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Posts Tagged ‘Wei’

Why the US and China See Negotiations Differently

Posted by hkarner - 14. Mai 2019

Shang-Jin Wei, former Chief Economist of the Asian Development Bank, is Professor of Finance and Economics at Columbia University and a visiting professor at the Australian National University.

The recent breakdown in trade talks between the United States and China may in part reflect the two countries’ different approaches to negotiation. Hopefully, this contrast in styles will not cause the talks to fail unnecessarily, given the importance to the global economy of a US-China agreement.

CANBERRA – Trade negotiations between the United States and China have broken down because the US government says the Chinese were walking back their agreement on matters that had previously been addressed. US negotiators and President Donald Trump were furious, and on May 10, Trump more than doubled US tariffs on $200 billion worth of imports from China. The lead Chinese negotiator, Liu He, told reporters that, because a final agreement was not reached, revisions were not “walked back,” a line that the US side does not seem to buy. The Chinese government has now retaliated, announcing that it will raise tariffs on $60 billion worth of US goods.

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China and the Future of Commodity Prices

Posted by hkarner - 19. März 2016

Photo of Abdul Abiad

Abdul Abiad

Abdul Abiad is Economic Adviser at the Asian Development Bank.

 

Photo of Shang-Jin Wei

Shang-Jin Wei

Shang-Jin Wei is Chief Economist at the Asian Development Bank and the head of its Economic Research and Regional Cooperation Department.

MAR 18, 2016, Project Syndicate

MANILA – There is no doubt that China’s ongoing growth slowdown has had far-reaching effects on the global economy. But its role in the sharp fall in commodity prices that has occurred since 2014 – an outcome that has been devastating for commodity-exporting countries, including once-dynamic emerging economies – is more limited than the conventional wisdom suggests. In fact, China’s slowdown is only a part of the commodity-price story.

To be sure, there is a clear correlation between Chinese GDP growth and commodity prices. In the early 2000s, when Chinese growth accelerated, commodity prices rose sharply; since China’s slowdown began in 2011, energy prices have fallen by 70%, metals prices by 50%, and agricultural commodity prices by 35%. Den Rest des Beitrags lesen »

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China’s Slowdown and Asia’s Economy

Posted by hkarner - 20. Januar 2016

Photo of Shang-Jin Wei

Shang-Jin Wei

Shang-Jin Wei is Chief Economist at the Asian Development Bank and the head of its Economic Research and Regional Cooperation Department.

JAN 20, 2016, Project Syndicate

MANILA – China’s economic slowdown in 2015 will have important consequences for countries in the region and beyond. For most countries, the sub-7% GDP growth expected this year – and in the coming years – would be a cause for celebration. After three decades of double-digit growth, however, the weakening performance of what is now the world’s second-largest economy is a significant source of concern – and not just for the Chinese.

But, while China’s slowdown will have negative consequences for some countries, it is also creating opportunities for others. The fate of countries in the region depends on the structure of their economies – and, crucially, how they can adapt to their giant neighbor’s ongoing economic transformation. Den Rest des Beitrags lesen »

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