6 January 2020

Andrew Sheng and Xiao Geng

Andrew Sheng is a distinguished fellow at the Asia Global Institute at the University of Hong Kong; Xiao Geng is president of the Hong Kong Institution for International Finance
  • The unfolding Sino-American cool war is far less cut and dried than the Cold War was, the authors observe. Photo: Bloomberg

    Why a ‘cool war’ may be worse than a cold one

    - Jan 3, 2020 9:51am
    In recent years, fears of a new cold war between the United States and China have been proliferating. But the tensions between the two powers would be better described as a “cool war,” characterized not by...
  • Pro-democracy supporters celebrate outside a polling station in Tuen Mun on Monday. The election result is an opportunity for all to reflect on the need to end violent protests and address genuine grievances, say the authors. Photo: AFP

    Can Hong Kong avoid tragedy?

    - Nov 27, 2019 9:43am
    Nearly six months after they began, the protests in our city have reached fever pitch. On one particularly devastating day earlier this month, police fired more than 1,500 rounds of tear gas, a police officer shot...
  • China will continue placing the highest priority on maintaining social and political stability – a prerequisite for long-term economic development. Photo: Bloomberg

    China adjusts to the New World Order

    - Oct 29, 2019 10:23am
    On October 1, the People’s Republic of China celebrated the 70th anniversary of its founding with impressive military and civilian parades meant to showcase the extraordinary progress the country has made under the leadership of the...
  • People wave Chinese flags as doves are released at the end of a parade marking the 70th founding anniversary of People's Republic of China, in Beijing on Tuesday. Photo: Reuters

    The next phase of China’s reform and opening up

    - Oct 2, 2019 11:32am
    Over the last four decades, China has integrated into global networks in trade, finance, data, and culture (encompassing social values, religion, and political beliefs). But, as the United States embraces protectionism, continued progress on global integration...
  • Hong Kong’s leaders have been so thoroughly out of touch with ordinary people that the protest movement took them by surprise. Photo: Reuters

    Hong Kong’s real problem is inequality

    - Aug 28, 2019 10:19am
    Since China regained sovereignty over Hong Kong on July 1, 1997, the city has prospered economically, but festered politically. Now, one of the world’s richest cities is engulfed by protests, which have blocked roads, paralyzed the...
  • If the US-China trade war escalates, American multinational firms will be the biggest losers, warn Andrew Sheng and Xiao Geng. Photo: Bloomberg

    Corporate America in the crossfire

    - Jun 25, 2019 11:02am
    American multinationals may like the idea of forcing China to alter the policies and practices – from subsidies for state-owned enterprises to the requirement that foreign firms share proprietary technology in exchange for access to the...
  • The Trump administration insists that the only deficit to worry about is the bilateral trade deficit with China. Photo: Reuters

    How will the US-China trade war end?

    - May 28, 2019 9:53am
    Dashing hopes of a quick agreement on trade relations with China, US President Donald Trump’s administration has imposed punitive tariffs on another US$200 billion of Chinese goods. Now that the Chinese government has responded with new...
  • Chinese President Xi Jinping, Chinese Premier Li Keqiang and other top officials clap their hands during the closing session of the National People's Congress (NPC) at the Great Hall of the People in Beijing

    China and its Western critics

    - Mar 27, 2019 10:01am
    In Washington, DC, a bipartisan consensus about China has emerged: the United States is facing a trade-manipulating, authoritarian intellectual-property thief that represents a strategic threat to the US and its allies and deserves to be punished....
  • Top US and Chinese officials sit across each other ahead of the start of trade talks in Washington on Feb. 21. Photo: Reuters

    Can Trump make a deal with China?

    - Feb 25, 2019 10:25am
    ? Trade negotiations between the United States and China are closing in on the March 1 deadline, after which the bilateral tariff war will resume – beginning with an increase from 10 percent to 25 percent...
  • China has not quite reached the goal that the market should become the decisive force in resource allocation. Photo: Reuters

    When will China achieve quality growth?

