World’s economic brains meeting in Hong Kong

Nobel Laureates to head experts who will discuss society’s most vital economic and social challenges.

Over 200 leading economic will gather in Hong Kong today and tomorrow for the first annual conference of the Institute for New Economic Thinking (INET) to be held in Asia since 2009.

INET Executive Director Robert Johnson said INET views Hong Kong as a fitting location for this event set against the backdrop of Asia's rising importance in the global economy.

"Considering the significant contributions China and Asia are making to the global economy, it's essential that we initiate a vigorous dialogue about new economic ideas here. Asian leaders will be principal architects in the global economic system of the future," he said.

In a press briefing, Yu Yongding, a member of the Chinese Academy of Social Sciences, said inflation and property bubbles are being seen since China’s recovery from the fourth quarter of last year. Regulation and control policies have been implemented to restrain such bubbles that also slow down China’s economy.

Yu believed there will be no hard-landing for Chinese economy this year but the growth rate might be slower than expected.

INET is an economic research and education foundation designed to broaden and accelerate the development of a new field of economic thought that will lead to the real-world solutions to the great economic and social challenges. It is based in New York.