Category: Uncategorized

Inverted balance sheets and doubling the financial bet

On Tuesday the National Bureau of Statistics released China’s 2014 GDP growth numbers and reported growth consistent with what the government has been widely promoting as the “new normal”. According to the preliminary estimation, the gross domestic product (GDP) of China was 63,646.3 billion yuan in 2014, an increase of 7.4 percent at comparable prices. […]

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Zounds! Hacked again!

I apologize to those who have submitted comments but for the past nearly four weeks I have been unable to enter into my blog as editor, which means that I have been able neither to post new entries nor to approve comments. I finally regained control last night and tried to approve all the legitimate […]

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The impact of reform on growth

I got a lot of feedback from my January 5 blog entry because of my argument that the implementation of the reforms proposed in the Third Plenum all but guarantees that growth rates in China will slow down. For that reason I thought it might make sense for me to explain a little more carefully […]

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Monetary policy under financial repression

Following Paul Krugman’s lead I guess I can refer to this post as being “wonkish”. Much of it is based on my recent book Avoiding the Fall (Carnegie Endowment, September 2013). In order to understand much of what is happening in China I believe it is crucially important to understand how financial systems operate under conditions […]

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Rebuilding the blog….

I apologize for being offline for so long but the Viagra salesmen were able to hack my site once again and make it impossible for me to approve comments, add new posts, or otherwise manage the site. Because my colleague working with me believes that there is malicious code imbedded in my blog that allows […]

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