JPM Executive Says Asia Should Look Beyond IMF

Andrew Crockett , president of J.P. Morgan Chase International and former general manager of the Bank for International Settlements, a central bank for central bankers, says it is time to give Asia it’s due. Because Asia has become such an important player in global finance — in part becaue of it’s massive reserves — Asian policy makers should have greater representation in international financial bodies. That would include the International Monetary Fund and World Bank, but Mr. Crockett said Asian policy makers need to look beyond those instutitions. “It would be a mistake, in my view, to focus only on the IMF and World Bank,” he said at a luncheon address at the san Francisco Fed’s conference on Asia in Santa Barbara. The global financial architecture is going to need... [read full story]                    

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