“Another financial crisis is coming, and we’re still not prepared, warns Min Liao, Director-General of the China Banking Regulatory Commission. Part of an interview series for our Summit on the Global Agenda in Abu Dhabi.
It is likely that the world will face another global financial crisis in the next five years. The reason lies in the fact that many of the problems behind the 2008 crisis remain unsolved. The fragility is still there, for instance in shadowing banking, high indebtedness, a lack of structural reform, the sustainability of emerging markets, and high leverage.”