Yukon Huang

Senior Associate
Asia Program
Huang is a senior associate in the Carnegie Asia Program, where his research focuses on China’s economic development and its impact on Asia and the global economy.


PhD, MA, Princeton University 
BA, Yale University


Chinese; English


Yukon Huang is a senior associate in the Carnegie Asia Program, where his research focuses on China’s economic development and its impact on Asia and the global economy.

Previously, he was the World Bank’s country director for China (1997–2004) and for Russia and the former Soviet Union Republics of Central Asia (1992–1997). Before that, he served as lead economist for Asia and chief for Country Assistance Strategies. He has also held positions at the U.S. Treasury and various universities in the United States, Tanzania, and Malaysia.

He is the A-List commentator for the Financial Times on China, and his articles also appear frequently in other major media such as the Wall Street Journal, Bloomberg, Foreign Affairs, and CNN. 

Huang has published widely on development issues, recently co-editing the book East Asia Visions, a collection of papers by noted Asian scholars on future prospects for the region. He recently completed a volume entitled Reshaping Economic Geography in East Asia.

He is an adviser to the World Bank and the Asian Development Bank, as well as to various governments and companies. 

  • Op-Ed Caixin September 29, 2015
    Adjusting China’s Growth Path

    Many economists believe that consumption and innovation are the keys to future expansion in China, but clearing up distortions in the economy are better solutions.

  • Op-Ed The Diplomat September 16, 2015
    Is the China Growth Model Dead?

    China still has significant growth potential if it can manage to better balance the market and the role of the state.

  • Op-Ed Wall Street Journal August 31, 2015
    How China’s Consumption Matters

    In response to the slowing growth of China’s GDP, Beijing should make reforms that would spur more production.

  • Op-Ed Financial Times August 26, 2015 中文
    Beijing’s Drive to Make the Renminbi a Global Currency is Misguided

    Internationalizing the renminbi would make sense as the outcome of a long-term process of opening up capital markets and liberalizing exchange and interest rates, but it should not be driving near-term policy choices that must respond to cyclical market shifts.

  • Podcast August 18, 2015
    What is Going on with China’s Economy? (Part 2)

    China’s leaders remain committed to strengthening the country’s capital market so as to internationalize the renminbi and enhance Chinese influence on the international financial system.

  • Op-Ed Caixin Online August 18, 2015 Русский 中文
    Learning from China’s Equity Bubble

    Excessive intrusions by the Chinese state to shore up confidence in the country’s financial markets are precisely what led to overheating.

  • Podcast August 5, 2015
    What Caused the Chinese Stock Market Crash? (Part 1)

    While the recent stock market crash seems unlikely to prompt wider economic fallout, it has undermined the confidence and credibility of Chinese leaders.

  • Op-Ed Financial Times July 17, 2015
    Political Lessons to Learn From China’s Equity Bubble

    The economic consequences of China’s recent equity bubble will be minor given its limited role in the economy. The political implications, however, are more serious.

  • Op-Ed Financial Times June 8, 2015 中文
    Urbanization Is Key to Why India Is So Far in China’s Wake

    If India is to achieve the same sustained success as China, then it needs to take a hard look at why its urbanization process has failed so miserably in comparison.

  • Op-Ed Diplomat May 29, 2015
    The Truth About Chinese Corruption

    A generation from now, historians may look back at Chinese President Xi Jinping’s tenure as marking a break with the past; rather than defining a new normal for the Chinese economy, the time will be remembered for Xi’s crusade against corruption.

  • CCTV America October 5, 2015
    On the Significance of the TPP Deal

    The TTP may be determined by whether or not China becomes a member, as free trade agreements are generally more successful if there are more participants.

  • CCTV September 15, 2015
    China Launches Latest Guidelines to Deepen SOE Reforms

    What should the world make of China’s new guidelines on State-Owned Enterprise (SOE) reform that were launched yesterday?

  • CCTV July 16, 2015
    The Heat: Chinese Economy and Transnational Partnerships

    In China, there is not always a significant division between those who regulate the economy and those who champion economic growth.

