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Since 2008 China's banks have made loans that approach 30% of GDP each year. The central bank has used a broader measure of credit, total societal financing, that suggests credit extended in 2011 may exceed 40% of the country's GDP. It is inevitable that such profligate lending will result in significant amounts of problem loans.  The international market is well aware of this and Chinese bank shares have been hit hard for most of this year. How will these bad loans be managed? More importantly, why has the government once again used China's ostensibly commercial banks as if they were policy banks and what are the implications of this for China's economy going forward?

Carl E. Walter worked in China and its financial sector for the past 20 years and actively participated in many of the country’s financial reform efforts. While at Credit Suisse First Boston he played a major role in China’s groundbreaking first overseas IPO in 1992, as well as the first primary listing of a state-owned enterprise on the New York Stock Exchange in 1994. He was a member of senior management at China International Capital Corporation, China’s first and most successful joint venture investment bank where he supported a number of significant domestic and international stock and bond underwritings for major Chinese corporations. More recently at JPMorgan he was China Chief Operating Officer and Chief Executive Officer of its banking subsidiary. During this time Carl helped build a pioneering domestic security, risk and currency trading operation.

A long time resident of Beijing before his recent return to the United States, Carl is fluent in Mandarin and holds a PhD from Stanford University and a graduate certificate from Peking University. He is the co-author of Red Capitalism: the fragile financial foundations of China’s extraordinary rise as well as Privatizing China: inside China’s stock markets. 

This event is part of the China's Looming Challenges series. 

Philippines Conference Room

Carl Walter Former CEO Speaker JPMorgan Chase Bank China Co Ltd.
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Winner of the 2011 Emmy for Outstanding Investigative Journalism, “Presumed Guilty” follows the story of two young lawyers and their struggle to free Toño Zúñiga, a young man from Mexico City wrongfully sentenced to 20 years in prison. Filmmakers Roberto Hernández and Layda Negrete expose the injustices of the Mexican legal system.

After the film, join Professors Beatriz Magaloni and Mariano-Florentino Cuéllar for a discussion about the Mexican justice system with director Roberto Hernández.

“The film puts Mexico’s secretive courts on full display for the first time.” – The New York Times

Light refreshments served.

CISAC Conference Room

Mariano-Florentino Cuéllar Host

Dept. of Political Science
Encina Hall, Room 436
Stanford University,
Stanford, CA

(650) 724-5949
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Senior Fellow at the Freeman Spogli Institute for International Studies
Graham H. Stuart Professor of International Relations
Professor of Political Science
beatriz_magaloni_2024.jpg MA, PhD

Beatriz Magaloni Magaloni is the Graham Stuart Professor of International Relations at the Department of Political Science. Magaloni is also a Senior Fellow at the Freeman Spogli Institute, where she holds affiliations with the Center on Democracy, Development and the Rule of Law (CDDRL) and the Center for International Security and Cooperation (CISAC). She is also a Stanford’s King Center for Global Development faculty affiliate. Magaloni has taught at Stanford University for over two decades.

She leads the Poverty, Violence, and Governance Lab (Povgov). Founded by Magaloni in 2010, Povgov is one of Stanford University’s leading impact-driven knowledge production laboratories in the social sciences. Under her leadership, Povgov has innovated and advanced a host of cutting-edge research agendas to reduce violence and poverty and promote peace, security, and human rights.

Magaloni’s work has contributed to the study of authoritarian politics, poverty alleviation, indigenous governance, and, more recently, violence, crime, security institutions, and human rights. Her first book, Voting for Autocracy: Hegemonic Party Survival and its Demise in Mexico (Cambridge University Press, 2006) is widely recognized as a seminal study in the field of comparative politics. It received the 2007 Leon Epstein Award for the Best Book published in the previous two years in the area of political parties and organizations, as well as the Best Book Award from the American Political Science Association’s Comparative Democratization Section. Her second book The Politics of Poverty Relief: Strategies of Vote Buying and Social Policies in Mexico (with Alberto Diaz-Cayeros and Federico Estevez) (Cambridge University Press, 2016) explores how politics shapes poverty alleviation.

