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China still has room to move on RMB
Author: Yu Yongding, CASS In the first quarter of 2014, the People’s Bank of China (PBoC) finally succeeded in breaking persistent renminbi (RMB) appreciation expectations. Unfortunately, the...
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The Trump test and the renminbi
Author: Yu Yongding, CASS Trump’s rhetoric during his campaign shows that he is seeking to turn back on established US policy towards China. Tough talk by his secretary of state, Rex Tillerson, and...
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Backpedalling or a step forward in renminbi reform?
Author: Yu Yongding, CASS In early 2016, the People’s Bank of China (PBOC) introduced a new rule for setting the renminbi central parity rate against the US dollar. Instead of the previous rule...
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China’s economy enters a new season of stability
Author: Yu Yongding, CASS Most Chinese economists believe that China’s growth has stabilised around 6.5 per cent (in line with its growth potential). The IMF echoes this view and expects the Chinese...
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US case against Chinese trade is fake news
Author: Yu Yongding, CASS No one wins in a trade war. Yet US President Donald Trump seems determined to pursue one with China, which he accuses of causing the United States’ trade deficit, violating...
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China must release the renminbi
Author: Yu Yongding, CASS China has had an inflexible exchange rate regime for many decades. Until 2015, China had a crawling-peg-like arrangement. On 11 August 2015, the People’s Bank of China (PBC)...
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Putting the brakes on China’s slowdown
Author: Yu Yongding, CASS China’s economic performance in 2018 was rather disappointing. According to official statistics, the country’s growth rate during the year was 6.6 per cent, the lowest since...
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China’s economic prospects call for stimulus
Author: Yu Yongding, CASS China’s annual GDP growth has been gradually falling since 2010 from over 10 per cent to nearly 6 per cent by 2019. Last November I argued it was time for China to stem its...
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China is struggling to contain the impact of Omicron and stabilise the economy
Author: Yu Yongding, CASS China’s GDP growth rate has been falling since the first quarter of 2010. After more than 40 years of breathtaking growth, it is not surprising that China’s economy has lost...
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Regional financial integration is unfinished business
Author: Yu Yongding, CASS Twenty-five years ago, the Asian Financial Crisis set back the economic progress made by East Asian countries by years, if not decades. The crisis was triggered by the crash...
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