Podcasts about renmin university

Steve H. Hanke is a Senior Fellow, Contributing Editor of The Independent Review, and a Member of the Board of Advisors at the Independent Institute. Hanke is professor of applied economics and founder and co-director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at the Johns Hopkins University in Baltimore, senior adviser at the Renmin University of China's International Monetary Research Institute in Beijing, and a special counselor to the Center for Financial Stability in New York. Hanke is also a contributing editor at Central Banking in London and a contributor at National Review. In addition, Hanke is a member of the Charter Council of the Society for Economic Measurement.In the past, Hanke taught economics at the Colorado School of Mines and at the University of California, Berkeley. He served as a member of the Governor's Council of Economic Advisers in Maryland in 1976–77, as a senior economist on President Reagan's Council of Economic Advisers in 1981–82, and as a senior adviser to the Joint Economic Committee of the U.S. Congress in 1984–88. Hanke served as a state counselor to both the Republic of Lithuania in 1994–96 and the Republic of Montenegro in 1999–2003. He was also an adviser to the presidents of Bulgaria in 1997–2002, Venezuela in 1995–96, and Indonesia in 1998. He played an important role in establishing new currency regimes in Argentina, Estonia, Bulgaria, Bosnia‐Herzegovina, Ecuador, Lithuania, and Montenegro. Hanke has also held senior appointments in the governments of many other countries, including Albania, Kazakhstan, the United Arab Emirates, and Yugoslavia.

China has reaffirmed its commitment to resolving mutual concerns through equal dialogue and consultation with the United States, emphasizing that Washington's unilateral tariff hikes are disrupting normal economic and trade cooperation between the two countries, according to China's top commerce official.中国商务部高级官员表示，中方已重申希望与美国通过平等对话磋商解决各自关切，并强调美方单边加征关税的做法正对中美正常经贸合作造成破坏。In a letter sent on Wednesday to Howard Lutnick, the newly appointed US secretary of commerce, Chinese Commerce Minister Wang Wentao expressed China's concerns over US tariffs on Chinese exports, the Ministry of Commerce said in an online statement.据商务部的一份在线声明显示，2月19日，商务部部长王文涛向美国新任商务部长霍华德·卢特尼克致信，就美对中国输美产品加征关税表达中方关切。Wang said that economic and trade relations form a critical pillar of China-US ties. Both sides should strive to foster a fair and predictable business environment to support sustainable economic engagement, he added.王文涛表示，经贸关系是中美关系的重要组成部分。双方应努力营造公平、可预期的商业环境，以支持可持续的经济合作。The US government's aggressive tariff policy is bound to fail, as history has proved that wielding the tariff stick only leads to price hikes, exacerbates inflation and disrupts global trade, economists said.经济学家指出，美国政府激进的关税政策注定失败，因为历史证明，挥舞关税大棒只会导致价格上涨、加剧通胀并扰乱全球贸易。Highlighting that tariffs are duties ultimately imposed on US businesses and consumers, they said that rather than bring manufacturing back to the US, protectionism would isolate Washington in the world economy and politics.他们强调，关税最终是由美国企业和消费者承担的，保护主义不仅不会让制造业回流美国，反而会使美国在世界经济和政治中陷入孤立。