The global economy could be in the early stages of another crisis – and, once again, the Federal Reserve is in the eye of the storm. As the Fed attempts to exit from its unprecedented policy of massive purchases of long-term assets, many high-flying emerging economies suddenly find themselves in a vise.

To facilitate its drive to upgrade the national economy, China needs to renew its national economy accounting system according to the new international standard, says Zhang Monan.

In order to achieve sustainable, equitable, and innovative GDP growth, China needs a new, more sophisticated growth model – more like a “growth order.” With a more inclusive, long-term approach that emphasizes strong institutions and eliminates perverse incentives, China's leaders can foster a more balanced economy and society.

While most Americans view China as friendly though not as an ally, those who favor demonizing China seek to change both perceptions and realities, writes Dan Steinbock.

While many analysts have characterized China's economic slowdown as a “black swan” event, Yu Xiang explains how this slowdown is the “New Normal” in China. As China’s economy is reformed and rebalanced, the United States will benefit from increased bilateral trade and greater cooperation.

After a careful analysis of a recent New York Times article, Yu Xiang finds that the criticism leveled in the article is full of misinformation and concludes that the protectionist slant revealed in the article is worrying.

China's government is now attempting fiscal decentralization to revitalize the public-finance position, while adopting financial decentralization to maintain currency stability. Indeed, the quest for macroeconomic balance has become the main goal of economic policy.

Yu Yongding explains the implications of China’s slowing economic growth rate and attempts to preempt a rise in inflation.

The Chinese yuan may become a potential challenger to the U.S. dollar as the top choice of reserve currency in central banks around the world. However, for the yuan to make this move, there are several major factors, which it must address first. Daniel McDowell explores the prospects for the yuan’s potential growth.

Canada’s large supply of raw materials and natural resources has made it an ideal trade partner for China. Now, as China’s economy begins to slow, Hugh Stephens examines how a positive, long term perspective on Sino-Canadian relations could be beneficial for all of North America.