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Yu Yongding
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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