Professor, Finance and Economics at Columbia University
May 12, 2021
While many central banks are still investigating the possibility of issuing a digital currency, China has rolled out a digital currency via a series of pilot programs since last year.
Dec 23, 2020
China’s pledge in September to pursue carbon neutrality by 2060 was followed by a similar pledge from Japan a month later. With these commitments being made at a time when the US has withdrawn from the Paris climate accord, it is easy to interpret them as part of the ongoing geopolitical competition for global leadership. But managing climate change is not a zero-sum game. Here, national competition to strengthen ambitions and policies benefits everyone.
Aug 16, 2020
Shortly after US President Donald Trump issued an executive order effectively banning the Chinese-owned social-media app TikTok, he issued a second order prohibiting “any transaction that is related to WeChat by any person … as identified by the Secretary of Commerce.”
Aug 07, 2020
Following US President Donald Trump’s vow to block US access to TikTok, the popular short-video app’s Chinese parent company, ByteDance, has been in frantic talks with Microsoft, presumably to sell its subsidiary quickly before the ban goes into effect.
Mar 27, 2020
Back in January, I predicted that the spread of the new COVID-19 coronavirus in China would reach a turning point by the second or third week of February.
Dec 13, 2019
December 11, 2019, is the 18th anniversary of China’s accession to the World Trade Organization. It also marks the start of an era in which the WTO no longer has a functioning appellate body to adjudicate trade disputes among member countries. Why is the WTO imploding, and can it be resuscitated before it’s too late?
Nov 20, 2019
Although many societies aspire to provide equal opportunities for everyone, that is easier said than done. People born into different economic and social statuses have unequal educational or financial starting points. This often leads to very different career and life opportunities.
Aug 30, 2019
The recent inversion of the yield curve in the United States – with the interest rate on ten-year US government bonds currently lower than that on short-term bonds – has raised fears of a possible US recession later this year or in 2020. Yet, paradoxically, a downturn in America could help to improve bilateral economic relations with China and cool the two countries’ escalating trade dispute.
May 23, 2019
Trade negotiations between the United States and China have broken down because the US government says the Chinese were walking back their agreement on matters that had previously been addressed. US negotiators and President Donald Trump were furious, and on May 10, Trump more than doubled US tariffs on $200 billion worth of imports from China. The lead Chinese negotiator, Liu He, told reporters that, because a final agreement was not reached, revisions were not “walked back,” a line that the US side does not seem to buy. The Chinese government has now retaliated, announcing that it will raise tariffs on $60 billion worth of US goods.
Apr 08, 2019
China is about to slash the employer contribution rate to the social-security fund from 18-20% (with some variation across regions) to 16%, and cut the value-added tax (VAT) rate from 16% to 13% (for most enterprises). This is on top of a previously announced reduction in the corporate income tax charged on the first CN¥3 million ($447,000) of taxable income.