Much more than a cyclical adjustment, Beijing’s latest policy shift marks a milestone in the history of its economic management. Beijing’s larger-than-expected market rescue plan announced last week is extraordinary in every way. The policies, from interest rate cuts to special funding schemes for the stock market, are significant. But investors are particularly excited about Continue reading »
China
Ren Zeping’s almost frantic call one week ahead of Beijing’s dramatic loosening of monetary policy. Before the People’s Bank of China’s unusually bold, if not unprecedented, big bang last week to boost investor sentiments, the frustration with Beijing’s apparent lack of urgency in aiding the world’s second-largest economy grew increasingly apparent. One of the signs Continue reading »
China is in the middle of its third major deflationary episode in the past three decades. The country’s global footprint is now so large that uncertainty over the timing of its exit from the current episode is one of the most important questions in the global economy today. Prior episodes offer some useful guidance on Continue reading »
As the war in Ukraine heads into its third winter Western leaders appear to be sinking further every day into a delusional belief in the success of their hydra-headed attempts to first de-fenestrate Russia before moving on to do the same to China Continue reading »
Naval and air standoffs, sabre-rattling and accusations of underhand dealings are heightening tensions in the Asia-Pacific region and causing a security dilemma. It does not have to be like this. Diplomacy and referral to international dispute resolution mechanisms can make a difference. Unless information exchange is improved and serious attempts are made to understand all Continue reading »
The global wheat trade is undergoing a transformation, shaped by geopolitical shifts, strategic investments, and historical legacies. Central to this evolution is China’s Belt and Road Initiative and its expected impact on traditional trade relationships, including those with Australia. The Australia-China wheat trade has deep roots, tracing back to the 1960s when Australia supplied grain Continue reading »
The most senior US officials, including President Joe Biden himself, refer to US alliances with individual or groups of countries in the Indo-Pacific as benign and defensive in nature. These references contrast with warnings about the possible “knock-on” effect of a Russian victory in Ukraine which, it is said, could encourage China to seek to Continue reading »
The world doesn’t see an “indispensable nation” in America, only one that is ‘dysfunctional at home and pursuing naked self-interest abroad’ Nicholas Burns, the US ambassador to China, and his State Department colleague Jose Fernandez think the United States has created a successful playbook to help other countries resist China’s economic coercion. So say two representatives Continue reading »