Magaloni’s work was published in leading journals, including the American Political Science Review, American Journal of Political Science, Criminology & Public Policy, World Development, Comparative Political Studies, Annual Review of Political Science, Cambridge Journal of Evidence-Based Policing, Latin American Research Review, and others.

Magaloni received wide international acclaim for identifying innovative solutions for salient societal problems through impact-driven research. In 2023, she was named winner of the world-renowned Stockholm Prize in Criminology, considered an equivalent of the Nobel Prize in the field of criminology. The award recognized her extensive research on crime, policing, and human rights in Mexico and Brazil. Magaloni’s research production in this area was also recognized by the American Political Science Association, which named her recipient of the 2021 Heinz I. Eulau Award for the best article published in the American Political Science Review, the leading journal in the discipline.

She received her Ph.D. in political science from Duke University and holds a law degree from the Instituto Tecnológico Autónomo de México.

Director, Poverty, Violence, and Governance Lab
Co-director, Democracy Action Lab
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Roberto Hernández Director, "Presumed Guilty" Commentator
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This paper was prepared for Stanford University’s Global Food Policy and Food Security Symposium Series, hosted by the Center on Food Security and the Environment, and supported by the Bill and Melinda Gates Foundation.


Relative to other regions of the world, most African economies are still heavily reliant on agriculture as a source of income and employment. And with more than 70 percent of the continent’s poor residing in rural areas, the production and productivity performance of African agriculture is pivotal to overall economic growth and the well-being of the poorest people in the region. After a dismal decade of output growth in the 1970s, the rate of aggregate agricultural output growth picked up for each of the subsequent three decades, and averaged 2.83 percent per year during the 2000s. With population growing at still record rates by world standards, per capita output grew much more slowly, just 0.36 percent per year during the past decade. 

The productivity evidence is mixed and difficult to summarize. The rate of African crop yield growth (at least for the four crops given closer attention in this paper: corn, wheat, rice and soybean) is generally slower than elsewhere in the world, and in keeping with patterns seen elsewhere there has been a slowdown in the pace of average crop yield growth in Africa since around 1990. African land and labor productivity levels also generally lag those found elsewhere in the world, although aggregate land productivity in Africa outperformed that of Australia and New Zealand, another region of the world with challenging agricultural soils and heavy reliance on erratic (and often agriculturally marginal) weather. The reported rates of growth in multi-factor productivity (MFP) for African agriculture are also low by world standards, but the body of available evidence suggests that African MFP growth rates picked up in recent years. Unfortunately, the lack of reliable data and differences in the analytical details between the available studies makes it hard to reconcile the evidence and reach robust conclusions about MFP performance throughout sub-Saharan Africa.

Productivity levels and growth rates are affected by a host of factors, not least the technologies linking inputs to outputs and, by implication, the amount, nature and effectiveness of the innovative effort that develops and deploys these technologies. Although overall investments in African public agricultural research and development (R&D) have increased during the past decade or so, the growth in spending is not especially widespread and dominated by growth in just a few countries. Nigeria and Ethiopia account for half the region’s increase in agricultural R&D spending from 2000-2005—the latest year for which data are presently available. The intensity of public investment (i.e., agricultural R&D spending relative to the value of agricultural output) has increased as well. However, during the 2000-2005 period Africa spent just $0.54 on public research for every $100 of agricultural output, almost half the corresponding rest-of-world intensity ($1.05) and one-fifth of the rich country average ($2.70). Fragmented and typically small research agencies, and unstable funding streams still bedevil African agricultural research endeavors and undermine efficiencies in agricultural research that are intrinsically long-term in nature. Turning around these research realties in a meaningful and sustained fashion will be critical to realizing the long-term growth in African agriculture productivity that will be required to grow that sector in particular and the region’s economies more generally.