  • CNC News June 24, 2015
    On the China-U.S. Strategic and Economic Dialogue

    Topics on the agenda for the Strategic and Economic Dialogue include the state of the U.S. economy, the progress of China’s economic reforms, the bilateral investment treaty, and climate change.

  • U.S.-China Policy Foundation May 22, 2015
    China’s Changing Economy

    In the past three decades, China has changed from what would be described as a centrally-planned economy to what could be called a state-led capitalist system that is more private-oriented and subject to market forces.

  • CNBC September 5, 2014
    Russia Doesn’t Care About Relationships

    When countries export raw materials, as Russia does, they do not need to worry about their relationships with other countries because their products are easily marketable everywhere.

  • China View December 31, 2013
    Solving China’s Swelling Local Debt Problem

    Addressing China’s local debt problem requires fiscal reforms to increase local revenues. Sustaining growth also requires expanding the role of private firms and a more efficient urbanization process.

  • China View December 27, 2013
    Balancing China’s Economy is Unnecessary

    All successful development stories, from the United States to Korea, involved the same unbalanced growth trajectory China is now on, and they only rebalanced once they reached high income.

  • CCTV July 16, 2013
    Policymakers Not Concerned Over Chinese Growth Rate

    Chinese leaders are less concerned about growth moderating in the short term and are more focused on long-term reforms.

  • Channel News Asia July 9, 2013
    Developing Countries Take the Lead in Trade Liberalization

    China is giving more consideration to the possibility of joining the Trans-Pacific Partnership.

  • May 12, 2015 Washington, DC 中文
    China Faces the Kiss of Debt

    Confronted by the 2008 global financial crisis, China unleashed an unprecedented economic stimulus package that included rapid growth in credit to enterprises and local governments. In other countries, large increases in debt have usually been followed by sharp growth slowdowns, and many ended in crisis.

  • May 28, 2014 Washington, DC 中文
    One Year After Sunnylands: Assessing the U.S.-China Relationship

    President Obama’s recent visit to Asia underscored the importance of the U.S.-China relationship and the challenge of managing it in the context of increasing interdependence, but also tension and mistrust.

  • May 21, 2014 Washington, DC 中文
    Will China’s Economy Crash?

    China’s growth rate continues to slide. Many observers see its surging debt and housing indicators as signaling an imminent financial crisis and the inevitability of a hard landing. How likely is this to occur, and can the new leadership engineer a more sustainable growth path?

  • January 28, 2014 Washington, DC 中文
    China’s Growth Prospects After the Third Plenum

    It remains to be seen whether the third plenum decisions can put China on a sustainable and robust growth path.

  • November 7, 2013 Washington, DC 中文
    China’s Economy in Transition

    Much has been made of China’s recent internal and external rebalancing.

  • July 16, 2013 Washington, DC 中文
    China’s New Growth Model: Myths and Realities

    Lessons from other successful developing countries suggest that China’s path to growth may involve continued imbalances and require policy reforms that are often misunderstood.

  • November 30, 2012 Washington, D.C. 中文
    Russia and China in the Global Economy

    Russia and China are facing new challenges as they engage the new globalized marketplace. What can they learn from each other as they try to increase human capital and develop knowledge-based economies?

  • September 27, 2012 Washington, D.C. 中文
    China’s Economic Slowdown and its Policy Implications

    There is increasing concern that China’s economic slowdown is intensifying. However it turns out, this slowdown is occurring at a particularly inopportune time for China—just as the next generation of leaders is being anointed.

  • March 21, 2012 Washington, D.C.
    Assessing the National People's Congress

    The Fifth Session of the Eleventh National People’s Congress (NPC) has added significance given the impending anointment of China's next generation of senior leaders at this fall's National Congress of the Communist Party.

  • February 13, 2012 Beijing 中文
    The China Conundrum

    No country generates as many different economic forecasts and interpretations than China. Some analysts claim that China is an unstoppable economic power, while others warn that China’s economic growth is unstable, unbalanced, and unsustainable.

Source: http://carnegieendowment.org/experts/index.cfm?fa=expert_view&expert_id=533

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