https://www.scmp.com/rss/525527/feed Qiyuan Xu is a senior economist at the Chinese Academy of Social Sciences. He is a member of the ADBI advisory committee, and has also served as a member of the academic advisory committee for the World Bank’s flagship World Development Report 2024, as well as co-convenor of the Expert Panel on Strategic Directions of ASEAN+3 Finance Process. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Qiyuan Xu,Panpan Yang Qiyuan Xu,Panpan Yang Global imbalances are once again taking shape, albeit differently than how they manifested before the financial crisis of the late 2000s. Back then, the story was simple: some countries, led by China and Germany, saved too much, while the United States consumed too much. The answer, at least in theory, was also simple: surplus countries should rely more on domestic demand while deficit countries should save more; exchange rates should adjust. While that framework still matters, it no longer... https://www.scmp.com/opinion/world-opinion/article/3349158/how-ai-and-geopolitical-rivalry-are-breaking-economic-orthodoxy?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3349158/how-ai-and-geopolitical-rivalry-are-breaking-economic-orthodoxy?utm_source=rss_feed Wed, 08 Apr 2026 08:30:07 +0000