Contributor(s): Zhu Min, Professor Lord Stern | Mr Zhu will review broad global trends and argue that globally we may be witnessing a fundamental shift in the direction of change. This shift will be analysed using several perspectives, including clusters and spillovers. Implications on global gravity, deleveraging, and growth will be discussed. Mr Zhu will also focus on the financial sector in Asia. After reviewing the current structure of the financial sector, he will discuss key challenges the sector is facing in Asia, including what the needs of the region are and how the financial sector can meet them, regulatory and supervisory challenges, regional integration, and participation on the global markets. Mr Zhu will conclude with the role of the Fund in helping Asia shape the future of its financial markets. Zhu Min is deputy managing director of the International Monetary Fund. He was deputy governor of the People’s Bank of China from 2009 to 2010. He has published extensively on a wide range of macroeconomic management, financial regulation and supervision, and financial market issues. Nicholas Stern is IG Patel Chair of Economics and Government, director of the India Observatory and chairman of the Asia Research Centre at LSE.