Their comments came after US President Donald Trump said on Tuesday that he intends to impose auto tariffs "in the neighborhood of 25 percent" and similar duties on semiconductors and pharmaceutical imports. This is the latest of a series of US measures threatening to upend international trade.2月18日，美国总统唐纳德·特朗普表示打算对汽车征收“约25%”的关税，并对半导体和药品进口征收类似关税，随后相关人士发表了上述评论。这是美国一系列威胁颠覆国际贸易的最新举措。Sebnem Kalemli-Ozcan, a professor of economics at Brown University in the US state of Rhode Island, said, "Economists don't typically agree on all things, but if you ask me what is one thing they do agree on, it's that tariffs are costly to the American consumer in the end."美国罗得岛州布朗大学经济学教授塞布内姆·卡莱姆利-奥兹坎表示：“经济学家通常不会在所有事情上达成一致，但如果你问我他们会在哪件事上达成共识，那就是关税最终会让美国消费者付出代价。”Trump imposed a 50 percent tariff on imports of washing machines in 2018. As a direct result, the value of washing machines jumped by around 12 percent, and US consumers paid around $1.5 billion extra a year in total for these products, researchers from the University of Chicago estimated in a paper published in 2019.2018年，特朗普对进口洗衣机征收了50%的关税。芝加哥大学的研究人员在2019年发表的一篇论文中估计，这一举措直接导致洗衣机价格上涨约12%，美国消费者每年为此类产品总共额外支付约15亿美元。Kalemli-Ozcan also expressed concern about the inflationary impact of the extra tariffs.卡莱姆利-奥兹坎还对额外关税的通胀影响表示担忧。The US consumer price index jumped 0.5 percent month-on-month in January, the biggest gain since August 2023. This was higher than expected, as Americans face higher costs for a range of goods and services, Reuters reported.据路透社报道，美国1月消费者价格指数环比增长0.5%，这是自2023年8月以来的最大涨幅。这一涨幅高于预期，因为美国人面临一系列商品和服务成本的上涨。Computer manufacturer Acer said that the price of its laptops would increase by 10 percent next month due to US tariffs.计算机制造商宏碁表示，由于美国关税，其笔记本电脑的价格下个月将上涨10%。"Tariffs (could) also lead to appreciation of the dollar, meaning it will be hard for US exporters to sell their goods to other countries, even in the absence of any retaliation from any country that it imposes tariffs on," Kalemli-Ozcan added.卡莱姆利-奥兹坎补充说：“关税还可能导致美元升值，这意味着即使受加征关税影响的国家不实施反击，美国出口商也很难将商品销售到其他国家。”Jeffrey Sachs, director of the Center for Sustainable Development at Columbia University, said a multifaceted rationale exists behind the aggressive US trade policy, citing reasons such as attempting to weaken China, pushing for compliance with US foreign policy demands and boosting US exports.哥伦比亚大学可持续发展中心主任杰弗里·萨克斯表示，美国激进贸易政策背后的动机是多方面的，包括试图削弱中国、迫使他国屈服于美国外交政策要求、增加美国出口等。"But Trump's strategy is bound to fail," Sachs said. "China will diversify its trade to the rest of the world, while the US will increasingly lose competitiveness of its own exports in third markets."萨克斯说：“但特朗普的战略注定失败。中国将在全球实行贸易多元化，而美国将在第三市场逐渐失去其出口竞争力。”Li Zhi, assistant dean of the China Institute for Development Planning at Tsinghua University, said, "Eight years ago, the US government tried to use the tariff weapon to make the US great again, but the result was soaring prices domestically, blocked manufacturing investment and disrupted global supply chains."清华大学中国发展规划研究院院长助理李治表示：“八年前，美国政府试图利用关税武器让美国再次伟大，但结果是国内价格飙升，制造业投资受阻，全球供应链中断。”"The trade war launched by Washington has proved to be of little use to help it reduce the deficit," Li said. "We need to learn how to compete and cooperate more gracefully."李治说：“美国发起的贸易战已被证明对其减少赤字几乎没有帮助。我们需要学会如何更优雅地进行竞争与合作。”