Chinas policy responses to the global financial crisis yu. Incorporated as a notforprofit foundation in 1971, and headquartered in geneva, switzerland, the forum is tied to no political, partisan or national interests. Professor yu was until recently directorgeneral of the institute of world economics and politics at the chinese academy of social sciences in beijing, where he is a professor at the postgraduate school. Guillermo ortiz governor, bank of mexico 9809 finance minister 9498 10. Yu yongding attended beijing scientific technology college and oxford university in england. Yu yongding, a former president of the china society of world economics and director of the institute of world economics and politics at the chinese academy of social sciences, served on the monetary policy committee of the peoples bank of china from 2004 to 2006. Professor yu yongding is, in short, an academician of the chinese academy of social sciences cass, editor inchief, china and world economy 1998, member of advisory committee of national planning of the national development and reform committee of the prc 2004, member of advisory committee of foreign policy of the ministry of foreign affairs of the prc 2010, and he was, inter. Chinas policy responses to the global financial crisis. He weiwen, try to calm nerves by analyzing why chinas economy will not crash, and noting that the rmbs rise and fall serves global interests well. Jan 08, 2018 civil society and global financesuggests how this development can move forward in positive directions. Wang shaoguang translated by chan yang chinese socialism 3. Gallagher, jose antonio ocampo, ming zhang, yu yongding in many ways, china can be seen as the great globalizer.
Yu yongding member of the mpc of the peoples bank of china 0406 moderator. New york university 2001 nobel prize in economics joseph e. Liu shouying 5 a trade war that is unwarranted yu yongding 6 sino. Professor yu yongding on gold koos jansen bullionstar. The world in 2020 according to china chinese foreign policy. Yu yongding is an academician and senior fellow at the institute of world economics and politics, chinese academy of social sciences. Oliver paddison chief, countries with special needs section, mpfd dr. He graduated from the beijing school of science and technology of the chinese academy of sciences in 1969. Chinas policy responses to the global financial crisis yu yongding since reforming and opening up its economy, china has created an economic miracle. On tuesday, yu yongding, a former adviser to the peoples bank of china, wrote in official media that the central bank should stop intervening to support the yuan and allow it to depreciate more. Its average annual rate of gdp growth over the past three decades was 9. Yu yongding is a senior fellow with cigis global economy program.
Hamza malik director, macroeconomic policy and financing for development division mpfd managing editors dr. Other professional experience april 2019 april 2023, member advisory scientific committee of the european. Yu writer pro efficient crossplatform markdown text editor. Martti ahtisaari, fernando andresen guimaraes, emma bonino, robert cooper, tibor dessewffy, andrew duff, teresa gouveia, heather grabbe, lionel jospin. Shuvojit banerjee officerincharge, development policy section, mpfd. All opinion pieces are published on the project syndicate website, but are also distributed to a wide network of partner publications for print. Three clues to reading the chinese economys fortune in. Yu yongding is an academician of chinese academy of social sciences cass, president of china society of world economy 2003, editorinchief, china. China, the yuan and the imf european council on foreign relations. Chinas daring depreciation by yu yongding project syndicate.
Aug 18, 2015 chinas daring depreciation aug 18, 2015 yu yongding while chinas central bank devalued the renminbi earlier this month, many foreign commentators, viewing the move as a blatant attempt to boost chinese exports, warned that a new round of currency wars was coming. Professor yu yongding chinese academy of social sciences, china editors chief editor dr. Yu worked at the beijing heavy machinery factory for a decade, before resuming his education in england, where he studied macroeconomics and international finance. Jan aart scholte is professor in the department of politics and international studies and associate of the centre for the study of globalisation and regionalisation at the university ofwarwick. Yu yongding, restarting the marketisation of exchange. Building mutual trust between china and the us qian yingyi, jia qingguo, bai chongen and wang jisi 14. The impact of the global financial crisis on the chinese economy. The 2009 richard snape lecture was presented by professor yu yongding at the. The impact of the global financial crisis on the chinese economy and chinas policy responses. The impact of trumps america first agenda on asia economics, politics and public policy in east asia and the pacific vol.
He is writing a chapter for a forthcoming cigi publication on china in the global economy. Rather than abruptly opening to global trade under the washington consensus, beginning in the early 1980s china followed the pragmatic expression. Jerome doyon is the chief editor of china analysis, and. Hamza malik officerincharge, macroeconomic policy and financing for development division mpfd editors dr. Yu yu yongding agenda contributor world economic forum. Yu yongding global development policy center boston university. Macroeconomic theory course under professors gary smith and james. We are fortunate to have professor yu yongding as this years lecturer. The commissions 2009 richard snape lecture was delivered on wednesday 25 november by professor yu yongding. Macroeconomic policy interdependence and the g20 ii european union concrete steps toward realistic reforms of the international monetary system. The impact of the global financial crisis on the chinese.
Yu yongding centre for international governance innovation. Chinas policy responses to the global financial crisis lectures. Yu full text database, fully browsable and searchable online. The possibility of a uschina trade war is slim, said yu yongding, an economist of the chinese academy of social sciences and a former member of the central banks monetary policy committee. Yu also warned that china should be well prepared for the worst scenario if chinaus trade tensions continue to worsen. This unprecedented growth vastly improved the living standards of the chinese people. Yu yongding, zha daojiong, zhang zhijun, zhou hong, marianne ziss. The fundamental dynamic effect on reform and opening in china.
Project syndicate is an international media organization that publishes and syndicates commentary and analysis on a variety of important global topics. Nov 27, 2016 on tuesday, yu yongding, a former adviser to the peoples bank of china, wrote in official media that the central bank should stop intervening to support the yuan and allow it to depreciate more. Chinas policy responses to the global financial crisis professor. Program centre for international governance innovation. Pardee center, boston university, 2014 america latina.
Sun liping the wukan model and chinas democratic potential 9. Peter drysdale, editor, east asia forum there are many views about which model provides the best understanding of chinese economic growth and, more immediately, what the prospects are for maintaining a high growth rate in the face of the palpable structural, environmental and social challenges that china confronts today. Close links mean little chance of major trade war, says. He is editorinchief of two chinese economic journals world economy. The american subprime crisis and the consequent dramatic global slowdown after lehman bothers fiasco, the chinese economy was hit very badly. The country then reduced its investments in infrastructure. Yu yongding is an academician of chinese academy of social. Yu yongding has recently and famously described the chinese. We are most grateful to members of the ecfrs council for their consistent support, advice and comments on the report, including. Revisiting the internationalization of the yuan yu yongding 12. He was born in 1948, and attended beijing scientific technology college and oxford university in england. Challenges facing the global governance mechanism and chinas countermeasures he fan, feng weijiang, and xu jin part four.
Tientip subhanij chief, financing for development section, mpfd. The views expressed in this paper are the views of the author and do not necessarily. Commenting on chinas domestic economic situation, yu said china has made. Thanks also to wang yizhou and yu yongding for providing access to the institute of world economics and politics and to sarah, patrick and hannah for putting up with my frequent absences from home over the years. Yu yongding, a former president of the china society of world economics and director of the institute of world economics and politics at the chinese academy. Understanding the way chinas economy works east asia forum. This publication is available in hard copy or pdf format from the. Yongding yu is an academician of the chinese academy of social sciences cass. Kevin gallagher, yongding yu, bilge erten, jose antonio ocampo, jan allen kregel, ming zhang, sunanda sen, kenji aramaki, gabor daniela, robert mccauley overview paper 3. Point ju jiandong and yu xinding 9 the great opening. According to geoffrey crowther, a former chief editor of the economist, a countrys balance of payments structure normally.