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The lecture is co-sponsored by the Abbasi Program in Islamic Studies, CDDRL Program on Arab Reform and Democracy and Stanford Humanities Center

This lecture will assess the social-economic and political roots of the ongoing revolutionary process in the MENA region in light of the explanation of revolutions as expressions of the contradiction between the development of productive forces, the mode of production and the political structure. It will address the variety of situations and processes in MENA as related to the differences in social structures and types of states. The social dynamics of the revolutionary process will be examined, pointing to the social-political nature of the forces involved – whether those forces that pre-existed the upheaval or the new forces that emerged during the upheaval. Finally, it will reflect on the perspectives of the process at the regional level.

 Gilbert Achcar is Professor of Development Studies and International Relations at the School of Oriental and African Studies (SOAS) of the University of London, where he is based since 2007, after Beirut, Paris and Berlin. He is the author of several books on politics and international relations in general, and the Middle East and North Africa in particular, including most recently The Clash of Barbarisms: The Making of the New World Disorder (2006), Perilous Power: The Middle East and U.S. Foreign Policy (co-authored with Noam Chomsky, 2007), and The Arabs and the Holocaust: The Arab-Israeli War of Narratives (2010).

Stanford Humanaities Center
Levinthal Hall

Gilbert Achcar Professor of Development Studies and International Relations at the School of Oriental and African Studies (SOAS) Speaker University of London
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"The Stanford Report" covered the recently launched Stanford Human Rights Education Initiative, which brings human rights curriculum into the classrooms of California community colleges to transform students into globally-conscious citizens. Piloted in partnership with the Program on Human Rights, the Stanford Program on International and Cross-Cultural Education (SPICE), and the Division of International Comparative and Area Studies, the Initiative appoints human rights fellows to develop new curriculum for broader application in California and beyond.

Stanford helps bring human rights to community college classrooms

Globalization has meant that the whole world is connected to the whole world's problems. Yet most of today's students live in a world no bigger than a cell phone keypad.

So how do you explain to them that the clothes on their backs may be sewn by slave labor in Asia, or how international human trafficking may be behind an Internet porn site?

Tim Maxwell, an award-winning poet who teaches at the College of San Mateo, said the basic task of reading is becoming harder each year for the Facebook generation. "To bring unpleasant and challenging ideas into their world is really difficult," he said. He described "young people's increasing use of social media and other technologies that, rather [than] widening their worlds, effectively narrows them" to what is pleasurably entertaining.

The remedy? In an unusual move, Stanford is linking arms with educators in California community colleges for a four-year project called Stanford Human Rights Education Initiative.  Following a conference last June on "Teaching Human Rights in an International Context," which launched the project, Stanford has named eight new "Human Rights Fellows" from California's community colleges. Maxwell is one of them.

For more than 12.4 million young Americans, teaching takes place in one of the nearly 1,200 community colleges across the nation – and about a quarter of those community colleges are in California. But few major universities have engaged these institutions.

The new initiative will train students to be engaged as global citizens, said William Hanson, another fellow, who holds a law degree from Columbia and teaches at Chabot College. "We have to find a way to wriggle in."

With a stipend and "visiting scholar" status, the human rights fellows will work with the Stanford Program on International and Cross-Cultural Education (SPICE) and the Division of International Comparative and Area Studies (ICA) to develop human rights curricula, plan human rights conferences and develop the initiative's website. The human rights curriculum they design could, they hope, seed similar programs across the country and the world.

My hope is that human rights will form a central part of every college curriculum – not only as a topic, but as a lens through which to see all topics. Helen Stacy

"My hope is that human rights will form a central part of every college curriculum" – not only as a topic, but as a lens through which to see all topics, said Helen Stacy, director of the program on human rights at the Center on Democracy, Development and the Rule of Law at Stanford's Freeman Spogli Institute for International Studies.

She said that human rights is typically pigeonholed as a "soft subject" in the social sciences or humanities, but such funneling "misses engineering students and IT students and math students."

For example, she said, students of computer science or statistics could be engaged in mapping human trafficking or drug smuggling. Young economists could study the supply-and-demand dynamics of crime.

