, Columnist
The Quiet Singaporean's Loud Revolution
Ravi Menon wants to shine a light from which even the West can draw regulatory comfort.
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His words don't carry a fraction of Fed Chair Janet Yellen's power to move markets; nor do his actions possess the strength of Haruhiko Kuroda's balance-sheet maneuvers at the Bank of Japan. He isn't an intellectual in the mold of economist Andy Haldane at the Bank of England, or Raghuram Rajan, the former governor at the Reserve Bank of India.
Yet this central banker from a nation of 5.6 million people, a policymaker who doesn't even set his own interest rates or issue a currency that's widely held overseas, is front and center of a revolution in global finance.