ABOUT THE AUTHOR
Henry Hing Lee Chan:
By Henry Hing Lee Chan - 25 Jun 2016
The June 23 Brexit referendum saw the UK vote to leave the European Union. The exit decision shocked the world with implications not only in the political and economic arenas of the UK and EU, but which also has far reaching repercussions beyond Europe.
Greenpeace recently released its China air quality survey for the first quarter of 2016 and the results indicate improvements in most parts of the country. PM 2.5 levels across 355 Chinese cities surveyed fell 9 percent as compared to the same period in 2015.
China’s three financial sector regulators are launching major reviews of new innovations implemented in the past few years that have been blamed for the chaos in the financial sector in the second half of last year and early this year.
The Beijing Consensus is simply three theorems about how to organize the place of a developing country in the world. Just like the Washington Consensus, it contains many ideas that are not all about economics, but also about politics and the global balance of power.
The present market structure of China might give Tobin tax a good chance to succeed if its objective is to stabilize short term capital flow and exchange rate volatility.
The importance of innovation which the Chinese government puts on economic growth merits a review of the issue and the lesson of productivity paradox in which the US experienced will hopefully shed some light.
There are valuable lessons that policy makers can draw from the successful defense of the Singapore dollar against depreciation pressure in 1985 and interestingly, the case bear many resemblances to the RMB situation today.