The effort "to speak a language that speaks to all of the disciplines" could result in a human rights curriculum that extends into the high school and even the elementary school level, Stacy said. Moreover, the planned website with an online curriculum could help educators the world over – even an isolated educator sitting in Uzbekistan, she said.

For the Stanford faculty and staff who created the course, the beginnings go back a long way and are the fruition of years of experience, research and thought.

Gary Mukai's experience of human rights violations was firsthand: the director of SPICE recalls a childhood as a farm worker whose Japanese-American parents, also farm workers, had been detained by their country during World War II. "I grew up puzzled about many of their stories, and their stories certainly influenced my interest in developing educational materials about civil and human rights for young students," he said.

For instance, he recalled uncles and other relatives who volunteered or were drafted by the U.S. Army from behind barbed wire. Or stories about his relatives who received posthumous medals for their sons' service while they still lived behind barbed wire.

Richard Roberts, a Stanford professor of history, remembered reading William Hinton's Fanshen: A Documentary of Revolution in a Chinese Village, years ago. The questions it raised fascinated him: "Who will teach the teacher? Where do we learn? Who do we learn from? Who has the power to teach?"

He said universities typically teach an "isolated, really small segment" of the general population. Roberts, who studies domestic violence and human trafficking in Africa, said that when it comes to human rights, "That's not enough. We have to go beyond the rarefied segment."

One of the people on this frontline of teaching is Enrique Luna, a history instructor at Gilroy's Gavilan College. For him, Stanford represents something of a return: his father had been a cook at the university's dorms. Now Luna is an educator who looks for opportunities for students to participate with direct aid in their local communities and also with groups such as the Zapatistas of Chiapas and the Tarahumara of northern Mexico.

To reach his students, he said, he creates loops "back and forth between reading and doing." When students are doing, they have a reason to read, and when they read, they are able to fix their understandings through application. "They do their best work when they're doing something. That's where the other disciplines pour in," he said.

A lunchtime session last summer was popping with ideas: Hanson was enthusiastic about possibly broadcasting Stanford lectures on human rights on his college's television station.

Another human rights fellow, Sadie Reynolds from Cabrillo College in Aptos, was just happy for the time to think and reflect. "It's hard to articulate hopes this early in the planning. I have a selfish hope of learning about this model so I can apply it in the classroom." She said she will present what she's learned at Stanford to a workshop at Cabrillo.

Those on the frontline of teaching don't get such opportunities very often:  "It's difficult to find time to develop this at community colleges," she said.

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High School students in Palo Alto, Calif., spend more time using digital media daily than their counterparts in Beijing, but the Chinese youths are more likely to build networks online only according to a new study from Stanford University.

STANFORD GRADUATE SCHOOL OF BUSINESS — Who is more digitally switched on – high school students in Silicon Valley or Beijing?

A new study from Stanford University provides some clues. High schoolers in Palo Alto, Calif., in the heart of Silicon Valley, spend significantly more time using digital media every day than their peers at leading high schools in the Chinese capital. However, Chinese students sometimes outpace their American counterparts in embracing the latest internet technologies and building a network of online friends they have never met in person.

The Stanford Program on Regions of Innovation and Entrepreneurship (SPRIE), part of the university's Graduate School of Business, looked into the digital lives of teens in Silicon Valley and China's capital. Seventy-one high schoolers, 44 from Palo Alto and 27 from Beijing, were surveyed online earlier this month. The students, between the ages of 16 and 18, were asked about their usage of different types of consumer electronics and communications, including how much time they spent daily on a range of online activities.

While the California teens spent significantly more time than their Beijing peers using social networking sites and blogging, Beijing students spent considerably more time watching films and videos over the internet, hardly watching television at all. The Beijing teens were much more likely to have online-only friends, and more of them (44% versus 16%) touted Apple's iPad tablets than the Palo Alto respondents.