    - Jan 30, 2019 10:11am
    ? Even before the 2008 global financial crisis laid bare the limits of China’s export-oriented growth model, the country’s leaders were stressing the need for quality growth. In 2007, then-Premier Wen Jiabao argued that Chinese economic...
  • China’s leaders must navigate complex and conflicting pressures, as they seek to address domestic economic inequalities, manage relations with the United States, cooperate with the rest of the world, and pursue effective climate action. Photo: Bloomberg

    China’s four traps

    - Nov 27, 2018 10:37am
    On the 40th anniversary of the launch of China’s “reform and opening up”, the country is well on its way to recapturing its former status as the world’s largest economy, having made substantial progress toward modernizing...
  • After decades of increasing openness and globalization, the world is retreating into fragmentation, thanks to the policies of US President Donald Trump. Photo: AFP

    America’s self-defeating China policy

    - Oct 31, 2018 9:44am
    Trade tariffs may be getting the most attention, but the conflict between the United States and China is actually being fought on multiple fronts, including exchange rates, technology, cyberspace, and even arms. This does not bode...
  • China can utilize dynamic urban clusters to not only to generate growth, but also to address structural challenges like inequality and excess capacity, economists say. Photo: Reuters

    How cities are saving China

    - Aug 29, 2018 10:42am
    The world has a demand problem, and it is dealing with it all wrong. Rather than allowing itself to be harmed by other countries’ problematic policies, China must work to create its own demand by making...
  • China may need to accelerate its reforms to reduce internal imbalances, increase consumption, and contribute to global demand and stability. Photo: CNSA

    Stress testing China’s system reform

    - Jul 26, 2018 10:07am
    The historian Wang Gungwu recently observed that, whereas the West thinks in terms of ideologies, China has long thought in terms of systems. In today’s age of rapid and profound change – characterized, in particular, by...
  • US President Donald Trump has exploited popular anger to advance his own interests. But he did not create that anger; America’s elites have spent decades doing that. Photo: Reuters

    Anger in America

    - Jun 26, 2018 1:07pm
    Many blame today’s populist rebellion in the West on the far right, which has won votes by claiming to be responding to working-class grievances, while stoking fear and promoting polarization. But, in blaming leaders who have...
  • If China wants a truly balanced, resilient and anti-fragile real economy and financial system, it will need to develop a comprehensive set of risk-sharing mechanisms. Photo: Bloomberg

    Managing China’s global risks

    - May 30, 2018 9:53am
    The world economy and international system are now characterized not only by deep interconnectedness, but also by intensifying geopolitical rivalries. For China, the situation is complicated further by US President Donald Trump’s evident view of the...
  • When China’s leaders formulate and execute policies, they tend to think in terms of decades. Photo: Reuters

    The right way to judge Chinese governance

    - Mar 27, 2018 9:45am
    Following China’s “two sessions” – the annual meetings of the national legislature and the top political advisory body – all Western observers, it seems, are discussing the removal of the two-term limit for the president. Xi...
  • China under President Xi Jinping is “adopting a new vision for development”, which “ensures and improves living standards”. Photo: Bloomberg

    China’s search for quality growth

    - Jan 31, 2018 9:40am
    As Chinese President Xi Jinping begins his second five-year term, shifting toward “quality growth” is at the top of the country’s policy agenda. Across China’s government, a quiet but resolute commitment to fostering a new growth...
  • McKinsey estimates that AI technology in China could add 0.8 to 1.4 percentage points to China’s annual GDP growth, depending on the speed of adoption. Photo: Xinhua

    The challenges confronting China’s digital economy

    - Dec 27, 2017 3:06pm
    China’s digital economy is a force to be reckoned with. The country now accounts for 42 percent of global e-commerce, boasts one-third of the world’s most successful tech startups, and conducts 11 times more mobile payments...
  • Michelangelo's Creation of Adam (detail). "We have not discovered any natural laws or equations that explain how life evolved into its current state, much less indicate how it will evolve in the future." Photo: Wikimedia Commons

    The global age of complexity

    - Jun 13, 2017 4:00pm
    Every century, it seems, has its “age”. The Renaissance, from a philosophical perspective, has been called the Age of Adventure. The seventeenth-century Age of Reason was followed by the Age of Enlightenment.?The nineteenth and twentieth centuries...