John Greenwood OBE is Chief Economist of INVESCO plc. A graduate of Edinburgh University, he did economic research at Tokyo University and was a visiting research fellow at the Bank of Japan (1970-74). From 1974 he was Chief Economist with GT Management plc. As editor of Asian Monetary Monitor he proposed a currency board scheme for stabilizing the Hong Kong dollar in 1983 that is still in operation today. He has been a member of the Committee on Currency Board Operations of the Hong Kong Monetary Authority since 1998.