Economic Society of Singapore

Asia and the World Economy


ESS Annual Dinner 2006 & MAS-ESS Essay Competition Award Ceremony- “Asia and the World Economy”

In the last few years, the emergence of China and India has been keenly felt in the world economy, through its effects on production and trade flows, commodity prices, services trade, and the impact on financial markets of the massive buildup in official foreign reserves. In particular, there has been considerable debate and concern within the international community on the need for Asia to take on greater responsibilities commensurate with its growing economic weight. To a certain extent, it has already begun to do so, as evidenced by China’s and Malaysia’s recent adoption of more flexible exchange rate regimes. But going forward, what changes would be necessary in the international financial system to reflect Asia’s growing economic weight and to encourage Asia to play a more responsible role?


This year, in conjunction with the S2006 IMF-World Bank Meetings, the ESS had the honor of inviting, for the first time, Mr Rodrigo de Rato y Figaredo, Managing Director of the International Monetary Fund, to share his views on the role of Asia in the World Economy at the Annual Dinner.
Amongst the 650 guests who attended were SM Goh Chok Tong, Spanish Ambassador Mr Francisco Rabena, OCBC’s CEO Mr David Conner, DBS’s CEO Mr Jackson Tai, MAS’s Managing Director Mr Heng Swee Keat, Engro Corporation’s CEO Mr Tan Cheng Gay, Fortis Bank’s Managing Director of Private Banking Mr Henrik de Glint & JPMorgan’s Managing Director of Non-Japan Asia Mr Ki Myung Hong.

Click here to download Mr Rodrigo de Rato’s speech on “Asia and the World Economy”.


This year also marks the 50th Anniversary of the Economic Society of Singapore. As part of its celebrations, the Society conferred its Honorary Fellowship on Senior Minister Goh Chok Tong for his outstanding stewardship of and contribution to Singapore. Previous recipients of the ESS Honorary Fellowship include Dr Goh Keng Swee (1973), Professor You Poh Seng (1973), and Emeritus Professor Lim Chong Yah (1979).
For information on the 2006 MAS-ESS Essay Competition Award Ceremony, click here.