In this time of economic instability, we can look to the past to understand how we got here, and what might come next for the shifting global economy. China and the U.S. are key players in shaping what comes next.

China and the United States managed to forge a complementary relationship since 1979, despite their disagreement about the best model of government. They need to return to the pragmatism of the past.

In an effort to get a handle on the economic and financial consequences of the COVID-19 pandemic, the first instinct is to search for precedents and remedies in earlier crises. Many have pointed to the 2008 global financial crisis (GFC) as the most relevant example, especially in the aftermath of the extraordinary monetary-policy actions announced by the US Federal Reserve on March 15. That would be an unfortunate mistake.

Just as a virus can afflict the healthiest of people, a crisis can sweep up even a well-prepared economy. That is why countries must look beyond preventive measures and strengthen their ability to support a speedy recovery.

For the last decade or so, China’s economy has been on something of a roller coaster ride. As 2018 begins, is the country approaching a new ascent, a steep drop, or something in between?

Standard & Poor’s has cut its rating on China by one notch weeks before the country is expected to launch a rare dollar bond, with the ratings agency citi

Financial markets today are thriving. The Dow Jones industrial average, the S&P 500, and the Nasdaq composite index have all reached record highs lately, with emerging-economy financial markets also performing strongly. But digital currencies could further destabilize an already-tenuous leverage- and liquidity-based system.

There are many good investment opportunities during the present economic slowdown, and that is the major difference between China and the developed countries. Even if external conditions do not improve and export growth is weak, China's economy may still grow at 6.5 percent by relying on domestic investment and consumption growth, thus contributing around 30 percent of global growth annually.

In 1997, at the height of the East Asian currency crisis, I wrote an article, “The Sky is not Falling (天塌不下来),” basically saying that the Chinese economy would be able to emerge from the crisis more or less unscathed.