In the wake of the global financial crisis, there is a consensus that the world needs good regulators to ensure that the financial sector serves society in the way that it should and does not wreak havoc. But it is not an easy task: regulators need to be smart enough to understand the market’s complexities and not be captured by its easy nostrums, devoted enough to public service that they accept earning a pittance compared with what someone of their talents could make in the private sector, strong enough to resist the lobbying pressures from the financial sector, honest enough to resist its enticements and politically astute enough to manage a politics charged with money. Hong Kong has been lucky to have such a regulator in the form of Andrew Sheng, who served as deputy chief executive of its monetary authority. And China has been lucky enough to have him as the chief adviser to its Banking Regulatory Commission. Other countries would have done well if they had a person of Sheng’s caliber in similar positions of influence.

I first met Sheng, a devoted international public servant originally from Borneo, when he was at the World Bank. As much as anyone else, his deep insights into the financial sector helped me understand why East Asia markets were crucial to the region’s extraordinary success. Now, as president of the Fung Global Institute, Sheng helps the world understand what is arguably the biggest economic challenge of our era: the rebalancing of the global economy and what has to be done, especially within financial markets, to ensure economic stability and shared prosperity.

Stiglitz is a Nobel Prize–winning economist and professor at Columbia University

2013 TIME 100
時間介紹其年度100位最有影響力的人在世界上的名單，從藝術家和領導先驅，泰坦和圖標

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約瑟夫·斯蒂格利茨2013年4月18日
孟什·艾哈邁德/彭博社/蓋蒂圖片社
孟什·艾哈邁德/彭博社/蓋蒂圖片社
在全球金融危機之後，有世界需要良好的監管，確保金融業的方式，它應該和不肆虐服務社會的共識。但它不是一項容易的任務：監管機構需要足夠聰明，了解市場的複雜性，而不是其簡單的秘方被捕獲，投入不夠，他們接受賺取微薄什麼人自己的才能可以使在比較公共服務私營部門，強大到足以抵禦來自金融業的遊說壓力，誠實地抗拒它的誘惑，政治上不夠精明的管理被控金錢政治。香港一直是幸運，有在沉聯濤，誰擔任其金融管理局副總裁的形式這樣的調節器。而中國已經足夠幸運，有他作為首席顧問，其銀行業監督管理委員會。其他國家也都做得很好，如果他們有一個人勝的口徑中的影響力類似的立場。

我第一次見到盛，一個忠實的國際公務員，最初是從婆羅洲，當他在世界銀行。不亞於任何人，他的深邃的思想進入金融領域幫助我理解為什麼東亞市場是至關重要的地區的非凡成就。現在，隨著鳳全球研究院院長，盛有助於世界了解可以說是我們這個時代最大的經濟挑戰：全球經濟再平衡，什麼也不用做，尤其是在金融市場，保證經濟穩定和共享繁榮。

斯蒂格利茨是諾貝爾經濟獎獲得者和哥倫比亞大學教授