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Peking University, Nov. 17, 2011: Professor Robert A. Mundell, 1999 Nobel Prize winner in Economics, delivered a speech titled “The International Crisis and the Future of the Euro” in the lecture hall of the School of Economics, Peking University (PKU). The event was chaired by Dean of the School of Economics, Professor Sun Qixiang, and was attended by over 400 people from all circles of society, including teachers and students from PKU and other schools. 

PKU Vice President Li Yansong (left) and PKU Council Chairman Zhu Shanlu met with Professor Mundell

Professor Sun Qixiang welcomed Professor Mundell and other guests to PKU before introducing him to the audience. She spoke highly of Professor Mundell’s historic contributions to the theory “the most-favored currency area” and the birth of Euro, as well as his outstanding academic achievements in the choice of monetary policies and fiscal policies. She said that Professor Mundell, “Father of the Euro”, visiting PKU prior to the 8th Beijing Forum and the G-20 Summit meant a lot for the analysis of the world economics and the prospects of the Euro.

Professor Sun Qixiang hosted the event 

After thunderous applause, Professor Mundell began his speech by reviewing the development of the U.S. Monetary Policy and analyzing how global financial crisis happened in 2008 as a result of subprime crisis. He then shared his insights of the status quo of the global economics and the development of the Euro from the perspective of currency and introduced the fiscal and monetary policy of in Euro areas before analyzing the root of the European debt crisis this time. In the final analyses, Professor Mundell predicted the future economic situation in Euro areas, and put forward suggestions on policies for solutions. 

Professor Mundell delivering his speech

 In the lecture hall, the audience applauded as Profressor Mundell spoke

At the end of the lecture, the teachers, students and alumni of the School of Economics raised questions on the current global economic situation as well as the countermeasures taken by China against the European debt crisis. 

Teachers and alumni of the School of Economics took a group picture with Professor Mundell after the speech

After his speech, Professor Mundell was presented with a souvenir by Professor Sun Qixiang and flowers from students. The event successfully concluded in ovation.

Written by: Liao Shunyi
Edited by: Chen Long
Source: Office of International Relations, PKU