Search Results
Journal Article
China’s economic emergence
China is no longer the sleeping giant of yore. The country is showing its rapidly growing economic clout especially in the trade arena, where it has become the world?s third-largest trading nation.
Working Paper
Nominal and real disturbances and money demand in the Chinese hyperinflation
This paper reexamines the dynamics of hyperinflation by allowing variability in the relative price of capital goods in units of consumption goods that reflects interactions between the real and monetary sectors. The theory generates empirically testable implications that suggest expanding the standard Caganian money demand function to include both anticipated inflation and relative price effects in a nonlinear fashion. Employing data from the post-World War II Chinese hyperinflationary episode, the empirical findings suggest that conventional econometric investigations of money demand during ...
Journal Article
The economic rise of China: threat or opportunity?
China's economy is opening up to the outside world. This worries those who fear the huge pool of low-cost labor will drain jobs from U.S. shores, and less expensive goods will spark trade problems. The author points out that China's untapped market presents huge opportunities for U.S. businesses that would surely outweigh any loss of jobs, and also that the sort of jobs that would move to China left the U.S. a long time ago. And with respect to fair trading practices, China has made much progress.
Journal Article
China's slowdown may be worse than official data suggest
To get a more accurate picture of China's economy, economists examine other measures of activity that closely track growth but are less prone to political interference than output data. Industrial electricity consumption, a major production input, serves as such a proxy.
Journal Article
China and India: two paths to economic power
The two Asian giants have achieved rapid and sustained growth -- China by focusing on goods, India by tilting toward services.
Speech
The economic predicament of the United States and the Federal Reserve's response in a globalized world
Remarks before Tsinghua University's School of Economics and Management, Beijing, China, April 17, 2009. ; "The Federal Reserve is in the process of acquiring the tools to short-circuit any inflationary consequences of its balance sheet growth."
Speech
A perspective on China
"In contemplating China, we need to look past carefully crafted images and deepen our understanding of her national interest. Failure to do so will be perilous." ; Remarks to a Working Dinner Sponsored by the Progress & Freedom Foundation, Aspen, Colorado, August 18, 2008.
Periodic Essay
China: an evolving housing market
Journal Article
Is China due for a slowdown?
Many analysts have predicted that a Chinese economic slowdown is inevitable because the country is approaching the per capita income at which growth in other countries began to decelerate. However, China may escape such a slowdown because of its uneven development. An analysis based on episodes of rapid expansion in four other Asian countries suggests that growth in China?s more developed provinces may slow to 5.5% by the close of the decade. But growth in the country?s less-developed provinces is expected to run at a robust 7.5% pace.
Journal Article
Reflections on China's economy
This Economic Letter is adapted from remarks delivered to the International Financial Institutions Association of California and the National Association of Chinese American Bankers in Santa Monica, California, on October 15, 2004.