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Posts Tagged ‘global recession’

Opinion:Making Sense of the Dollar and Yuan

November 26th, 2009 70 comments

Officials from both China and the U.S. have lauded Obama’s recent trip to China as a great success.  While some have criticized the trip for producing little in terms of specifics, one should not casually dismiss the achievements actually made (see U.S.-China Joint Statement). In so many ways, the relationship between U.S. and China has never been closer.

Yet despite the goodwill generated by the trip, there is one sharp difference that festers between the two – and that is the value of the Yuan.  Many in America feel that the Yuan is not only undervalued, but has created a huge trade deficit, setting in motion the current global financial crisis and threatening to prolong the current U.S. recession. Read more…

Is China recession proof?

May 28th, 2009 10 comments

In this McKinsey report, a panel of leading Chinese economists explains how the world’s fastest-growing economy has kept expanding despite the global downturn.

China’s economy has demonstrated remarkable resilience in the midst of a worldwide slump. How has the country coped with the financial crisis? Is China finally emerging as an engine of global demand? Can its economy generate enough new jobs to maintain social stability? What will drive future growth? How should foreign firms in China adapt? In this interview, conducted by McKinsey’s Janamitra Devan in March 2009 in Beijing, four distinguished members of the McKinsey Council on China Business Economists explore these questions. Watch the video, or read the transcript below.
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On the State of China's Economy and the Global Economy

March 5th, 2009 18 comments

As the current world economy crisis drags on, there are still lingering hopes that China just might remain a bright spot in the world economy and help lead the world back to recovery. Read more…