Wang Changlin, vice-president of the Chinese Academy of Social Sciences, said Trump is triggering widespread trade frictions with his tariff plans. "Such an approach will drive up inflation in the US, disrupt global supply chains, and accelerate the restructuring of global industrial, technological and energy resource landscapes. As a result, global economic growth is expected to slow further," Wang said.中国社会科学院副院长王昌林表示，特朗普的关税计划正在引发广泛的贸易摩擦。“这种做法将推高美国通胀，扰乱全球供应链，并加速全球工业、技术和能源资源格局的重组。因此，全球经济增长预计将进一步放缓，”王昌林说。Shi Hongxiu, a professor of economics at the National Academy of Governance, said: "The tariff policy reflects a decline in US influence in global trade, as it increasingly resorts to protectionism to shore up domestic industry. Such moves will trigger countermeasures from its trading partners and deal a blow to global supply chains."国家行政学院经济学教授时红秀表示：“关税政策反映出美国在全球贸易中的影响力下降，因为它越来越诉诸保护主义来支撑国内产业。此类举措将引发其贸易伙伴的反制措施，并对全球供应链造成打击。”Cheng Dawei, a professor at the School of Economics at Renmin University of China, said Trump called for "reciprocal tariffs".中国人民大学经济学院教授程大为表示，特朗普呼吁“互惠关税”。"But such remarks are unfair and contradict the laws of the World Trade Organizations," Cheng said. "Under WTO rules, special and differential treatment should be applied to developing countries. Trump's planned 25 percent tariff on all imported automobiles violates such rules."程大为说：“但这种言论是不公平的，并且与世贸组织的规则相矛盾。根据世贸组织规则，发展中国家应享有特殊和差别待遇。特朗普计划对所有进口汽车征收25%的关税违反了这些规则。”wieldv.挥舞，握，抓着（武器或工具）appreciationn.（价格，价值等的）上涨，增值retaliationn.报复；反击

What comes after the blockbuster success of a Chinese animation? Toys and other collectible products, of course.一部中国动画电影大获成功后，随之而来的是什么？当然是相关玩具和其他收藏品。Sales of character-themed products related to the movie Ne Zha 2, the first film to gross more than $1 billion in a single market globally, have been red hot. From toys and apparel to collectible cards, demand for Ne Zha-themed promotional products is soaring, as cities across the country compete for recognition as the mythical hero's birthplace.《哪吒2》成为全球首部单一市场票房突破10亿美元的电影，与之相关的角色主题产品销量火爆。从玩具、服饰到收藏卡片，哪吒主题促销产品的需求激增，而神话英雄哪吒“故里”争夺战也在全国多地拉开帷幕。In Xiangtan, Hunan province, Hunan Sunny and Sandy Toy Manufacturing Co—the exclusive authorized manufacturer of 3D plastic food-related toys based on the film—is operating at full capacity to meet a tidal wave of demand.湖南省湘潭市的湖南桑尼森迪玩具制造有限公司作为该影片周边3D塑胶类食品玩具的独家授权生产制造商，正全力以赴投入生产以满足如潮水般涌来的需求。Yang Zhenlin, assistant to the company's chairman, said the first batch of Ne Zha-themed "blind box" toys supplied to a chain of snack stores sold out before Spring Festival, which fell on Jan 29. With a blind box, you can't see which toy figure is inside until you open it, so it's a fun surprise.公司董事长助理杨振麟表示，首批供应给某零食连锁店的哪吒主题“盲盒”玩具在1月29日春节前就已售罄。盲盒玩具在打开前无法知道里面装的是哪个角色，因此充满惊喜感。The company has produced toys, based on six main characters in the film, that sell for 11.5 yuan ($1.57) each, Yang said. More than 450,000 sets of Ne Zha-themed toys had been sold as of Monday through livestreams on Douyin, with revenue reaching 30 million yuan. That ranks first on the platform's board game and collectibles category, he said.杨振麟说，该公司生产了以影片6个主要角色为原型的玩具，每个售价11.5元人民币（1.57美元）。截至2月10日，通过抖音直播已售出45万余套哪吒主题玩具，收入达3000万元人民币，位居抖音桌游周边类产品第一。The company is also negotiating to get the intellectual property rights for two morecharacters from the film and intends to start producing those toys as well, he said.