After 117 consecutive months of economic expansion, the U.S. could soon find itself thrown back into a painful recession, owing to disruptions caused by its own trade policy.
For Andrew Sheng's latest contributions to The Japan Times, see below:
U.S. elites have spent decades creating the conditions for a figure like Trump to emerge.
Chinese President Xi Jinping has waged a relentless fight against corruption, but the war is far from won.
Market optimism about U.S. growth could lead to ever-larger imbalances and possibly disrupt the international monetary system.
China's transformation into a consumer society is good news for the future of the global economy.
The battle over the renminbi's exchange rate reflects growing tension between the interests of the "financial engineers" (such as the managers of dollar-based hedge funds) and the "real engineers" (China's policymakers).
Effective communication with market participants and real-economy players will be crucial if China is to achieve market credibility and stability.
China's leaders must cope with an asymmetry between what they can deliver and what consumers demand.
China now faces the same debt-deflation challenge that much of the rest of the world must address. The question, of course, is how.
With President Xi Jinping's anti-corruption drive chipping away at the culture of personal gain among Chinese officials, now is the time to press ahead with structural reforms, not back away from them.