-12:05 IF THE INTERNATIONAL FINANCIAL CRISIS COMES

AGAIN, HOW WILL THE BRICS COUNTRIES RESPOND? The global financial crisis has generated a comprehensive impact on the BRICS countries. In response to the financial crisis, the BRICS countries have adopted a package of policy measures. This session will mainly discuss: if the international financial crisis is coming again, how do the BRICS countries jointly prevent it or deal with it?

Moderator: David Daokui Li, Director of Center for China in the World Economy, Tsinghua University; Dean of the Schwarzman Scholars at Tsinghua University; Founding Sponsor of BRICS Economic Think Tank and Member from China

Fire Starter:（Each guest no more than 5 minutes） Liu Shangxi, Director, Research Institute for Fiscal Science, Ministry of Finance, People’s Republic of China Chen Fengying, Former Director/Research Fellow, Institute of World Economic Studies, China Institutes of Contemporary International Relations; Member of BRICS Economic Think Tank from China Denis Ershov, Head of International Relations, Analytical Center for

the Government of Russian Federation; Representative of Member of BRICS Economic Think Tank from Russia Zhang Liqing, Dean, School of Finance, Central University of Finance and Economics; Member of BRICS Economic Think Tank from China Jeremy Stevens, Economist, South Africa's Standard Bank; Member of BRICS Economic Think Tank from South Africa

Questions and discussion (20 minutes) 12:05-12:15 RELEASE: 2014 BRICS ECONOMIC THINK TANK REPORT

Moderator: Feng Xingke, Deputy Secretary General, BRICS Economic Think Tank Release by: David Daokui Li, Director of Center for China in the World Economy, Tsinghua University; Dean of the Schwarzman Scholars at Tsinghua University; Founding Sponsor of BRICS Economic Think Tank and Member from China

12:20-13:30 Lunch (Buffet in First floor ) 13:30-14:45

THE COLLECTIVE PROVISION OF INTERNATIONAL LIQUIDITY This session will try to put in perspective the main objective and institutional framework, size coverage and the network of global financial safety nets (ESM, CRA, AMRO, bilateral swaps. Where do regional financial safety nets sit in the global financial safety nets and what are their respective comparative advantages? How do lending instruments differ? What are the modalities of cooperation? How could RFA be developed as an effective layer of the global financial safety nets? How the CRA fits in this new emergence of governance of the international financial system?

Moderator: Marc Uzan, Executive Director and Founder of the Reinventing Bretton Woods Committee; Global Coordinator and advisor of BRICS Economic Think Tank

Fire Starter:（Each guest 5 minutes） Alfred Schipke, Senior Resident Representative for China, IMF Wang Youming, Director, Department for Developing Countries Studies, China Institute of International Studies Nicola Giammarioli, Head of Strategy and Institutional Relations, European Stability Mechanism Xiangzhi Zhang, Group Head of Budget, Human Resource and Support Services of AMRO Hansoo Kim, Chief Representative in China, Bank of Korea Zong Liang, Deputy Director, Institute of International Finance, Bank of China

Ousmene Mandeng, Managing Director, Pramerica Investment Management

Questions and discussion (30 minutes) 14:45-15:00 Tea break 15:00-16:35 THE BRICS DEVELOPMENT BANK AND ITS ROLE IN

FINANCING INFRASTRUCTURE This session discusses how the BRICS Development Bank provides funds on infrastructure and sustainable development projects for the BRICS countries rapidly.

Moderator: David Daokui Li, Director of Center for China in the World Economy, Tsinghua University; Dean of the Schwarzman Scholars at Tsinghua University; Founding Sponsor of BRICS Economic Think Tank and Member from China

Fire Starter:（Each guest 5 minutes） Pei Changhong, Director, Institute of Economics, Chinese Academy of Social Sciences Jiang Shixue, Deputy Director, Institute of European Studies, Chinese Academy of Social Science Zhu Qingdong, Chief Representative of Cairo Office, China Development Bank Liu Zhi, Director, Center for Urban Development and Land Policy in Peking University-Lincoln Institute Manoj Joshi, Distinguished Fellow, Observer Research Foundation Feng Weijiang, Director of International Political Economic Office, Institute of World Economics and Politics, Chinese Academy of Social Sciences Xu Hongcai, Director, Department of Information, China Center for International Economic Exchanges Kevin Lu, Managing Director and Head of Singapore Office, Partners Group; Distinguished Fellow, INSEAD Cliff Sheng, Partner, Oliver Wyman’s Financial Services Chen Taotao, Director, Center for China-Latin America Management Studies, Tsinghua SEM Zhu Jiejin, Associate Professor, Center of BRICS Countries Studies of Fudan University

Questions and discussion (30 minutes) 16:35-18：00 HOW DO THE BRICS COUNTRIES CONTRIBUTE TO THE

EVOLVING INTERNATINAL FINANCIAL ARCHITECTURE? HOW SHOULD THE CURRENT FINANCIAL INSTITUTION REFORM? HOW SHOULD THE BRICS DEVELOPMENT BANK WORK WITH THE INTERNATIONAL FINANCIAL INSTITUTIONS? This roundtable discussion will focus on how the BRICS countries

contribute to reform the international financial system under the background of the global governance, and how should the current financial institutions reform. How the BRICS development bank, CRA, or Asian Infrastructure Bank change the rules for international financial game, and how these institutions deal with global institutions such as IMF or the World Bank?

Moderator: David Daokui Li, Director of Center for China in the World Economy, Tsinghua University; Dean of the Schwarzman Scholars at Tsinghua University; Founding Sponsor of BRICS Economic Think Tank and Member from China

Fire Starter:（Each guest 5 minutes） Jin Zhongxia, Director, Institute of Finance, the People’s Bank of China Alfred Schipke, Senior Resident Representative for China, IMF Martin Gilman, Director, Centre for Advanced Studies, Higher School of Economics; Member of the Board of Directors at Sberbank of Russia Chen Fengying, Former Director/Research Fellow, Institute of World Economic Studies, China Institutes of Contemporary International Relations; Member of BRICS Economic Think Tank from China Jeremy Stevens, Economist, South Africa's Standard Bank; Member of BRICS Economic Think Tank from South Africa Guo Tianyong, Director, Center for Chinese Banking Studies, Central University of Finance and Economics Qiao Yide, Vice President and Secretary General, Shanghai Development Research Foundation Evandro Menezes de Carvalho, Professor, Getulio Vargas Foundation; Member of BRICS Economic Think Tank from Brazil Marc Uzan, Executive Director and Founder of the Reinventing Bretton Woods Committee; Global Coordinator and advisor of BRICS Economic Think Tank

Questions and discussion (30 minutes) 18:00-18:05 RELEASE: BRICS ECONOMIC THINK TANK JOINT

STATEMENT 18:30-20:00 Dinner

Moderator: David Daokui Li, Director of Center for China in the World Economy, Tsinghua University; Dean of the Schwarzman Scholars at Tsinghua University; Founding Sponsor of BRICS Economic Think Tank and Member from China Speaker: Marc Uzan, Executive Director and Founder of the Reinventing

Bretton Woods Committee; Global Coordinator and advisor of BRICS Economic Think Tank Keynote Speaker: Zhang Xiaoqiang, Executive Vice President, China Center for International Economic Exchanges; Former Deputy Director, National Development and Reform Commission