The United States' recent financial downturn sparked in 2008 by real estate speculation and mortgage investments and the current financial crisis in Europe has brought the rising economy of China to the forefront, and Juniata College will host Jeffrey Shafer, a former Asian banking expert for Citigroup, to talk on "China's Rise: World Impact and U.S. Response" at 7:30 p.m., Thursday, Oct. 27, in Neff Lecture Hall in the von Liebig Center for Science.
The lecture is free and open to the public.
Shafer is the owner, founder and lead analyst of JRShafer Insight, a global advisory group that provides strategic advice and assessments for businesses and governments worldwide.
Before starting his own firm, Shafer was vice chairman of global banking for Citigroup, one of the largest banks in the world. In addition, he was senior Asia Pacific officer, where he oversaw corporate client relationships and key government contacts in the Asia-Pacific region.
Shafer started his career at Citibank as a global finance officer specializing in working with governments in Asia, Europe and Latin America on such issues as financial stabilization, liability management and privatization. He later established the bank's Economic and Political Strategies Group, an analytical office that identified key global and economic issues for the bank's investment and corporate bankers, as well as clients.
Before coming to Citibank, Shafer was assistant secretary and later undersecretary for international affairs at the Department of the Treasury from 1993 to 1997. At the treasury department he was responsible for strengthening economic growth and financial stability in developed and developing countries, fostering financial market development and liberalization and strengthening the International Monetary Fund and multilateral development banks.
From 1984 to 1993, Shafer worked at the Organization for Economic Cooperation and Development. Before coming to the OECD, he worked at the Federal Reserve Bank of New York and the Federal Reserve Board. He also served on the Council of Economic Advisers.
Shafer earned a bachelor's degree in economics from Princeton University and went on to earn a master's degree and doctoral degree in economics from Yale University. At various times he has taught at Yale, Carnegie Mellon University and Columbia University.
He is currently a member of the Council on Foreign Relations and the council's International Affairs Fellowship Selection Committee. He also is a member of the National Committee on U.S.-China Relations.