Jing Ulrich, Managing Director and Chairman of China Equities and Commodities at JP Morgan, spoke on the Asian Economies Post-Crisis Panel at the Salzburg Global Session "Emerging Asian Powers: Rivalry and Global Responsibility."
According to her, China's impressive recovery resulted from a substantial increase in government spending and a massive state-directed easing of credit, channeled through its well capitalized banking system. She argued that the banks still had plenty of unused lending capacity left to counter any risk of a future downturn. She said China's households seem to finally be beginning tp spent and invest giving a consumption-led push to the economy.
Bio
Jing Ulrich
Jing Ulrich is J.P. Morgan's managing director and chairman of China Equities and Commodities, where she is leading the expansion of J.P. Morgan's equity business both in China and worldwide.
She serves as an advisor to asset management companies, pension and sovereign wealth funds, and to Chinese institutions seeking to invest overseas.
Ms. Ulrich has received numerous industry accolades for her work as a China watcher; in September 2009 she was ranked as one of Fortune Magazine's 50 most powerful global businesswomen.
Prior to joining J.P. Morgan, she was Managing Director of Greater China equities at Deutsche Bank. She also spent over eight years at Credit Lyonnais Securities Asia. Ms. Ulrich was educated at Harvard and Stanford Universities.
Institution that deals in money and its substitutes and provides other financial services. Banks accept deposits and make loans and derive a profit from the difference in the interest paid to lenders (depositors) and charged to borrowers, respectively. They also profit from fees charged for services. The three major classes of banks are commercial banks, investment banks, and central banks. Banking depends entirely on public confidence in the system's soundness; no bank could pay all its depositors should they simultaneously demand cash, as may happen in a panic. See alsocredit union; Federal Reserve System; savings and loan association; savings bank.
Encyclopædia Britannica, Inc.Country, eastern Asia. Area: 3,696,100 sq mi (9,572,900 sq km). Population (2009 est.): 1,331,433,000. Capital: Beijing. It is the world's most populous country, the Han (ethnic Chinese) forming more than nine-tenths of the population. Languages: dialects of Han Chinese, Mandarin being the most important. Religions: traditional beliefs, Buddhism, Christianity, Islam, Daoism (all legally sanctioned). Currency: renminbi (of which the unit is the yuan). China has several topographic regions. The southwestern area contains the Plateau of Tibet, which averages more than 13,000 ft (4,000 m) above sea level; its core area, averaging more than 16,000 ft (5,000 m) in elevation, is called “the Roof of the World” and provides the headwaters for many of Asia's major rivers. Higher yet are the border ranges, the Kunlun Mountains to the north and the Himalayas to the south. China's northwestern region stretches from Afghanistan to the Northeast (Manchurian) Plain. The Tien Shan (“Celestial Mountains”) separate China's two major interior basins, the Tarim Basin (containing the Takla Makan Desert) and the Junggar Basin. The Mongolian Plateau contains the southernmost part of the Gobi Desert. The lowlands of the eastern region include the Sichuan Basin, which runs along the Yangtze River (Chang Jiang); the Yangtze divides the eastern region into northern and southern parts. The Tarim is the major river in the northwest. China's numerous other rivers include the Huang He (Yellow River), Xi, Sungari (Songhua), Zhu (Pearl), and Lancang, which becomes the Mekong in Southeast Asia. The country is a single-party people's republic with one legislative house. The head of state is the president, and the head of government is the premier.
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