Books

09.27.17

Cracking the China Conundrum

Yukon Huang
China’s rise is altering global power relations, reshaping economic debates, and commanding tremendous public attention. Despite extensive media and academic scrutiny, the conventional wisdom about China’s economy is often wrong. Cracking the China Conundrum provides a holistic and contrarian view of China’s major economic, political, and foreign policy issues.Yukon Huang trenchantly addresses widely accepted yet misguided views in the analysis of China’s economy. He examines arguments about the causes and effects of China’s possible debt and property market bubbles, trade and investment relations with the West, the links between corruption and political liberalization in a growing economy, and Beijing’s more assertive foreign policies. Huang explains that such misconceptions arise in part because China’s economic system is unprecedented in many ways—namely because it’s driven by both the market and state—which complicates the task of designing accurate and adaptable analysis and research. Further, China’s size, regional diversity, and uniquely decentralized administrative system pose difficulties for making generalizations and comparisons from micro to macro levels when trying to interpret China’s economic state accurately.This book not only interprets the ideologies that experts continue building misguided theories upon, but also examines the contributing factors to this puzzle. Cracking the China Conundrum provides an enlightening and corrective viewpoint on several major economic and political foreign policy concerns currently shaping China’s economic environment. —Oxford University Press{chop}Related Reading:“What the West Gets Wrong About China’s Economy,” Yukon Huang, Foreign Affairs, September 14, 2017“Challenging Conventional Wisdom,” Chen Weihua, China Daily, April 28, 2017“Cracking China’s Debt Conundrum,” Yukon Huang, Financial Times, December 6, 2016“Despite Slower Growth, China’s Economy Is Undergoing Major Changes,” NPR Interview with Yukon Huang, January 19, 2016

China’s Undeserved Reputation for Building Bad Infrastructure in Africa

Eric Olander, Cobus van Staden & more
The Chinese build more infrastructure than any other country (foreign or African) in Africa. Chinese banks are financing billions of dollars in new loans, aid packages, and other deals to build badly-needed infrastructure across the continent, and...

China Parliament Ratifies BRICS Bank Agreement

Ben Blanchard
Reuters
China ratifies an agreement with the world's largest emerging nations to create a new development bank, alternative to western institutions such as the World Bank...

New Asian Development Bank Seen As Sign Of China’s Growing Influence

Jim Zaroli
NPR
Obama worries the new bank will compete with the Western-led World Bank and the International Monetary Fund.

How China Plans to Shape New Asian Order

Charles Hutzler
Wall Street Journal
At the center of these efforts is the new Asian Infrastructure Investment Bank and plans for pan-Asian infrastructure .

U.S. About-Face on AIIB Would be Welcomed

China Daily
US leaders have for years said Asia-Pacific nations do not have to choose between China and the US.

South Korea Says It Will Join China-Led Asia Infrastructure Investment Bank

Wall Street Journal
Seoul makes assurances about AIIB’s governance, which U.S. has been wary about.

US Risks Epic Blunder by Treating China as an Economic Enemy

Ambrose Evans-Pritchard
Telegraph
The United States has handled its economic diplomacy with shocking myopia.

Conversation

03.24.15

What Went Wrong With U.S. Strategy on China’s New Bank and What Should Washington Do Now?

Patrick Chovanec, Zha Daojiong & more
Now that much of Europe has announced its intentions to join the China-led Asian Infrastructure Investment Bank (AIIB), was Washington’s initial opposition a mistake? Assuming the AIIB does get off the ground, what might it mean for future...

China on the World Stage: A Bridge Not Far Enough

Economist
China plans a new bank to help match Asia’s vast savings with its even vaster need for infrastructure.

China Gloats as Europeans Rush to Join Asian Bank

Simon Denyer
Washington Post
Xinhua described the U.S. as “petulant and cynical” for declining to join the Asian Infrastructure Investment Bank.

U.S. Urges Allies to Think Twice Before Joining China-led Bank

Matthias Sobolewski and Jason Lange
Reuters
The move by U.S. allies to participate in Beijing's flagship economic outreach a diplomatic blow to Washington. ...

US Anger at Britain Joining Chinese-led Investment Bank AIIB

Nicholas Watt, Paul Lewis and Tania...
Guardian
U.S. statement says of U.K. membership that it is ‘worried about a trend of constant accommodation’ of China. 

China and the World: Yuan for All

Economist
The yuan is not yet fully convertible and will not be for several years, which limits China's influence...

The BRICS Bank: China’s Drive to Shake Up Development Finance

Eric Olander, Cobus van Staden & more
Brazil, Russia, India, China and South Africa (aka the ‘BRICS’) are moving forward with an ambitious plan to shake up the clubby world of development finance. The new BRICS bank announced over the summer 2014 is expected to have a profound impact on...

Caixin Media

11.04.14

Cai Jinyong: A Chinese Voice at the Top of the IFC

Three top executives serving in recent years at the World Bank and its emerging markets financing arm International Finance Corp. (IFC) have called China home.Economist Cai Jinyong became the fourth in October 2012, when he was named IFC's...