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Michael Heng
Michael Heng
Michael Heng is a retired professor. He obtained his PhD in management from the Free University of Amsterdam, and has held academic positions in the Free University of Amsterdam, the University of South Australia, and six other universities in Asia including the National University of Singapore and Fudan University. He has published five books, the most recent is Global Financial Crisis and Challenges for China.

Rather than leaving it to the private sector, governments should step in with creative, long-term investments in education, infrastructure and environmental protection, boost innovation and research, and be unafraid to embark on deficit spending to do this

The world has not really recovered from the 2008 financial crisis, and quantitative easing has only set the stage for the next crisis. To turn things around, central banks should create fiat money and states should spend on job creation.

While Beijing has good reason to be wary of American hegemony in the region, it must realise that a US military withdrawal will encourage unwanted developments: nuclear-armed neighbours in a unified Korea and Japan.

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