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Yu Yongding
By Yu Yongding - Jan 02,2023
BEIJING — The renminbi’s value used to feature heavily in debates about global imbalances. While outsiders considered it to be undervalued and urged appreciation, the People’s Bank of China (PBOC) insisted on maintaining the currency’s de facto peg to the US dollar.
By Yu Yongding - Sep 15,2022
BEIJING — On July 2, 1997, the Thai baht collapsed. After waves of speculative attacks, the government had run out of foreign currency and become unable to support its exchange-rate peg to the US dollar. So, it floated the baht, which went into freefall.
By Yu Yongding - Jul 27,2022
BEIJING  —  In 2004, everyone started talking about global imbalances.
By Yu Yongding - Apr 28,2022
BEIJING — In The Economic Weapon: The Rise of Sanctions as a Tool of Modern War, historian Nicholas Mulder reminds us that even when Britain and Russia were savagely battling each other during the 1853-56 Crimean War, they continued to service their debts to each other.
By Yu Yongding - Feb 22,2022
BEIJING  —  Despite strong global economic headwinds, not least from the COVID-19 pandemic, China managed to achieve 8.1 per cent GDP growth last year, its highest rate in a decade.
By Yu Yongding - Jan 17,2022
BEIJING  —  In 2018, Steve Bannon, then-US president Donald Trump’s chief strategist, argued that the United States needed to “decouple” from China.
By Yu Yongding - Oct 24,2021
BEIJING — China is having an eventful month, marked by proliferating power-supply disruptions and the debt crisis of the country’s second-largest property developer, Evergrande.
By Yu Yongding - Aug 31,2021
BEIJING — In the second quarter of 2021, China’s GDP grew by 7.9 per cent year on year. That was a relatively strong performance, especially given the enduring effects of the COVID-19 pandemic on the global economy.
By Yu Yongding - Mar 09,2021
BEIJING  —  On September 25, 2015, the world’s heads of state and government unanimously adopted the 2030 Agenda for Sustainable Development, a sweeping global blueprint for building a more equitable and sustainable world.
By Yu Yongding - Dec 13,2020
BEIJING — China’s economy seems largely to have bounced back from the COVID-19 shock. It registered 4.9 per cent annual growth in the third quarter of 2020, and the rate may well exceed 5 per cent growth in the fourth quarter.

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