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Yu Yongding
By Yu Yongding - Aug 16,2015
At a time of slowing economic growth and massive corporate debts, a deflationary spiral would be China’s worst nightmare. And the risk is mounting.The producer price index (PPI) has been in negative territory for 39 consecutive months, since February 2012.
By Yu Yongding - May 27,2015
After four disappointing years, Chinese economists have realised that slowing GDP growth — from a post-crisis peak of 12.8 per cent in 2010 to about 7 per cent today — is mainly structural, rather than cyclical.In other words, China’s potential growth rate has settled onto a sign
By Yu Yongding - Dec 02,2014
Financial repression — government policies that create an environment of low or negative real interest rates, with the goal of generating cheap financing for public spending — has long been a key feature of Chinese economic policy. But with funding costs for business
By Yu Yongding - Jul 05,2014
The Nobel laureate economist Robert Mundell showed that an economy can maintain two — but only two — of three key features: monetary-policy independence, a fixed exchange rate, and free cross-border capital flows. But China is currently juggling all three — an



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