There is some debate going on over whether Chinese
growth is living up to the eduction level of its workforce. Here is the
New York Times on the subject:
In 1998, when Jiang Zemin, then the president,
announced plans to bolster higher education, Chinese universities and colleges
produced 830,000 graduates a year. Last May, that number was more than six
million and rising.
It is [...]
We’ve commented before on the near-impossibilty of teasing decent
inflation estimates out of China.
Malaysia’s
policy makers have been forced to confront the factors blocking the country’s
rise to high-income status. Facing higher labor costs, the economy has been
unable to maintain a growth model based on low-value-added manufacturing that
was largely successful for the 30 years prior to the 1997 Asian financial
crisis. One of the most noticeable manifestations of this so-called
middle-income trap [...]
This year to everyone’s surprise the
PBoC failed to announce 2011’s lending quota. Instead it announced a
series of new polices aimed at monitoring the banks. According to an article in Thursday’s People’s Daily:
The
People’s Bank of China (PBOC), the country’s central bank, will check
credit and capital levels of commercial banks each month to determine
the reserve [...]
From Newsweek:
The traditional Chinese model of economic growth
required the U.S. and a few other countries to be consumers of first and
last resort, spending more than their income and running ever-larger
trade deficits—so that China could be the producer of first and last
resort, spending less than its income and building ever-larger trade
surpluses. That model is now [...]
Before every get-together with China, the US goes through some
ritualized complaining (the value of its currency has been the recent
big talking point), the Chinese do some sabre rattling of their own, and
perilous little of substance happens, except that the Chinese continue
to have an economy with a substantial current account surplus, which not
only works [...]
You see Asia’s growth in the statistics. While it will take another
year or two for most advanced economies, including Britain’s, to get
back to pre-recession levels of gross domestic product, Asian economic
activity and Asian trade are comfortably above pre-crisis levels and
rising fast.
…through the Lens of Multiple Regression
I hesitate to add to the welter of commentary on President Hu Jintao’s state visit (e.g., [0]), but Professor Mark Wu’s recent NYT Op-Ed China’s Currency Is Not Our Problem inspired me to think again about how econometrics can inform policy.
Bivariate vs. Multivariate
[...]
Welcome to our post-Christmas review of the news you may have missed – with a selection of tweets from our ChinaBlogTweets http://twitter.com/chinablogtweets twitter stream.
Striking deals RT @fonstuinstra: Auto Worker Strikes in China: What Did They Win? | Labor Notes http://ht.ly/3tYFo
Economic Op-ed 2 RT @GE_Anderson: Surprising op-ed in China Daily China’s model is unsustainable [...]
One of these days we may have time to expand on this, but time is short (and clients are demanding), so please feel free to browse these links (which we have been collecting from Twitter) at your leisure…
Looking back at 2010 (again – see “10 for 10: Our Christmas List of China Lists” & “Christmas [...]