Another crash in global asset prices could be brewing according to Raghuram Rajan, Governor of the Reserve Bank of India.
In an interview with the Central Banking Journal, Mr Rajan warned yesterday that economists are "not recognising the overall build-up of risks" in the international financial system. He added: "We are taking a greater chance of having another crash at a time when the world is less capable of bearing the cost".
Mr Rajan's views on financial stability hold particular weight because in 2005, when he was chief economist of the International Monetary Fund, he gave a speech in the US at the influential Jackson Hole conference of central bankers, warning that an explosion in financial innovation had made the world riskier, rather than safer.
Mr Rajan's views were dismissed at the time as "luddite" by the former US Treasury Secretary Larry Summers, but they were subsequently vindicated by the global financial crisis three years later, which panned out much as he had predicted.
他上半年就来了nz扫货。。。。。几个亿港币刚买了nz的酒庄,接着又买了其他生意
Novik scouted Waze for Horizons early in 2012. It was founded just north of his hometown of Tel Aviv, Israel; though he had since relocated to London. He fondly remembers Waze saving him from being late for a meeting in Tel Aviv when the app set him on a route driving him straight through the middle of a petrol station and onto an adjacent road. The in-the-know shortcut saved him 30 minutes of driving and he arrived right on time. The funds Li Ka-Shing’s foundation made from Waze, about US$130 million, have already been donated to Israel’s Technion University in a ceremony Novik attended in October with Horizons director Solina Chau, Li Ka-Shing and Israel’s president Shimon Peres