Chinese Reforms at a ‘Critical Juncture’

The increasingly volatile global markets set the scene for Premier Li Keqiang’s press conference on the last day of the National People’s Congress annual session. Li reiterated what he had already said in the Government Work Report: China has reached a “critical juncture where our path upward is particularly steep”. As Li sees it, the […]

OECD PISA Debate: Who Is Cheating Who?

As evidenced by the new OECD PISA results, the dramatic ascent of the emerging nations in education and skills reflect the broader new deal in global innovation. “China is cheating the world student rankings system,” lamented the recent Time magazine. Held every three years, the 2012 results of the OECD’s global PISA exams showed the […]

Hong Kong Blues

For three decades, Hong Kong has thrived economically. As the city-state ponders its political path, its economic future is at crossroads. For three decades, Hong Kong has thrived economically along with the Chinese mainland. Now its economic future is at a crossroads. According to a poll conducted by South China Morning Post, Hong Kong residents […]

No ‘Hard Landing’ for Chinese Economy

No “hard landing” for Chinese economy In the development economics there is a popular term of “hard landing”. It is contrasted with the “soft landing” defined as descending gradually and softly from high output growth levels, especially when the growth is related to an overheated economy. Hard landing means facing different realities as a result […]

China’s New Grand Strategy

For the first time since the 1980s, Beijing is redefining China’s grand strategy. In the 1980s, Deng Xiaoping’s economic reforms and opening-up policies enabled China to industrialize through investment and export-led growth. After Beijing’s Third Plenum, the new grand strategy by President Xi Jinping and Premier Le Keqiang allows China to move toward post-industrial society […]

Sino-Bangladeshi Cooperation: The Rise of South Asia’s Economic Corridor

Despite escalating strife in Bangladesh, Dhaka and Beijing are intensifying plans for an economic corridor. It has an important role in China’s regional strategy and South Asia as a whole. Recently, Bangladesh’s foreign minister Dipu Moni met his Chinese counterpart Wang Yi in Beijing to push forward the Bangladesh-China-India-Myanmar (BCIM) Economic Corridor. The initiative follows […]

Chinese Yuan on the Rise

The preliminary results from the BIS triennial survey for 2013 are out. There are a lot of interesting results, but one I want to flag is that the Chinese yuan is increasingly used in forex transactions. Figure 1: Share of total foreign exchange transactions accounted for by CNY, in percent, April 2013. Source: BIS, Table 2. Dashed line indicates […]

China Continues Corruption Probe into Top State Officials

As part of a giant investigation into graft (bribery and corruption) amongst China’s major, state-owned companies, the ruling Communist Party has just dismissed Jiang Jiemin, the head of the commission that oversees the state-owned companies On Sunday government officials announced that their investigation would focus on Jiang, and by Tuesday the director and deputy chief of the Cabinet’s […]

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