Trust Me

I mentioned in a recent blog post that a reporter had called me up to ask “what I thought about a Hong Kong-listed baby formula producer that was loading up on loans and relending the money to non-ferrous metals, tungsten, and highway companies.”  That reporter — I can now disclose — was Shai Oster from Bloomberg, who […]

Currency Confrontation

This week, the U.S. Senate considered a bill that threatens to impose broad-ranging sanctions on China unless it revalues its currency.  The Senate vote on the bill — which looks like it may have enough support to pass — had been planned for Thursday evening, but ran into partisan maneuvering, and is now expected to take place early […]

China: Economy on the Edge of a Nervous Breakdown

I just returned from a trip to New York, where earlier last week I gave a talk at the Council on Foreign Relations.  The topic was the question on everyone’s mind these days:  the outlook for China’s economy. Over the past several weeks, a number of news reports and market figures have caught my attention, which appear […]

Can China Rescue Italy?

On Wednesday, I went on Bloomberg TV to talk about the rumors that China might step in and buy Italian bonds, in effect rescuing the EU economy from the latest stage in its ongoing debt crisis.  Later in the week, Fareed Zakaria argued that by using its vast ($3 trillion plus) foreign currency reserves to […]

Signs of Continuing China Inflation

Economists have been virtually universal in their prediction that Chinese inflation would peak this summer — so much so that I’ve felt like a pretty lonely skeptic.  As far as I can tell, the forces that have been driving prices upwards for the past 18 months remain essentially unchanged, and are likely to continue. The […]

BBC: How Vulnerable Is China?

The BBC today asked me to comment on how prepared Asia — and China in particular — is to survive a second economic downturn in Europe and the United States.  Here’s what I had to say: For the past year, ever since the eurozone crisis started to unfold, and it became clear the US was experiencing […]

Victor Shih and Carl Walter on China’s Banks

Recommended reading – or in this case, viewing — for this week is a series of video interviews sponsored by G+ with Victor Shih, of Northwestern University, and Carl Walter, co-author of Red Capitalism, on China’s banking system.  You can watch Part 1, Part 2, Part 3, and Part 4 by clicking on the appropriate links.  […]

CCTV News: Can China Drive Global Growth?

Nouriel Roubini had a syndicated column the other day that painted an awfully bleak picture of the outlook for the global economy.  He sees precious little prospect of growth coming from the advanced economies of Europe and the U.S.  So can China pick up the slack, and help drive a global recovery?  That’s the question […]

NPR: Will China Dump U.S. Debt?

With the political clash over the U.S. debt ceiling in full swing this week, I’ve been inundated with people asking variants of the same question:  with the U.S. in (temporary) danger of defaulting, will China, which holds at least $1.2 trillion worth of U.S. Treasuries, finally get fed up and dump its share of the U.S. national […]

Propaganda Instructions on Wenzhou Train Crash

The website Ministry of Truth (banned in China) regularly publishes the censorship directives issued to China’s state-run media by the Communist Party’s Propaganda Department — which makes it an incredibly revealing guide to what’s actually going on in China, what topics or information authorities feel are “too sensitive” for people to know about. The instructions concerning Saturday’s deadly high-speed rail […]

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