讲座题目：

The true reasons about the worldwide financial crises and the global recession – and the impacts on China

讲座时间： 1月29日（星期五）晚 18:45

讲座地点：3教212

主讲人：Prof. Wolf Kersten

The speaker:

    Wolf-Bernhard Kersten, Professor of Economics, is teaching at ECUST, MBA School, Shanghai since 2 years and at Hamburg University since 2002. He is also appointed Professor of Economics at CEIBS, Shanghai, EMBA - program since 2007. Professor Kersten lives in Hamburg and in China (since 2001). Before, he was a member for 30 years of the Executive Management in the Financial and Risk Industry and the CSO for Asia Pacific for the global number one Trade Credit Insurer.

Outline:

    Asked for the reasons about the financial crises 98 % of all Bankers and Governments in the EU were unable to explain. Economic academic experts were also not in the position to present a mature and reliable economic theory which could help to understand the logic of that global disaster.

    In his 3 hours speech the author offers 4 chapters to find out the true reasons:

    The first chapter goes back in the history to the last global recession (1929) which lead in the consequence to the election of Adolf Hitler in Germany and the Second World War with over 50 mio dead people and a complete devastation of whole Europe. It detects the big economic mistakes taken that time by US – and EU - Governments.

    The second chapter starts in the year 1982 in the US and it follows the macro- and micro-economic development waves. It depicts the role of the bankers, the powerful US interest groups and their new sophisticated financing and credit products, like ABS, CDS which were nicely packed and sold around the globe. It also emphasizes the failures of Governments, Supervisory authorities, Central Banks, Rating Agencies and the gambling role of Special US -Insurer giant AIG.

    In its third part the speech concentrates on the impacts of the financial crises and the recession in and on China and its counter-actions, like the stimulus package.

    At the end the speech will give an outlook what will happen next, macro-economically but moreover it stresses the impacts on the Chinese Governments, the enterprises – whether SOE or private - and the consequences for the single Chinese people, the students, the employees, the households and it gives advises what we in China should anticipate for our future personal life and happiness. The result will prove that we all have to go a long and hard way to overcome that global crises.