Dr. Albert Keidel

Former Senior Associate
China Program
Keidel served as acting director and deputy director for the Office of East Asian Nations at the U.S. Department of the Treasury. Before joining Treasury in 2001, he covered economic trends, system reforms, poverty, and country risk as a senior economist in the World Bank office in Beijing.


B.A., Princeton University; Ph.D., Harvard University; Post-doctoral fellow, Faculty of Economics, Tokyo National University


French; German; Japanese; Mandarin Chinese


This person is no longer with the Carnegie Endowment.

Albert Keidel joined the Carnegie Endowment in September 2004, after serving as acting director and deputy director for the Office of East Asian Nations at the U.S. Department of the Treasury. His work at the Endowment focuses on issues relating to China’s economic system reforms, macroeconomy, regional development, and poverty reduction strategy.

Before joining Treasury in 2001, he covered economic trends, system reforms, poverty, and country risk as a senior economist in the World Bank office in Beijing. Keidel has worked in China, Japan, and Korea and taught graduate economics courses on China, Japan, and economic development. He currently teaches a Georgetown University graduate course on China’s economy.

Featured Publication:
"China’s Economic Rise—Fact and Fiction," Carnegie Policy Brief (July 2008)
"China’s Economic Rise—Fact and Fiction," Technical Note (July 2008)

  • Article April 15, 2009
    As China's Exports Drop, Can Domestic Demand Drive Growth?

    China’s financial system is healthy, and its leaders are providing a swift and strong economic stimulus, but no one knows how far global trade will fall.

  • China’s Fourth Quarter 2008 Statistical Record
    Article January 22, 2009 中文
    China’s Fourth Quarter 2008 Statistical Record

    China's recently released economic data for 2008 reveal a mixed economic picture: although weakened trade, declining rural incomes, low prices, and high interest rates are cause for concern, strong growth in agriculture, investment, retail sales, and urban household incomes bodes well for a recovery in 2009.

  • Albert Keidel
    Op-Ed Les Echos December 22, 2008
    Avec la crise, l'économie chinoise pourrait rattraper celle des Etats-Unis avant 2030

    Les Echos interviewait récemment Albert Keidel, chercheur au Carnegie Endowment, quant à la crise économique. Il affirme que les autorités chinoises devraient encourager la consommation intérieure et les investissements domestiques et aborder la grogne sociale de manière équilibrée en distinguant bien les doléances légitimes des autres qui le sont beaucoup moins.

  • Albert Keidel
    Op-Ed Les Echos December 19, 2008 Français 中文
    With the crisis, the Chinese economy could catch up with the United States' by 2030

    Les Echos recently interviewed Albert Keidel, a researcher at the Carnegie Endowment, about the economic crisis. He asserted that the Chinese authorities should encourage domestic consumption and domestic investment and address social unrest in a balanced manner by distinguishing legitimate grievances from those that are not legitimate.

  • Albert Keidel
    Op-Ed Review of Income and Wealth December 19, 2008 中文
    Chinese Regional Inequalities in Income and Well-Being

    Comparison of China’s major regions shows large disparities in GDP per capita. Over the last 20 years, and the five-year period between 2000-05, Chinese rural income and consumption disparities have increased significantly compared to urban areas.

  • Albert Keidel
    Op-Ed South China Morning Post December 5, 2008 中文
    China's Vital Role in Defeating Protectionism

    By whatever means necessary, China needs to reduce its global trade surplus dramatically -- ideally to zero and below by sometime in 2010. China's exports will most probably continue to grow, even if modestly. Hence, China must put its late-phase World Trade Organisation mechanisms into high gear and open import channels wide, especially for consumer goods.

  • Albert Keidel
    Article November 10, 2008
    China’s Stimulus Lesson for America

    China’s just-announced nearly $600 billion stimulus package is almost certainly overkill for China’s needs—China’s domestic demand expansion this year is too strong to warrant this much money spent any time soon. But the stimulus announcement is just in time to give a needed lesson to the U.S. government about what an effective stimulus package might look like.

  • Albert Keidel
    Testimony U.S.-China Business Council October 24, 2008
    China and the Global Financial Crisis

    China's economy will remain strong despite the current global financial crisis, but its leaders should not assume that the crisis is a failure of capitalism, concluded Albert Keidel in a speech before the U.S.-China Business Council last week. Both the United States and China can learn from the crisis to improve their political and economic systems.

  • Policy Outlook July 8, 2008
    China’s Economic Rise—Fact and Fiction

    China’s Economic RiseChina’s ascendency as the preeminent world commercial influence requires U.S. leaders to reassess a broad array of economic and military policies.

