Reducing America’s persistent trade deficits with China will require addressing thorny structural issues. In the short term, the focus should be on investment-related concerns.
China generates widely varying views on its economic and political prospects. This book is about why there are such differences and why the conventional wisdom is so often wrong.
The upcoming U.S.-China Comprehensive Economic Dialogue will be a meeting characterized by many contrasts.
Brussels and Tokyo are stepping up at a time when Washington is retrenching from its traditional leadership role on global trade issues.
Political and economic trends point to increased protectionist sentiment in the United States and heightened tensions between the United States and China.
The United States is becoming less relevant across Asia, especially with respect to trade and capital flows. On connectivity and transit issues, Washington has been asleep for a long time.
Policies that increase income inequality can in some cases lead to higher savings, higher investment, and greater long-term growth. But, in other cases, such policies either reduce growth and increase unemployment or force up the debt burden. What determines which of these outcomes takes place is whether or not savings are scarce and have constrained investment.
Asia in the twenty-first century is going to be a key test bed of the commercial peace theory and whether the U.S.-China strategic rivalry will result in some type of a conflict.
Whether regulators can succeed in reining in credit creation this time is ultimately a political question, and depends on the central government’s ability to force through necessary reforms.
A number of Chinese companies are trying to shore up their stock prices with programs that encourage employees to buy shares and ensuring them against losses. These programs have implications about leverage in China and about the way losses may be distributed within the banking system.