Dr. Albert Keidel
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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.
Source: The Diane Rehm Show

Keidel insisted that insolvent banks should be punished to discipline the financial system. He explained that the world is relying on an American recovery, with the exception of China, which has proven to support its own economic growth. Keidel concluded that recent events have their origins in Congressional policy during the 1990s, which "starved" regulatory agencies such as the Securities and Exchange Commission.
Click here to listen to Albert Keidel on the Diane Rehm Show.
About the Author
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.
- As China's Exports Drop, Can Domestic Demand Drive Growth?Article
- China’s Fourth Quarter 2008 Statistical RecordArticle
Dr. Albert Keidel
Recent Work
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
More Work from Carnegie Endowment for International Peace
- Who Paid for China’s Last Debt Cleanup, and Who Will Pay for the Next?Commentary
China’s banking crisis in the 2000s was resolved by transferring the costs to households through financial repression—a decision that recapitalized the banks while exacerbating the structural imbalances that continue to shape the Chinese economy today.
Michael Pettis
- Caught in the Middle: Chinese Biotech Firms’ Divergent Responses to U.S. SanctionsCommentary
Chinese biotech companies have been on the receiving end of U.S. economic coercion. Yet their responses have differed significantly because firm and state interests are not uniformly aligned. For Washington, treating all Chinese tech firms the same, irrespective of their actual interests, risks pushing them farther into Beijing’s corner.
Xue Gong
- Inside the Global Race to Erode a Battery Manufacturing MonopolyCommentary
Over the past decade, China has moved from marginal player to major producer of all things batteries. The United States, Europe, and others are aiming to balance the market.
Milo McBride
- A Geothermal and Nuclear Strategy for the U.S. International Development Finance CorporationPaper
The DFC should focus on advanced, low-carbon energy sources, prioritizing areas where the United States has comparative advantages.
Noah Gordon, Liana Schmitter-Emerson
- Why Korea’s President Skipped Washington for Silicon Valley and BrasíliaCommentary
Lee’s tour shows how Seoul is reorganizing its diplomacy away from Pyongyang and toward industrial networks and the geography of the compute economy.
Darcie Draudt-Véjares