Yu Yongding, currently President of the China Society of World Economics, is a former member of the monetary policy committee of the Peoples' Bank of China and former Director of the Chinese Academy of Sciences Institute of World Economics and Politics.
------------------------------------------------------------------------------------------------------------------------------
China can break free of the dollar trap
Chinese officials are understandably angry about the irresponsible brinkmanship demonstrated by their American counterparts in recent weeks. Unfortunately, anger counts for little in international finance. The danger facing the US is that after Tuesday’s debt deal any sense of urgency over a dire fiscal situation will dissipate. The danger for China is that it does not learn the right lesson – namely, that now is the time to end its dependency on the US dollar.
December 31, 2012
How should China respond to the economic slowdown?
BEIJING, Oct. 26 (Xinhuanet) -- The growth of China’s gross domestic product (GDP) in the second quarter of this year slowed to 7.6% from 8.1% in the first quarter. It was the lowest since the second quarter of 2009. The newly released statistics about economic growth may eliminate the panic of a hard landing in China. However, they result in many people’s belief that China should further stimulate its economy to ensure an annual growth rate above 8%.
October 26, 2012
The China Bear's Feeble Growl
BEIJING, Sept. 12 (Xinhuanet) -- In recent months, bearish sentiment about the Chinese economy has surged, owing largely to three conjectures. First, China’s housing market is on the brink of collapse. Second, China’s fiscal position will worsen rapidly because of massive local government debt. And, third, the collapse of underground credit networks in bustling cities such as Wenzhou will lead to a broad financial crisis across the country.
September 12, 2012
The Renminbi's journey to the world
It seems that the RMB’s internationalization has been progressing without anyone really noticing. The key remaining questions concern whether or not the RMB will become an important international currency anytime soon, and whether it is poised to pose a serious challenge to the US dollar’s domination of the international monetary system.
September 11, 2012
The China bear's feeble growl
First, China’s housing market is on the brink of collapse. Second, China’s fiscal position will worsen rapidly because of massive local government debt. And, third, the collapse of underground credit networks in bustling cities such as Wenzhou will lead to a broad financial crisis across the country.
September 11, 2012
|
