https://www.scmp.com/rss/515565/feed Anthony William Donald Anastasi, PhD, is an assistant professor of economics at the Sino-British College, University of Shanghai for Science and Technology. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Anthony W.D. Anastasi Anthony W.D. Anastasi If you were asked which middle-income country has one of the lowest levels of educational attainment, very few would say China. We continually hear stories about mass university expansion, record numbers of annual graduates and elite institutions that rank among the world’s best. Despite these impressive strides, gaps in education remain a large roadblock for China’s further economic development. The country remains largely undereducated for its level of economic development: only about 31 per... https://www.scmp.com/opinion/china-opinion/article/3339187/why-chinas-next-development-priority-must-be-secondary-education?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3339187/why-chinas-next-development-priority-must-be-secondary-education?utm_source=rss_feed Thu, 15 Jan 2026 21:30:09 +0000 Anthony W.D. Anastasi Anthony W.D. Anastasi Earlier this month, the US Democrats, whom many had written off, swept the local and state elections. From Zohran Mandani becoming New York mayor and Abigail Spanberger becoming Virginia governor to two statewide wins in Georgia’s public service commissioner races, the Democrats had a good run. The winning message was, ironically, what lost them the last presidential election: affordability. President Donald Trump has since sounded the alarm that Republicans must reclaim the issue of... https://www.scmp.com/opinion/world-opinion/article/3333302/trump-cant-have-it-all-low-prices-booming-stocks-balanced-trade?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3333302/trump-cant-have-it-all-low-prices-booming-stocks-balanced-trade?utm_source=rss_feed Mon, 24 Nov 2025 21:30:10 +0000 Anthony W.D. Anastasi Anthony W.D. Anastasi As I discovered recently, a person’s first trip to Tokyo can be an interesting experience. Its high standard of living, clean streets, orderly public life and inexpensive, dependable infrastructure are likely to impress a first-time visitor. However, puzzling as it might be, Japan’s GDP has not grown much since the 1990s despite clear evidence of a thriving economy. In US dollar terms, Japan’s GDP was higher in 1993 than it was in 2024. There are a few reasons for this disconnect. Some of it has... https://www.scmp.com/opinion/china-opinion/article/3329873/why-china-should-stop-worrying-and-embrace-japanification?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3329873/why-china-should-stop-worrying-and-embrace-japanification?utm_source=rss_feed Wed, 22 Oct 2025 08:30:08 +0000 Anthony W.D. Anastasi Anthony W.D. Anastasi There seems to be a never-ending amount of scholarship and commentary on how China can escape the middle-income trap. It moved from low-income to lower-middle-income status in 2001, then to upper-middle-income status in 2010. However, China’s next transition, to high-income status and joining the ranks of the club of developed countries, is much more difficult. While the jury is still out on exactly when it might happen, it is possible that 2025 is the year China becomes a high-income country.... https://www.scmp.com/opinion/china-opinion/article/3319278/china-could-become-high-income-country-year-can-it-stay-one?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3319278/china-could-become-high-income-country-year-can-it-stay-one?utm_source=rss_feed Sun, 27 Jul 2025 12:30:08 +0000 Anthony W.D. Anastasi Anthony W.D. Anastasi China’s electric vehicle (EV) industry has achieved resounding success, marking a triumph for Chinese industrial policy and entrepreneurship. However, the sector now stands at a critical turning point. Fierce price wars and destructive competition, or neijuan, epitomised by BYD’s recent dramatic price cuts, have prompted warnings from Chinese state regulators. For the health of the industry, China’s macroeconomic stability and the global economy, the solution should be clear: consolidation. In... https://www.scmp.com/opinion/china-opinion/article/3313848/how-chinas-ev-titans-can-end-industrys-forever-price-war?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3313848/how-chinas-ev-titans-can-end-industrys-forever-price-war?utm_source=rss_feed Wed, 11 Jun 2025 08:30:07 +0000 Anthony W.D. Anastasi Anthony W.D. Anastasi As an American economics professor in China, I often tell my students that the problems facing the US and Chinese economies are like puzzle pieces, but opposite in shape. The United States has suffered a hollowing out of manufacturing and persistent trade deficits and it is too reliant on consumer spending and imported goods. China, in contrast, has an overbuilt industrial base and excess savings and is driven by exports and investment rather than household consumption. One country consumes too... https://www.scmp.com/opinion/world-opinion/article/3309467/us-and-china-hold-key-each-others-economic-puzzle?