Significant differences exist between official Chinese and U.S. trade statistics on the magnitudes of the China-U.S. trade balance in goods as well as in goods and services. These differences arise from a number of factors. First, the convention that exports of goods are measured on an FOB (free...

The “New Era,” a term introduced by President Xi Jinping, may also be identified as the Xi Era, during which China will be transformed from a moderately well-off to a strong and wealthy nation. In the new era, the Chinese Government will undertake to deepen economic reform, widen economic...

What are the implications of the Thirteenth Five-Year (2016-2020) Plan for Economic and Social Development of China for Hong Kong? While the Plan is mostly indicative even for the Mainland, and certainly not mandatory for Hong Kong, it does express support for Hong Kong to continue to develop as...

The Renminbi surprised the World markets by its unexpected devaluations first in August 2015 and then in January 2016. Will the Renminbi devalue again? In this paper, the questions of whether the Renminbi is over-valued, whether the level of Chinese official foreign exchange reserves is...

Chinese Abstract:...

Chinese Abstract:...

The Chinese economy is in the midst of a process of transition to a “New Normal”, with slower growth of real GDP, international trade and investment. China has a very high domestic saving rate and hence significant excess savings. Its outbound direct investment has surpassed its inbound...

Chinese Abstract: 避免系統性的金融風險，跟一個金融機構怎麼避免它所面對的風險，是兩個不同的概念，最重要的考慮是系統性金融風險裡包含著的“溢出效應”（spillover...

This paper examines the evolution of income inequality over the past half a century and considers whether economic globalisation has been responsible for the rising degree of income inequality. It is argued that the minimisation of the degree of income inequality cannot and should not be the...

In this paper, various new ideas for the enhancement of the world trade and investment systems are proposed. The first idea is a proposal for feasible transitional compensatory taxes which can enable the compensation of losers by the winners caused by the expansion of trade in a given country in...