Dean, School of Economics, Fudan University
Jan 29, 2021
When President-elect Joe Biden is inaugurated next week, he will quickly move to transform most dimensions of US policy. A glaring exception is China. But if Biden maintains outgoing President Donald Trump’s confrontational approach to the world’s second-largest economy, he will come to regret it.
Sep 14, 2020
Despite taking a serious hit from COVID-19 lockdowns, China’s economy has proved resilient. It has not, however, fully bounced back: some activities, especially in the service sector, simply cannot be revived. Yet, unlike most of the world, China seems unlikely to become mired in a long recession, not least because of its rapid digital transformation.
Jul 02, 2020
Widespread lockdowns and border closures aimed at combating the COVID-19 pandemic have interrupted global supply chains and largely paralyzed the global economy. Yet, the real weakness of today’s global economy is not the vulnerability of its globalized production networks, but rather souring attitudes toward globalization – and toward China in particular.
Apr 17, 2020
The global recession brought on by the COVID-19 pandemic is almost certain to be far deeper and more protracted than the one that followed the 2008 global financial crisis. While many governments have pledged to bolster their economies with unprecedented monetary and fiscal stimulus – despite holding already-massive public debt – the best they can probably hope for is to stave off economic collapse. If they insist on turning inward – pointing fingers and erecting barriers, instead of upholding international cooperation and economic engagement – even that may become impossible.
Feb 14, 2020
Just five days before the Chinese New Year, the authorities in Beijing finally declared the coronavirus epidemic that originated in Wuhan to be a major public health emergency.
Jan 03, 2020
China’s economic growth is expected to have slowed to just over 6% this year, and it is unlikely to accelerate anytime soon. In fact, economic commentators generally agree that China’s economic performance in 2019 – the worst in nearly 30 years – could be the best for at least a decade. What observers can’t seem to agree on is how worried China should be, or what policymakers can do to improve growth prospects.
Jun 10, 2019
Just when a trade agreement between the United States and China appeared to be in sight, negotiators found themselves back at square one. The immediate reason for the disruption was China’s insistence on a substantially rewritten draft agreement, which, according to US President Donald Trump’s administration, reneges on previously agreed terms. But the root cause of China’s changes to the draft – the reason behind its reluctance to meet US demands – lies in a fundamental miscalculation by the Trump administration.
Apr 03, 2019
For the West, the year 2008 marked the beginning of a difficult period of crisis, recession, and uneven recovery. For China, 2008 was also an important turning point, but one followed by a decade of rapid progress that few could have foreseen.
Dec 03, 2018
China will not go the way of the Soviet Union.
Oct 03, 2018
In attempting to modernize its governance structure, China must reimagine its relationship between its central government and local authorities, despite the risks involved.