Professor Xu Fangzhong from HKU participated in“2015 Foreign Legal Forum” as guest

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Translated by Shirley Yu, March 11, 2015.

On the evening of March 11th, the first lecture of 2015 Foreign Legal Forum was successfully held in Room 401 of Second Teaching Building in Guoding Campus. Professor Xu Fangzhong gave a speech entitled “The Root of Financial Crisis in the United States: Decaying Democracy and Degenerating Rule of Law” to both students and teachers from School of Law. Hu Ling, assistant dean of School of Law hosted this lecture.

There are many theories and arguments about the cause of the financial crisis in the United States. Prof. Xu Fangzhong held the opinion that the root of the financial crisis in the United States is the malfunctioning of American democratic political system and the decaying of rule of law. As a result, financial interest groups could not be supervised and went out of control. However, the enormous damage was undertaken by the society as a whole in the end. Federal Reserve, as the central bank in the United States, is responsible for making monetary policies, supervising bank institutions and maintaining the stability of financial system. At the beginning of the lecture, Prof. Xu illustrated that Federal Reserve, as a supervisor lacks the determination and power to fulfill its responsibility to supervise the financial interest groups through the detailed analysis of the nature, the ownership and the source of senior executives of Federal Reserve. As a matter of fact, the supervisor and the supervised are linked together by a ambiguous and inter-grown benefit-based relationship. Thereafter, Prof. Xu demonstrated his point of views and theories on four levels including the problems faced by American democracy and politics, the decaying of legal system, the influence of military-industrial complex on national policies and the flaws in the system of education. The lecture was profound and splendid, covering politics, economy, culture, military and history.

In the Q&A section, Prof. Xu stated his own understanding on Chinese financial supervision system, the relationship between HongKong and Chinese Mainland and the dilemma faced by the young generation of HongKong. As last, Prof. Xu ended this open and inspiring lecture in the applause of all the teachers and students at present.

（Original News：http://law.shufe.edu.cn/structure/xyxwxx_169934_1.htm）

Published：2015-03-18 Hit：473