Hebrew U. Seminar on 'China, Israel and the Global Economic Crisis'

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[img_assist|nid=604|title=HU Seminar on China, Israel & the Global Economic Crisis'|desc=|link=none|align=left|width=349|height=231]Hebrew U. Seminar on 'China, Israel and the Global Economic Crisis'

28 December, 2008 -  ''China, the world’s fastest-growing economy is not immune to the present global economic downturn,'' say the organizers of a seminar at the Hebrew University of Jerusalem to be held tomorrow on 'China, Israel and the Global Economic Crisis'.

Last month, exports were 2 percent lower than in November 2007, while imports are 18 percent down. The central bank has cut interest rates by more than a full percentage point - the largest rate reduction since the Asian financial crisis a decade ago, while China’s GDP growth is expected to drop this year. Factories are closing down and the Chinese government is warning of social turmoil due to rising unemployment.

Nevertheless, economic growth is still expected to reach 9 percent this year and the government has announced a 586 billion dollar fiscal stimulus package meant to spur private consumption and balance the declining exports with investments in infrastructure projects throughout the country. China has also announced that it will work closely with the IMF and its regional and global partners to overcome the global crisis. But what kind of assistance can it provide? Can China be the engine that pulls the world out of recession, and is it willing to?

At tomorrow's seminar, Richard Herd, senior economist at the OECD and head of the China and Emerging Asia Unit, will discuss these issues and assess the impact of the crisis on China, the fiscal-stimulus package and the implications for the rest of the world. Dr. Kobi Braude, from the Research Division at the Bank of Israel, will then look at the crisis from an Israeli perspective.

The lectures will be followed by a debate with Prof. Yitzhak Shichor, (The Harry S. Truman Research Institute for the Advancement of Peace, The Hebrew University of Jerusalem, The Department of Asian Studies, University of Haifa); Mr. Eyal Propper, (Asia & Multilateral Affairs, Policy Planning Bureau, Ministry of Foreign Affairs) and Att. Lilian Safran Shaked, (Partner, Intl Department, Head of China Desk, Gross, Kleinhendler, Hodak, Halevy, Greenberg & Co) and a Q&A session with the audience.

The event, which is being held under the auspices of the Hebrew University of Jerusalem's Faculty of Humanities, the Louis Frieberg Center for East Asian Studies and the Israel Ministry of Foreign Affairs, will take place at 4 p.m., Monday, December 29, Room 502 at the Maiersdorf Faculty Club, Mount Scopus campus.

The seminar will be conducted in English

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