Oct 24

According to an op-ed by Paul Krugman in the NY Times today, China is not only a currency manipulator, but also a cause of the world financial crisis. I usually have some respect for Mr. Krugman, so I’ll try to take his op-ed seriously. Continue reading »

Jul 15

This is the full session between Niall Ferguson and James Fallows at the recently held Aspen Ideas Festival. Allen had posted excepts and we promised you the complete discussion as soon as it became available. Niall Ferguson had coined the term “Chimerica” to describe the symbiotic relationship between the economies of China and the United States. He currently sees this relationship as being in jeopardy, while James Fallows feels the relationship is far stronger the most realize. This video is slightly over 75 minutes.

Continue reading »

Mar 27

In response to Steve’ question on what is the difference between Chinese version of capitalism and American version of capitalism, I think there are many.  The most important, I think, is the respective role of government, market in running / in governing the economy.  Another important aspect, I think, is the goal of economic prosperity.  China takes a more “holistic,” perhaps results-oriented  view to economic prosperity whereas America tend to take (historically at least) a more “individualistic,” equal-opportunity point of view. Continue reading »

Feb 09

Tim Geithner Calls Wang Qishan, But Why

Written by: guest | Filed under:-guest-posts | Tags:
1 Comment » newest 2013-05-01 22:26:21

It’s reported US Treasury Secretary Tim Geithner called his Chinese “counterpart” Vice Premier Wang Qishan.

There is a problem there. Geithner’s counterpart should be Finance Minister Xie Xuren.

From President Obama to Treasury Secretary Geithner, it’s only one level down.

From President Hu Jintao to Geithner’s real counterpart Xie, there are two more levels: Premier Wen Jiabao and Vice Premier for Trade
and Finance.

I won’t want to cut out Premier Wen’s job because China is too big. But I’ll definitely cut Vice Premier Wang Qishan out of the equation.

Jan 26

minipost-Something to chuckle about #2

Written by: DJ | Filed under:-mini-posts | Tags:, ,
27 Comments » newest 2009-01-31 16:04:38

Apparently, at least one of the columnists at the Washington Post reads this blog. Sebastian Mallaby, a veteran from the Economist and contributor to Foreign Affairs, Foreign Policy, Prospect, the National Interest, the New York Times, Policy Review, Slate and the New Republic, and specializing in globalization, trade, investment trends, international development and economic policy, has apparently taken my advice for Tim Butcher to heart. Mr. Mallaby decided to follow up with Tim Geithner’s recent and much discussed comment about China’s  “manipulation of currency” and penned a piece that’s not safe for your computer if you are drinking coffee while reading it.
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Oct 29

minipost-(Letter) The Global Financial Crisis and China

Written by: guest | Filed under:-guest-posts, -mini-posts | Tags:, ,
1 Comment » newest 2011-05-25 20:40:06

Wall Street banks and mortgage companies went down first. Then down followed European banks. The nation of Iceland went bankrupt.

Stock markets around the world dropped. China’s was no exception. Continue reading »

Oct 25

A friend directed me to this joke today. I vaguely remember hearing something similar years ago, but this version is now much more interesting because of a new/amended moral of the story, which addresses the Chinese investors but is perhaps just as relevant globally. Continue reading »

Oct 24

In a Q & A with Michael Spence, Nobel Laureate in Economics 2001, on the U.S. economic crisis on Squawk Box at CNBC, Spence makes some notable comments on China’s management of its economy and its responsible actions on the global economic stage. Continue reading »

Oct 08

Lessons for China from the world financial crisis

Written by: Nimrod | Filed under:Analysis | Tags:, ,
46 Comments » newest 2008-10-14 18:40:00

With Iceland close to bankruptcy and the world’s financial system going to hell, China stands somewhat apart in its relative isolation. Asia Times has an intriguing article on this:

“In the past, China has been blamed for the low-degree of internationalization of its financial industries. Now it seems we are profiting from this ‘fault’,” the commentary said.

Many Chinese economists share this view. “Our not-fully-open financial system and not-fully-convertible currency saved China from being rattled during the 1997 Asian Financial Crisis. And now again this seems to be a strong dam to protect us against the current financial tsunami,” an economics researcher with the Chinese Academy of Social Sciences (CASS) said.

“It is evident that the financial industries cannot become entirely market oriented. The semi-market, semi-government-control system may prove a better [system]. The problem in China is that the part of government control is too big and thus reforms are needed to deregulate.”

In early September, Steven N S Cheung, a Hong Kong-born Chinese-American economist living in exile in China, being wanted by the US government for alleged tax evasion, claimed that China “has formed the best system in the history of human kind”.

Continue reading »