The study suggested the emergence of a "digital tribe" of teens transcending cultures and geographic borders, especially in tech hotspots such as Silicon Valley and Beijing. "In certain urban locations, today's teens are native 'netizens'," said Marguerite Gong Hancock, associate director of SPRIE. "Most teens in our survey in both Palo Alto and Beijing have had mobile phones since the age of 12. They lead a large part of their daily lives online."

The survey and other research into patterns of entrepreneurship and venture capital investment was discussed September 30 at a Stanford conference addressing the rise of the internet in China. The gathering, China 2.0: Transforming Media and Commerce organized by SPRIE, included speakers from leading internet companies in China, entrepreneurs, and venture capital investors.

In advance of the conference, SPRIE polled the high school students with the assistance of Beijing-based Danwei.org, a Beijing research and information firm. Most of the American teens attend Palo Alto High School, while most of the Beijing students go to People's University Annex High School. Forty-one females and 30 males participated.

SPRIE researchers wanted to get a snapshot of the digital lifestyle of young urban Chinese expected to shape China's technology future. "These are the influencers and early adopters," said Hancock.

China's internet population of about 485 million has already surpassed the approximately 250 million users in the United States. "Understanding the habits of the next generation of Chinese netizens is increasingly important to investors and new media companies. The 'born after 1990' generation in China will play a role in influencing global adoption of new technologies and business models" said Duncan Clark, chairman of consulting firm BDA China, and senior advisor of the China 2.0 project at SPRIE.

There were major similarities between Palo Alto and Beijing students. On weekdays, the top online activity for both was doing schoolwork, followed by using social networking sites and downloading and listening to music. On weekends among the Beijing students, schoolwork remained the leading activity, followed by social networking and web surfing. On weekends in Silicon Valley, students spent the most time on social networking sites, followed by schoolwork and music. In both countries, the teens overwhelmingly favored texting to communicate with friends, although the Beijing teens were less likely to text their parents than the Palo Alto group.

Overall, the U.S. teens spent significantly more time than their Chinese counterparts on almost all types of internet activities. The Palo Alto students spent roughly twice as long (two hours a day) on social networking sites. By contrast, the Beijing teens were much more likely to watch videos and films online.

The study suggested that teens in China rely more heavily on the internet as an emotional and social outlet. In Beijing, more than 90% of respondents said they have friends they know only over the internet. That compared with 29% in Palo Alto. "China's post-'90s single-child generation faces limited play time and heavy academic pressures. The internet enables teens to live out a whole other life online," said Clark.

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Reuben W. Hills Conference Room

Hein Goemans Associate Professor, Political Science, University of Rochester Speaker
Kenneth Schultz Professor, Political Science; Affiliated Faculty Member, CISAC Speaker
Jessica Gottlieb PhD Candidate, Political Science, Stanford University Commentator
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The Association of Southeast Asian Nations has challenged itself is to become a single integrated community by 2015.  The prospect has raised high hopes inside the region.  Will they be met?  Efforts to build the community have intensified, yet the clock ticks and the deadline looms.  Although the result will not match what local enthusiasts of regional unification want to see, but it will likely exceed the expectations of skeptical outsiders.  ASEAN is the linchpin of East Asian regionalism, by design and by default.  What happens to the Association over the next several years has far-reaching implications for the United States, China, and not least for the states and peoples of Southeast Asia.  In his talk, Prof. Pongsudhirak will tease out these dynamics, assess their significance, and explore possible futures beyond 2015.

Thitinan Pongsudhirak heads the Institute of Security and International Studies and teaches international political economy at Chulalongkorn University in Bangkok.  In 2010 he was an FSI-Humanities Center International Visitor at Stanford and, in spring 2011, a visiting professor at Johns Hopkins University’s School of Advanced International Studies.  He has written many articles, chapters, and books on ASEAN and East Asian affairs, and on Thai politics, political economy, and foreign policy.  He has worked for The Nation newspaper (Bangkok), The Economist Intelligence Unit, and Independent Economic Analysis (London).  He currently serves on the editorial boards of Asian Politics & Policy, Contemporary Southeast Asia, the Journal of Current Southeast Asian Studies, and South East Asia Research.  His degrees are from the London School of Economics (PhD), Johns Hopkins University (School of Advanced International Studies, MA), and the University of California, Santa Barbara (BA). 

