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Hu Yuwei: Western economics fails to explain China
Theoretical innovation is a result of the emergence of new phenomena that cannot be explained by the existing theories. However, in their attempts to explain China`s economic growth by Western theories, economists have made inaccurate judgments over China`s economy in recent years. How will Chinese economic theories influence the world in the future? Are Chinese experiences more suitable for developing nations? The Global Times (GT) talked with Yuwei Hu (Hu), a research fellow at Chongyang Insti
2016-03-14 -
Wang Yanhang: Moody’s inability to understand complexity of China’s economy
Even though Moody`s has established its reputation, whether its ratings are authentic is wholly up to the market to decide. Moody`s should understand the Chinese development model more deeply and note that it is very difficult to restore a damaged reputation.
2016-03-14 -
Dong Ximiao: Apple Pay Aims to Dethrone Alipay
“Apple needed the inter-bank transaction system that Union Pay already runs. The company brought them access to more than 10 million Chinese credit card holders,” said Dong Ximiao, a visiting research associate in Chongyang Institute for Financial Studies in Renmin University of China.
2016-03-11 -
Hu Yuwei: Supply-side reform to inject new impetus to Chinese economy
Supply-side structural reform has drawn wide attention at home and abroad as China moves to address the issues of excess capacity, massive property inventory, and "zombie" enterprises with poor profitability.
2016-03-11 -
John Ross: Why China can achieve its 6.5% growth rate target
China announced GDP growth target of at least 6.5% during the 13th Five-Year Plan in 2016-2020 and 6.5%-7.0% for 2016 at the National People`s Congress. Some Western economists claim such targets cannot be achieved. In fact, analysis of supply-side factors, which will primarily be relied on to achieve this goal, shows clearly why China can achieve its 6.5% minimum growth target.
2016-03-11 -
Hu Yuwei: Concerns over China’s plans to allow rise in budget deficit should not be overstated
China observers are concerned that the unprecedented fiscal deficit arrangement could increase the country`s fiscal risks. I tend to believe the 3 percent fiscal deficit ratio is only a short-term target, and there`s nothing odd about it.
2016-03-09 -
Chen Yulu: Devaluation not in China`s interests
China`s central bank`s deputy governor said devaluating the yuan does not serve China`s best interests.
2016-03-09 -
John Ross: The giant consequences of China’s 6.5%-7.0% growth target
The economy tops the agenda at this year`s National People`s Congress (NPC) with a focus on both prospects for 2016 and the 13th Five Year Plan for 2016-2020. Discussion on both was framed by two major events. On March 4, Chinese President Xi Jinping made key statements on China`s long term economic strategy while attending a panel discussion at the annual meeting of the Chinese People`s Political Consultative Conference (CPPCC). On March 5, Premier Li Keqiang delivered the government`s work rep
2016-03-08 -
Researcher calls for China`s deepened reform
China should deepen reform by upgrading or restructuring unproductive firms, launching flexible exchange rates and liberalizing its capital accounts under the stimulus plans offered by the latest fiscal and monetary policies.
2016-03-08 -
Hu Yuwei: There`s no basis for yuan depreciation in long run
China does not want a currency war, which hurts everyone; instead, the currency will fluctuate within a managed range
2016-03-07 -
John Ross: China doomsayers misunderstand how socialist economies work
The most fundamental reason claims that China will suffer a "hard landing" invariably turn out to be false is because they do not understand the consequences of the fact China is not a capitalist country. "Hard landings" occur in such economies because all major companies are privately owned and the state therefore has no ability to stop the investment collapses which cause "hard landings."
2016-03-07 -
Zhao Minghao: Africa and China need each other to grow
China and Africa urgently need to seize the development opportunities they offer to each other. A more balanced partnership with enormous potential is emerging. Since 2000, the trade volume between China and Africa has increased 30 fold from nearly $10 billion to almost $300 billion. Till 2020, the figure may reach $400 billion, which equals to the trade volume between China and Europe.
2016-03-04 -
Liu Zhiqin: Maintaining growth not an impossible task for China
As China`s top political advisory body convened its annual meeting Thursday and with the country`s top legislature set to begin Saturday, public attention seems to be focused on how local governments are setting their GDP targets for 2016.
2016-03-04 -
Chen Dingding: Could a Donald Trump Presidency Improve US-China Ties?
Chinese netizens actually quite like Donald Trump and think he could improve U.S.-China ties.
2016-03-02 -
Hu Yuwei: G20 Meeting Enhances Confidence in Economy
A meeting of Finance Ministers and Central Bank Governors from the world`s twenty largest economies has concluded in China. The G20 meeting in Shanghai was held against the backdrop of a slow-down in the Chinese economy, which has led global economists to adjust their outlooks.
2016-03-01 -
Wang Yiwei: Belt and Road Initiative serves common development
Wang, director of the Institute of International Affairs at Renmin University of China, said that some discussions were misleading as the initiative was sometimes misinterpreted as a Chinese version of the Marshall Plan and China’s efforts in this regard were viewed as intended to influence the Asia-Pacific region.
2016-02-25 -
Liu Zongyi: India should avoid division within BRICS
Currently, divisions in monetary policy are particularly sharp among major economies. After the Federal Reserve Board raised interest rates, emerging economies including BRICS are seeing capital outflows. Meanwhile, geopolitical competition in the Middle East and Europe, as well as rising terrorism threats, is influencing the world economy, to which BRICS is not immune.
2016-02-25 -
Dong Ximiao: As Apple Pay Debuts in China, A State-Run Newspaper Voices Support
Compared with foreign-made bank card and ATM machines, Apple Pay is much less involved in the core of the payments.
2016-02-24 -
Wang Wen: Both Iran, Pakistan stand to benefit from One Belt, One Road
During Chinese President Xi Jinping`s recent visit to the Iranian capital of Tehran in January, the two countries agreed to cooperate in a number of areas including energy, transportation, railways and ports. The new development raised some concern in the Pakistani media that the China-Pakistan Economic Corridor (CPEC) could face some competition from Iran. Experts interviewed by the Global Times disputed the notion. They said the lifting of international sanctions against Iran could help boost
2016-02-23 -
Liu Zhiqin: China’s transition can keep global recovery on track
In China, we should focus our capital and efforts on developing the "intelligent industry" that will become our main engine to lead our economy forward. China should shift its role as a "hard engine" of consumption of resources to a "soft engine" by providing various technologies and smart know-how to meet the global demand.
2016-02-19
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