Dr. Alicia Garcia Herrero is Chief Economist for Emerging Markets atBanco Bilbao VizcayaArgentaria (BBVA), Since December 2007. She is also a member of the advisory board of theHong Kong Institute of Monetary Research and special advisor to the EuropeanCommission on China issues. She is also adjunct professor at the Lingnan University (HK). Prior to BBVA, she was part of the Asian Research Program of the Bank for International Settlements in Hong Kong. From 2001 until 2006, she was Head of the International Economy Division of Bank of Spain, visiting professor at Johns Hopkins University and at Universidad Carlos III and formerly a member of the Counsel to the Executive Board of the European Central Bank. Upto 1998, she was Head of Emerging Economies at the Research Department at Banco Santander, as well as Associate Professor at Universidad Autónoma in Madrid. From 1994 to 1997, she worked as an economist at the IMF. Alicia García Herrero holds a George Washington Ph.D in Economics. Highly referenced, she has also been a researchfellow at the Bank of Japan and Bank of Finland.