Senior Fellow, China Center for International Economic Exchanges
Mar 27, 2017
If the US wants to control the global value chain again, it should further open its market and integrate into the global value chain, rather than rely on the “return home” and “America First” policies to pull the chain apart. Only by restructuring the global value chain and by allowing the free movement of production factors can the world create new trade.
Feb 15, 2017
Trade protectionism won’t bring new opportunities to the US, because the global markets have become highly intertwined and interdependent, and the new president’s massive fiscal stimulus plan conflicts with contractionary monetary policy.
Feb 14, 2017
The degree of monetary easing in the major economies is unprecedented and has nearly gone to the extreme, but risk preference and incremental capital gains are the key factors that determine capital flow. International policy coordination can prevent systemic risk from spreading in foreign exchange markets, credit markets and asset cost as well as cross-border capital flow.
Dec 20, 2016
Shelving the TPP could create opportunity to accelerate the FTAAP, working in line with high-standard trade rules, committing to new international trade rules and basing the FTAAP on the next trade mode.
Oct 26, 2016
China needs to continue improving the RMB’s attraction as a financial transaction currency by marketizing the exchange rate and opening up the capital market. In the long-term, it means that the RMB internationalization will be more driven by being used in pricing and as reserve currency rather than by cross-border trade settlement.
Aug 24, 2016
The tool of negative interest rates has not worked, but has spread to dangerous levels. If the current global crisis bailout methods are not fundamentally reformed, and the old policy options continue to be applied, the possibility of another global crisis in the future can not be ruled out.
Aug 08, 2016
In order to enhance global trade and value creation, reducing trade friction-induced costs should be a top priority, which will contribute to elevating GVC cooperation in Asia and at large. Measures should be taken to lower the average tariff level by paring peak tariff, and encourage further trade liberalization.
Jul 11, 2016
“Dollar liquidity shortage” is inevitable in the future, and improving liquidity management including cross-border capital flow and monetary reserves is the key to systematic risk control and crisis management. A global macro-prudential supervision frame should be established to supervise the cross-border capital liquidity as the core target and measure for capital management.
Jun 20, 2016
In the long-term, a series of regional free trade agreements and the new global rules conform to China’s own economic restructuring and reform direction. China must enhance its level of liberalization in such areas as goods trade, service trade and investment, break through market barriers and get rid of institutional barriers. Making use of an open competition will promote the country’s upgrading in the global value chain.
May 18, 2016
Through new policies like the lowest customs threshold, intermediary responsibility, privacy, intellectual property rights, consumer protection, electronic signature and settlement of issues, the evolving global trade framework can promote interconnection and interflow in information, trade and industry so as to bring a new boom via the new round of trade globalization talks.