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Shang-Jin Wei
How can the world’s growth engine do better?
By Shang-Jin Wei - Apr 21,2024
NEW YORK — The global economy demonstrated remarkable resilience in 2023, as the United States defied expectations and managed to avoid a recession. India, Vietnam and Japan also achieved impressive economic performance given the circumstances.
Containing the collateral damage of America's China policy
By Shang-Jin Wei - Jul 11,2023
NEW YORK — The United States’ recent restrictions on Chinese exports and direct investment in China are likely to cause substantial collateral damage to the Chinese economy, raising the risk of conflict.
A reality check for the renminbi
By Shang-Jin Wei - Apr 11,2023
NEW YORK — After years of speculation and false starts, it seems that the internationalisation of the renminbi is well underway. On March 29, China and Brazil announced plans to trade using their own currencies, rather than the US dollar.
Can China save its economic miracle?
By Shang-Jin Wei - Jan 09,2023
 NEW YORK — China’s recent decision to abandon its strict zero-COVID policy has led many to believe that its economy will bounce back. The Economist Intelligence Unit, for example, has revised its forecast for Chinese GDP growth in 2023 upward, to 5.2 per cent.
Life, liberty and lost output
By Shang-Jin Wei - Dec 08,2022
NEW YORK  —  The anti-quarantine protests that erupted across China last month highlight the gulf between the Chinese people and Communist Party leaders regarding the necessity of the strict zero-COVID policy.
Is the benefit of China's zero-COVID policy worth the cost?
By Shang-Jin Wei - Oct 16,2022
NEW YORK  —  Before COVID-19 vaccines were developed and distributed, China’s strict approach to controlling the virus resulted in fewer deaths and a much lower death rate per million people than in many other countries.
Liz Truss vs. the Bank of England
By Shang-Jin Wei - Oct 06,2022
NEW YORK  —  Following a week of financial-market turbulence, UK Prime Minister Liz Truss was forced to scrap her plan to abolish the 45 per cent top income-tax rate for high earners.
The risk of competitive interest-rate hikes
By Shang-Jin Wei - Sep 12,2022
 NEW YORK  —  The world is facing the risk that major central banks will undertake competitive interest-rate hikes that may look desirable for their countries individually but could drag the world economy into an unnecessary recession.
Three better alternatives to Biden's gasoline tax holiday
By Shang-Jin Wei - Jul 04,2022
NEW YORK  —  US President Joe Biden has proposed a three-month suspension of the 18.4 cents-per-gallon federal tax on gasoline.
Making higher oil prices a win for American households
By Shang-Jin Wei - Jun 23,2022
NEW YORK  —  The United States exports more petroleum than it imports. As a result, the country as a whole benefits from the recent spike in global oil prices.

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