Shang-Jin Wei

a former Chief Economist of the Asian Development Bank, is Professor of Chinese Business and Economy and Professor of Finance and Economics at Columbia University


NEW YORK – The recent inversion of the yield curve in the United States – with the interest rate on ten-year US government bonds currently lower than that on short-term bonds – has raised fears of a possible US recession later this year or in 2020. Yet, paradoxically, a downturn in America could help to improve bilateral economic relations with China and cool the two countries’ escalating trade dispute.
03 сентября 2019 5 мин. 9058
CANBERRA – Trade negotiations between the United States and China have broken down because the US government says the Chinese were walking back their agreement on matters that had previously been addressed. US negotiators and President Donald Trump were furious, and on May 10, Trump more than doubled US tariffs on $200 billion worth of imports from China. The lead Chinese negotiator, Liu He, told reporters that, because a final agreement was not reached, revisions were not “walked back,” a line that the US side does not seem to buy. The Chinese government has now retaliated, announcing that it will raise tariffs on $60 billion worth of US goods
29 мая 2019 4 мин. 4298
NEW YORK – The real effective exchange rate (REER) may sound arcane to non-economists, but it is one of the most important international financial indices. The REER is a summary index that tracks the difference in the prices of goods produced by a country and its trading partners. Other things being equal, an increase in a country’s REER indicates a loss of trade competitiveness. And rising current-account imbalances are often associated with deviations in the REER from equilibrium values
26 апреля 2019 4 мин. 4523
NEW YORK – China is about to slash the employer contribution rate to the social-security fund from 18-20% (with some variation across regions) to 16%, and cut the value-added tax (VAT) rate from 16% to 13% (for most enterprises). This is on top of a previously announced reduction in the corporate income tax charged on the first CN¥3 million ($447,000) of taxable income. These policy moves are timely and useful in combating the downward pressure on economic growth, but they also raise the risk of a future debt crisis
10 апреля 2019 5 мин. 5221
China will benefit from a normalization of its trade relationship with the United States, but it is important to realize that the same holds true for the US
21 января 2019 5 мин. 5620
NEW YORK – The recent inversion of the yield curve in the United States – with the interest rate on ten-year US government bonds currently lower than that on short-term bonds – has raised fears of a possible US recession later this year or in 2020. Yet, paradoxically, a downturn in America could help to improve bilateral economic relations with China and cool the two countries’ escalating trade dispute.
03 сентября 2019 5 мин. 9058
China will benefit from a normalization of its trade relationship with the United States, but it is important to realize that the same holds true for the US
21 января 2019 5 мин. 5620
NEW YORK – China is about to slash the employer contribution rate to the social-security fund from 18-20% (with some variation across regions) to 16%, and cut the value-added tax (VAT) rate from 16% to 13% (for most enterprises). This is on top of a previously announced reduction in the corporate income tax charged on the first CN¥3 million ($447,000) of taxable income. These policy moves are timely and useful in combating the downward pressure on economic growth, but they also raise the risk of a future debt crisis
10 апреля 2019 5 мин. 5221
NEW YORK – The real effective exchange rate (REER) may sound arcane to non-economists, but it is one of the most important international financial indices. The REER is a summary index that tracks the difference in the prices of goods produced by a country and its trading partners. Other things being equal, an increase in a country’s REER indicates a loss of trade competitiveness. And rising current-account imbalances are often associated with deviations in the REER from equilibrium values
26 апреля 2019 4 мин. 4523
CANBERRA – Trade negotiations between the United States and China have broken down because the US government says the Chinese were walking back their agreement on matters that had previously been addressed. US negotiators and President Donald Trump were furious, and on May 10, Trump more than doubled US tariffs on $200 billion worth of imports from China. The lead Chinese negotiator, Liu He, told reporters that, because a final agreement was not reached, revisions were not “walked back,” a line that the US side does not seem to buy. The Chinese government has now retaliated, announcing that it will raise tariffs on $60 billion worth of US goods
29 мая 2019 4 мин. 4298
NEW YORK – China is about to slash the employer contribution rate to the social-security fund from 18-20% (with some variation across regions) to 16%, and cut the value-added tax (VAT) rate from 16% to 13% (for most enterprises). This is on top of a previously announced reduction in the corporate income tax charged on the first CN¥3 million ($447,000) of taxable income. These policy moves are timely and useful in combating the downward pressure on economic growth, but they also raise the risk of a future debt crisis
10 апреля 2019 5 мин. 5221 Репостов в соцсетях: 5
China will benefit from a normalization of its trade relationship with the United States, but it is important to realize that the same holds true for the US
21 января 2019 5 мин. 5620 Репостов в соцсетях: 3
NEW YORK – The real effective exchange rate (REER) may sound arcane to non-economists, but it is one of the most important international financial indices. The REER is a summary index that tracks the difference in the prices of goods produced by a country and its trading partners. Other things being equal, an increase in a country’s REER indicates a loss of trade competitiveness. And rising current-account imbalances are often associated with deviations in the REER from equilibrium values
26 апреля 2019 4 мин. 4523 Репостов в соцсетях: 3
NEW YORK – The recent inversion of the yield curve in the United States – with the interest rate on ten-year US government bonds currently lower than that on short-term bonds – has raised fears of a possible US recession later this year or in 2020. Yet, paradoxically, a downturn in America could help to improve bilateral economic relations with China and cool the two countries’ escalating trade dispute.
03 сентября 2019 5 мин. 9058 Репостов в соцсетях: 0
CANBERRA – Trade negotiations between the United States and China have broken down because the US government says the Chinese were walking back their agreement on matters that had previously been addressed. US negotiators and President Donald Trump were furious, and on May 10, Trump more than doubled US tariffs on $200 billion worth of imports from China. The lead Chinese negotiator, Liu He, told reporters that, because a final agreement was not reached, revisions were not “walked back,” a line that the US side does not seem to buy. The Chinese government has now retaliated, announcing that it will raise tariffs on $60 billion worth of US goods
29 мая 2019 4 мин. 4298 Репостов в соцсетях: 0

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