  • China’s Economic Fluctuations
    Report January 11, 2008
    China’s Economic Fluctuations: Implications for its Rural Economy

    China’s growth and inflation risks are not trade-related but are instead driven by domestic forces.

  • Albert Keidel
    Diane Rehm Show March 4, 2009
    Why Buy U.S. Debt?

    In light of the Obama administration's forecast that the government will borrow $3.7 trillion in the next two years, there are growing concerns over the willingness and ability of global investors to finance American debt.

  • Albert Keidel
    Washington Journal January 24, 2009
    China and the U.S. Economy

    Despite Treasury Tim Geitner's recent comments that China is manipulating its currency, it is difficult to assess China's monetary policies because its economy is in such flux.

  • Albert Keidel
    The Diane Rehm Show October 9, 2008
    The International Response to the Financial Credit Freeze

    The United States is witnessing, at least temporarily, the collapse of effective liquidity for the complex financial instruments that have long been used to conduct transactions. But the real crisis is a Keynesian downward spiral, whereby declining consumption and declining investment reinforce each other.

  • Albert Keidel
    The Diane Rehm Show September 25, 2008
    U.S. Financial Crisis and the Global Economy

    Although much of the world is relying on an American economic recovery to fend off a global recession, China has proven that it can support its own growth.

  • keidel
    BBC World Service's Newshour November 14, 2007
    New Analysis of China's Economy
  • The Diane Rehm Show March 5, 2007
    China's Rise
  • Keidel
    The Diane Rehm Show December 20, 2006
    Trade Deficits, Value of the Dollar and the Global Economy
  • Louis Kujis
    April 29, 2009 Washington, D.C.
    China's Economic Prospects: Outlook and Policy Challenges

    According to the World Bank, global economic growth is likely to contract by two percent this year. With export markets shrinking, many have questioned whether China’s domestic economy can supplement the revenue gap.

  • April 15, 2009 Washington, D.C.
    Does China's Financial Sector Jeopardize Economic Growth?

    The ninth debate in Carnegie's "Reframing China Policy" debate series, focused on China's financial sector

  • January 30, 2009 Washington, D.C.
    Is China's Economy Tanking? Understanding New Data

    China's GDP growth fell to 6.8% in the fourth quarter of 2008, raising concerns that its economy may be headed for a downturn.

  • November 14, 2008 Washington, D.C.
    How East Asians View Democracy

    Despite the growing global skepticism of Western-style democracy, citizens across Asia decisively reject authoritarian alternatives such as strong-man rule or military rule.

  • KC Kwok
    September 8, 2008 Washington, D.C.
    The Shape of China's Future Growth

    China is shifting its focus from growth to the broader goal of development, which includes a wide range of social and economic policy objectives.  To examine the nature and impact of that transition, Carnegie hosted an event with KC Kwok, chief government economist of China's Hong Kong Special Administrative Region.  Albert Keidel, senior associate at Carnegie, moderated the discussion.

  • Michael Swaine
    July 9, 2008 Washington, D.C.
    China’s Economic Rise—Fact and Fiction

    China’s economic size will match that of the U.S. by 2035 and double it in total GDP by midcentury, concluded Albert Keidel during a panel discussion with leading experts on China’s economy and military. Participants discussed the success and substantiality of China’s economic rise and addressed the U.S. and global implications of China’s long-term economic growth.

  • March 19, 2008 Washington, D.C.
    A Mid-Term Report of the Hu-Wen Government: Analyzing the Outcome of the National People's Congress

    In a talk moderated by Carnegie Senior Associate Albert Keidel, Minxin Pei, director of the Carnegie China Program and Wing Thye Woo, senior fellow at the John L. Thornton China Center at the Brookings Institution, discussed the implications of the recent National Party Congress.

  • presentation
    January 31, 2008 Washington, D.C.
    China’s ‘New Village’ Strategy – Actual Progress and National Impact

    China Program hosted a seminar to discuss China's latest agriculture policy. Moderated by Senior Associate Albert Keidel, this event featured guest speaker Hu Binliang from Chinese Academy of Social Sciences.

  • December 6, 2007
    China Modernizes: Threat to the West or Model for the Rest?
  • October 25, 2007 Washington, D.C.
    The End of an Era? Inflation Returns to China

    Carnegie Senior Associate Albert Keidel of the China Program presented his latest policy brief "China's Looming Crisis-Inflation Returns." Moderated and discussed by Nick Lardy from the Peterson Institute and Pieter Bottelier from Johns Hopkins University. 

Source: http://carnegieendowment.org/experts/index.cfm?fa=expert_view&expert_id=230

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