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3309467/us-and-china-hold-key-each-others-economic-puzzle?utm_source=rss_feed Sun, 11 May 2025 12:30:08 +0000 I do not like the current US president. I voted against Donald Trump for the third time last November. His disregard for the rule of law, democracy, pluralism, America’s alliances, and everything else that has made my country strong, special and great makes him a bitter pill to swallow. I view him as a danger to not only the United States but the world. But broken clocks are correct twice a day. I share his disenchantment with the international trade system; it is irreparable and needs to be... https://www.scmp.com/opinion/world-opinion/article/3305893/critics-case-trumps-tariffs?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3305893/critics-case-trumps-tariffs?utm_source=rss_feed Sun, 13 Apr 2025 12:30:07 +0000 Incredibly, the world witnessed a striking split-screen last week: US President Donald Trump addressed a joint session of Congress while Chinese Premier Li Qiang delivered his annual work report at the “two sessions” parliamentary meetings. One speech was met with heckling from the opposition and support from the speaker’s own party members, while the other received only the latter. Despite the stark contrast between the speeches from the two countries’ leadership, there seems to be a degree of... https://www.scmp.com/opinion/world-opinion/article/3302135/yuan-internationalisation-us-re-industrialisation-fairy-tale?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3302135/yuan-internationalisation-us-re-industrialisation-fairy-tale?utm_source=rss_feed Sun, 16 Mar 2025 08:30:15 +0000 The long-awaited stimulus for the world’s second-largest economy has seemingly begun. Last week, the People’s Bank of China governor announced new measures to boost the Chinese economy, including cuts to mortgage rates for existing housing and a reduction in the reserve requirement ratio by half a percentage point. The PBOC also plans to support the acquisition of real estate companies’ lands by allowing policy and commercial banks to grant loans to eligible companies. These initiatives aim to... https://www.scmp.com/opinion/china-opinion/article/3280523/chinas-latest-stimulus-measures-still-dont-go-far-enough?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3280523/chinas-latest-stimulus-measures-still-dont-go-far-enough?utm_source=rss_feed Tue, 01 Oct 2024 08:30:09 +0000 Since China started tightening lending restrictions for property developers, to rein in debt, there have been headlines about impending doom for the real estate sector. We have since seen major Chinese developer Evergrande file for bankruptcy protection in the US while Country Garden, the country’s largest developer until last year, flirts with a default. Despite property prices across China struggling to recover, the day of reckoning has yet to come for the sector. However, participants and... https://www.scmp.com/comment/opinion/article/3237109/why-property-crash-could-be-good-china?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3237109/why-property-crash-could-be-good-china?utm_source=rss_feed Wed, 11 Oct 2023 07:30:18 +0000 After spending an uninterrupted three-and-a-half years in China, this summer was my first opportunity to return home and visit family and friends in sunny south Florida. I sold my car before moving to China, so this was my first experience of being back home in the United States without my own automobile. The absurdly priced Uber trips, poorly covered bus routes and the nuisance I caused my friends and family asking for rides made me wonder how anyone in the US can live without a car. During my... https://www.scmp.com/comment/opinion/article/3228234/why-us-needs-go-down-chinas-public-transport-route?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3228234/why-us-needs-go-down-chinas-public-transport-route?utm_source=rss_feed Fri, 21 Jul 2023 19:30:10 +0000 China’s rise as a producer and net exporter of cars has been as impressive as it has been rapid. Despite making traditional fossil-fuel-powered vehicles, China’s success can be found in its electric vehicle (EV) producers. This is important for China at this moment. Of course, there are environmental reasons, yet there are important economic development reasons as well. The automotive industry is considered a late industry, meaning the technological and industrial requirements for building the... https://www.scmp.com/comment/opinion/article/3219001/can-chinas-booming-ev-industry-help-it-avoid-middle-income-trap?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3219001/can-chinas-booming-ev-industry-help-it-avoid-middle-income-trap?utm_source=rss_feed Tue, 02 May 2023 07:45:10 +0000