https://www.scmp.com/rss/519466/feed Huang Yiping, dean of the National School of Development and a professor at Peking University, is a member of the Monetary Policy Committee of the People’s Bank of China. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com US President Donald Trump’s “Liberation Day” announcement of sweeping new tariffs on imports from more than 180 countries will be remembered as a man-made economic tsunami. Many are already comparing it to president Herbert Hoover’s 1930 Smoot-Hawley Tariff Act, which slashed global trade by 66 per cent in five years and deepened the Great Depression. Trump’s tariffs – most of which have been abruptly paused for 90 days – have rattled financial markets, prompting analysts to warn that the United... https://www.scmp.com/opinion/china-opinion/article/3306325/3-steps-china-should-take-response-trumps-latest-trade-war?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3306325/3-steps-china-should-take-response-trumps-latest-trade-war?utm_source=rss_feed Sun, 13 Apr 2025 08:30:07 +0000 China’s GDP growth slowed during the first three quarters of 2024, from 5.3 per cent to 4.7 per cent, and to 4.6 per cent, raising fears that the country would not achieve its annual target of around 5 per cent. But the latest data suggests the economy is finally turning the corner. Economic activity in China has been relatively weak since the Covid-19 crisis. This was not unexpected, at least not at first: three years of pandemic lockdowns strained household, corporate and local government... https://www.scmp.com/opinion/china-opinion/article/3290440/3-challenges-chinas-economic-growth-2025?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3290440/3-challenges-chinas-economic-growth-2025?utm_source=rss_feed Thu, 12 Dec 2024 06:30:13 +0000 At an international symposium on “80 Years after Bretton Woods” in Hangzhou in May, I proposed a “Global South Green Development Plan”, which was later dubbed the Chinese Marshall Plan. The proposal includes three goals: assisting developing countries’ green development, expanding China’s aggregate demand and enhancing China’s global leadership. Like the original Marshall Plan, the plan would provide large volumes of commercial credit and investment, policy loans and government aid. I was... https://www.scmp.com/opinion/china-opinion/article/3282540/chinas-overcapacity-could-enable-green-marshall-plan?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3282540/chinas-overcapacity-could-enable-green-marshall-plan?utm_source=rss_feed Wed, 16 Oct 2024 10:00:42 +0000 Decentralisation of decision-making from the central government to local authorities is widely regarded as one of China’s most effective policy reforms of the past four decades. As the Communist Party’s priorities shifted from class struggle to economic development, decentralisation turned out to be a tremendous catalyst for growth. Compared to the centrally planned system, local governments were better positioned to tailor economic decisions to local conditions. Local governments were also... https://www.scmp.com/opinion/china-opinion/article/3273016/era-entrepreneurial-chinese-local-government-over?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3273016/era-entrepreneurial-chinese-local-government-over?utm_source=rss_feed Sat, 03 Aug 2024 07:15:09 +0000