Benn Steil Director of International Economics at the Council on Foreign Relations and author of The Battle of Bretton Woods
Emma Smith Analyst at the Council on Foreign Relations.
Jun 30 , 2017
The RMB’s fall against the dollar reflects the slowing of China’s debt-fueled economic growth and the accumulation of default risks. Chinese residents and companies are, not surprisingly, seeking new ways (legal and otherwise) to move money out of the country.
Christopher A. McNally Professor of Political Economy, Chaminade University
Mar 30 , 2017
As President Trump and President Xi prepare to meet in the near future, the current environment makes it unrealistic to expect any breakthroughs in bilateral relations. The sheer complexity of US-China relations, widely differing viewpoints, and the unsettled policy approach by the new U.S. administration make the willingness to meet and talk already an advance.
Zhang Jun Professor, Fudan University
Mar 20 , 2017
Last month, China commemorated the 20th anniversary of the death of Deng Xiaoping, the chief architect of the economic reform and opening up that catapulted the country to the top rungs of the global economic ladder. The anniversary comes at a time when economic openness is under threat, as the United States is now being led by a president who believes that the way to “make America great again” is to close it off from the world.
Richard C. K. Burdekin Jonathan B. Lovelace Professor of Economics, Claremont McKenna College
Mar 10 , 2017
If you ignore the dragon, it will eat you. If you try to confront the dragon it will overpower you. If you ride the dragon, you will take advantage of its might and power.
Yu Xiang Research Fellow, China Institutes of Contemporary International Relations
Mar 06 , 2017
Labeling China as a currency manipulator is demonstrably baseless, but amid loose talk and wild speculation on this and other issues, a formal summit between U.S. President Trump and China’s President Xi Jinping is both important and urgent.
He Weiwen Vice President and Senior Fellow, Center for China and Globalization
Mar 06 , 2017
Since the 2008 global financial crisis, no linkages have been found between the changes in US trade deficits and exchange rates. Chinese exports have grown when global market conditions improve, even in years when the RMB was strong against the dollar.
Vikram Nehru Nonresident Senior Fellow, Carnegie Asia Program
Jan 11 , 2017
Given their economic and geographic proximity to China, Southeast Asian countries are beginning to warm up to the Chinese renminbi. At this stage, however, it would be premature for Southeast Asian governments to do much more than they have already done.
Dan Steinbock Founder, Difference Group
Sep 27 , 2016
On October 1, the Chinese renminbi officially becomes the fifth international reserve currency. Until recently, Washington played geopolitics to defer the renminbi’s internationalization. But what about Wall Street?
Jul 27 , 2016
We often hear that China “manipulates its currency” and harms the U.S. economy. Some say if we punish China as a manipulator or slap tariffs on Chinese goods it would reduce our trade deficit. But what does currency manipulation mean? More importantly, would tariffs on Chinese goods help our economy?
Dean Baker Co-director, Center for Economic and Policy Research
Jul 04 , 2016
An outflow of capital from China, and the trade deficit it has created for rich countries and especially the United States, has led to an enormous gap in demand. The key route to reducing the trade deficit is a lower value of the dollar, which would require China to decrease its foreign reserves. As negotiations work, this would mean the United States would have to make concessions in other areas of the bilateral relationship.