Tag: China

Growth and Rebalancing: Jan Kregel on China’s Economy

Growth and Rebalancing: Jan Kregel on China’s Economy

The upheaval in Chinese interbank markets last week has prompted many to take a closer look at growth drivers and credit dynamics in China. Recent events have not come as a surprise to all, however. Some noted fund managers, such as Hugh Hendry and Jim Chanos, have been highly skeptical of the “China as the engine of global growth” […]

Tremors in the Chinese (Shadow) Banking system

Tremors in the Chinese (Shadow) Banking system

In a white paper published earlier this year, asset manager GMO argued that China’s credit and banking system is looking increasingly fragile. A key point made by the authors is that China has experienced de facto liberalisation of its financial sector, which, for decades, has been under tight state control. The explosion of the shadow banking […]

Chinese Growth and the Question of Economic Rebalancing

Chinese Growth and the Question of Economic Rebalancing

As far back as 2007, then premier Wen Jiabao described the Chinese economy as “unstable, unbalanced, uncoordinated and unsustainable”. Although the statement raised eyebrows at the time, Mr. Wen’s words seem to have done little to temper the optimism-infused consensus on China’s expected growth rate in the coming years.  One reason for this (apart from […]

Reflections on the Middle Kingdom

Reflections on the Middle Kingdom

John Garnaut, Fairfax media’s foreign correspondent in China, has for the past few years produced some of the most insightful analysis of Chinese politics. His work offers a valauble window into the many tensions at the heart of the Chinese “miracle” of recent decades: the embrace of state capitalism under a veneer of socialist rhetoric; gradual economic […]

A Perspective on Housing Bubbles in Asia

A Perspective on Housing Bubbles in Asia

As we have seen in recent years in developed economies, housing bubbles can wreak serious economic havoc as they burst. While this problem is often seen as one affecting mainly developed countries (US, UK, Spain, Ireland), economist Jayati Ghosh points out that it is, however, just as possible for debt-driven private consumption bubbles to burst […]

EU Officially Imposes Tariffs on Solar Imports from China

EU Officially Imposes Tariffs on Solar Imports from China

The European Commission’s plans to impose heavy duties on solar technology imports from China will proceed despite staunch opposition from the majority of EU member states, including Germany. Precise details concerning the duties will be released today and are expected to come into force tomorrow, June 6th 2013. However, in attempt to foster continued dialogue […]

EU-China Solar Industry Trade Dispute

EU-China Solar Industry Trade Dispute

Last year, German solar panel manufacturer SolarWorld AG filed a complaint with the European Commission against their Chinese competitors. This came after the company’s US subsidiary, SolarWorld Industries Americas, launched two similar petitions in the United States. These were submitted on behalf of the Coalition of American Solar Manufacturers, an alliance of seven companies which […]

“The Death-Sprial of Mercantilism” A perspective on the current global macro environment

“The Death-Sprial of Mercantilism” A perspective on the current global macro environment

Hendry writes: “We still see the global economy grotesquely distorted by the presence of fixed exchange rates, the unravelling of which is creating financial anarchy, just as it did in the 1920s and 1930s. Back then the relevant fixes were around the gold standard. Today is it the dual fixed pricing regimes of the euro countries and […]