Daniel and Nancy Okimoto Conference Room

Stanford Humanities Center
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FSI-Stanford Humanities Center International Visiting Scholar

Thitinan Pongsudhirak is a high-profile expert on contemporary political, economic, and foreign-policy issues in Thailand today  He is also a prolific author; witness his op ed, "Moving beyond Thaksin," in the 25 February 2010 Wall Street Journal.

Pongsudhirak is not senior in years, but he is in stature.  His career path has been meteoric since he earned his BA in political science with distinction at UC-Santa Barbara not long ago. In 2001 he received the United Kingdom's Best Dissertation Prize for his doctoral thesis at the London School of Economics on the political economy of Thailand's 1997 economic crisis.

Since 2006 he has held an associate professorship in international relations at Thailand's premier institution of higher education, Chulalongkorn University, while simultaneously heading the Institute of Security and International Studies, the country's leading think tank on foreign affairs.

His many publications include: "After the Red Uprising," Far East Economic Review, May 2009; "Why Thais Are Angry," The New York Times, 18 April 2009; "Thailand Since the Coup," Journal of Democracy, October-December 2008; and "Thaksin: Competitive Authoritarian and Flawed Dissident," in Dissident Democrats: The Challenge of Democratic Leadership in Asia, ed. John Kane et al. (2008).  He has written on bilateral free-trade areas in Asia, co-authored a book on Thailand's trade policy, and is admired by Southeast Asianist historians for having insightfully revisited, in a 2007 essay, the sensitive matter of Thailand's role during World War II.

He was a Salzburg Global Seminar Faculty Member in June 2009, Japan Foundation's Cultural Leader in 2008, and a Visiting Research Fellow at the Institute of Southeast Asian Studies (Singapore) in 2005.  For ten years, in tandem with his academic career, he worked as an analyst for The Economist's Intelligence Unit.

Thitinan Pongsudhirak Professor of International Political Economy, Faculty of Political Science, Chulalongkorn University, Thailand Speaker
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The Program on Human Rights Collaboratory Series is an interdisciplinary investigation of human rights in the humanities. It is funded under the Stanford Presidential Fund for Innovation in International Studies as the third in a sequence of pursuing peace and security, improving governance and advancing well-being.

Pheng Cheah is professor of rhetoric at the University of California at Berkeley. He is the author of Inhuman Conditions: On Cosmopolitanism and Human Rights (Harvard University Press, 2006) and Spectral Nationality: Passages of Freedom from Kant to Postcolonial Literatures of Liberation (Columbia University Press, 2003), and the co-editor of several book collections, including Derrida and the Time of the Political (Duke University Press, 2009), Grounds of Comparison: Around the Work of Benedict Anderson (Routledge, 2003) and Cosmopolitics - Thinking and Feeling Beyond the Nation (University of Minnesota Press, 1998).  He is currently completing a  book on theories of the world and world literature from the postcolonial South in an era of global financialization.  Also in progress is a book on globalization and world cinema from the three Chinas, focusing on the films of Jia Zhangke, Tsai Ming-liang and Fruit Chan.

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Assistant Professor at Brown University (formerly Visiting Scholar at Stanford)
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Elias Muhanna is an Assistant Professor at Brown University. In 2011-12, he was a Non-resident Visiting Scholar at Stanford University’s Program on Arab Reform & Democracy. He is also the author of QifaNabki.com, a blog devoted to Lebanese political affairs, and has written extensively on contemporary cultural and political issues in the Middle East for several general-interest publications, including The Nation, Foreign Policy, The Guardian, The National, Mideast Monitor, World Politics Review, Bidoun, andTransition. In 2012, Muhanna will join the faculty of Brown University as an Assistant Professor of Comparative Literature.

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