- 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 , 2017If 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 , 2017Labeling 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 , 2017Since 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 , 2017Given 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 , 2016On 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?
- 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 , 2016An 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.
- South China Morning Post ,
Jun 22 , 2016The People’s Bank of China is considering allowing foreign companies to issue shares on the mainland as part of its drive to reform the convertibility of the yuan and open up China’s capital market.
- Lawrence Lau , Professor of Economics, the Chinese University of Hong Kong
Mar 18 , 2016The Renminbi surprised the world markets by its unexpected devaluations first in August 2015 and then in January 2016. The author argues that the Renminbi is unlikely to devalue abruptly and significantly going forward, even though there may be small fluctuations in the Renminbi exchange rate.