Commentary / World Sep 28, 2015

China had better avoid global debt-deflation trap

China now faces the same debt-deflation challenge that much of the rest of the world must address. The question, of course, is how.

Commentary / World Jul 24, 2015

China's live stress test yields valuable lessons

China's economy has succeeded through trial and error, and the lessons of its current stress test should be viewed as part of that process, to be used to drive the next phase of economic reform.

Commentary / World Jan 25, 2015

Looser credit policies for China's better cities

The best way to sustain China's economic transition and prevent a hard landing is to implement looser monetary and credit policies that enable the most productive cities, companies and industries to generate new added value.

Commentary / World Dec 23, 2014

High risks, rewards in Xi's reforms

Only by addressing the weakening of investment-led growth, bureacratic inefficiencies and worsening pollution, and then shifting to an innovation-based, environmentally sustainable growth model, can China continue to prosper and ultimately achieve high-income status.

Commentary / World Dec 2, 2014

The next phase of China's financial deepening

China's financial deepening is a market process. But it must be underpinned by a regulatory and policy framework that encourages risk-taking and innovation.

Commentary Oct 28, 2014

Time to end American financial repression

A generation of development economists owe Ronald McKinnon, who died earlier this month, a huge intellectual debt for his insight that governments like the U.S. that engage in free-market rhetoric to channel funds toward themselves hamper financial development.

Commentary / World Jul 8, 2014

Thomas Piketty with Chinese characteristics

As property prices have risen faster than wages and profits in manufacturing, China's top 1 percent income earners are accumulating wealth significantly faster than their counterparts in the rest of the world — and far faster than the average Chinese.