Shang-Jin Wei, Professor, Finance and Economics at Columbia University
Dec 27, 2024
The Chinese stock market has rallied recently in anticipation of another round of government stimulus. This is understandable, as the authorities have rolled out multiple monetary and fiscal stimulus packages to stave off deflation and boost GDP growth. But with public debt already well above historical norms, there is limited room for further fiscal intervention without risking a future debt crisis.
Yu Xiang, Senior Fellow, China Construction Bank Research Institute
Dec 27, 2024
With the country at a critical economic crossroads, the Chinese government’s carefully calibrated policy adjustments provide a solid foundation for future growth. The economy is expected to gain strength, as domestic development and global confidence are both addressed through clear-eyed assessments of deep-seated challenges.
Stephen Roach, Senior Fellow, Yale University
Dec 24, 2024
China’s engineering prowess has been nothing short of extraordinary. From world-class infrastructure and eco-friendly cities to space systems and high-speed trains, China’s impressive accumulation of state-of-the-art physical capital has played a dominant role in driving its economy. But China’s physical engineering accomplishments on the supply side have not been transferable to social engineering efforts on the demand side, especially in stimulating consumer demand.
Brian Wong, Assistant Professor in Philosophy and Fellow at Centre on Contemporary China and the World, HKU and Rhodes Scholar
Dec 20, 2024
In the run-up to the 2018 mid-term elections, then-President of the US Donald J Trump began to ratchet up the intensity of both his rhetoric and policies targeting China – more specifically, the US-China trade relationship. Castigating the trade deficit as one in which China was unfairly taking advantage of China, Trump fired his first shot in July, imposing tariffs on $34 billion worth of Chinese goods.
Stephen Roach, Senior Fellow, Yale University
Dec 03, 2024
I saw nothing but denial in my recent post-US-election tour of Asia, with stops in Hong Kong, Shenzhen, Beijing, and Singapore. Taking a cue from surging global equity markets, Asians are making every effort to wish away problems at home and abroad.
Yu Xiang, Senior Fellow, China Construction Bank Research Institute
Nov 22, 2024
The country is capable of mitigating any ill effects should Trump return to the aggressive form of his first term. China may feel some pressure, but it has built a multilayered economic defense involving domestic demand, fiscal policies, high-tech innovation and international cooperation.
Christopher A. McNally, Professor of Political Economy, Chaminade University
Oct 25, 2024
China’s recent monetary stimulus measures initially boosted stock markets but quickly fell short of reviving domestic demand and investment. A "whatever it takes" approach with more forceful fiscal stimulus is essential to reset consumer and investor confidence.
Shang-Jin Wei, Professor, Finance and Economics at Columbia University
Oct 08, 2024
The timing of China’s new stimulus package is not coincidental. Arriving just before the 75th anniversary of the People’s Republic, the announcement was well-received by equity investors, leading to a surge of more than 15% in the country’s main stock indices.
Zhang Jun, Dean, School of Economics, Fudan University
Sep 30, 2024
In the wake of China’s exit from its zero-COVID strategy, the government has recognized the need to address the economic risks arising not only from suppl
Yu Xiang, Senior Fellow, China Construction Bank Research Institute
Sep 30, 2024
The rare 50-basis-point interest rate cut is the American central bank’s response to a slowing economy. It will inevitably have far-reaching effects. For China, it is likely to influence capital flows and cause fluctuations in China’s financial markets. It will also put upward pressure on the yuan, which could hurt the country’s exporters.