他表示，公司还在洽谈获取影片中另外两个角色的知识产权，并打算生产这些玩具。"We expected that the toys would be popular based on the success of the first movie of the franchise, but the popularity of Ne Zha 2 has far exceeded our expectations," Yang said. "We think it will be even more popular in the coming months, with sales revenue of related products reaching 200 million yuan for the year."杨振麟说：“基于第一部作品的成功，我们预料到这些玩具会受欢迎，但《哪吒2》的热度远超我们的预期。我们认为未来几个月它会更受欢迎，相关产品年销售收入将达到2亿元人民币。”The movie is expected to be a large-scale hit in overseas markets as well, so the company is preparing to sell the toys abroad, including in Southeast Asia, Japan, North America and Europe.该公司预计这部电影在海外市场也会大受欢迎，因此正准备将相关玩具销往国外，包括东南亚、日本、北美、欧洲。Sales of other products, such as limited-edition cards and badges, have also skyrocketed since the movie's release.自电影上映以来，限量版卡片和徽章等其他产品的销量也飙升。Chen Qi, general manager of Guangdong Henglitai Crafts Co in Dongguan, Guangdong province, which produces Ne Zha-themed cards, refrigerator magnets and badges, said the company made over 300,000 sets of such products in early January, and all have sold out. Workers are racing to produce more merchandise for the movie to meet public demand, he said.广东省东莞市广东衡立泰工艺品有限公司总经理陈祺介绍，该公司负责生产哪吒主题的卡片、冰箱贴、徽章，1月初生产的30万余套此类产品已全部售罄。他表示，工人们正加紧生产更多电影周边以满足公众需求。"The success of Ne Zha 2 shows that Chinese animation can compete with that of the Japanese and American giants," Chen said.“《哪吒2》的成功证明，中国动画完全能媲美日美巨头，”陈祺说。Li Baochuan, an expert in cartoon history at Hangzhou Normal University, said that derivative products are more than just merchandise. For the younger generation of consumers, they represent identity and a form of social currency.杭州师范大学动漫史料研究专家李保传表示，相关周边不仅仅是商品。对于年轻消费者来说，它们代表着身份，是一种社交货币。The remarkable sales success of the Ne Zha 2 products has also sent a positive signal to the industry, Li said.李保传说，《哪吒2》周边销量的火爆也给行业传递了积极信号。Meanwhile, several cities across China are now vying for the title of Ne Zha's birthplace, capitalizing on the film's success to boost tourism. The playful controversy has become a spectacle in itself, with some cities claiming to have "proof" of the character's origins.同时，中国多个城市正在争夺“哪吒故里”之名，想利用电影的成功来推动当地旅游业的发展。这场有趣的争议本身已成为一大看点，一些城市声称拥有哪吒起源的“证据”。On Feb 5, the first working day after the Spring Festival holiday, tourism and culture authorities in Tianjin municipality released a video claiming that Ne Zha was born in the city and went to primary school there.2月5日，即春节假期后第一个工作日，天津市文化和旅游局发布了一段视频，声称哪吒出生在天津，并在当地上过小学。The next day, Anhui authorities said that images of Ne Zha could be found all over the province's Guzhen county, with many sculptures and wall paintings of him. Shortly thereafter, authorities in Yibin, Sichuan province, announced that Ne Zha was born in its Nanguang township, and it released a list of cultural sites and landmarks inspired by the character.次日，安徽省有关部门表示，该省固镇县随处可见哪吒的形象，有很多哪吒的雕像和墙画。不久后，四川省宜宾市有关部门宣称，哪吒在该市南广镇出生，并公布了一系列受该角色启发的文化遗址和地标清单。Song Yangyang, deputy dean of the Institute for Creative Industries Technology at Renmin University of China, said the logic behind local governments competing for cultural ownership of Ne Zha is easy to understand: It generates a buzz, enhances the city's reputation and ultimately attracts tourists.中国人民大学创意产业技术研究院副院长宋洋洋表示，地方政府争抢哪吒文化归属的逻辑很好理解：它能形成热度和关注度，提升城市知名度，并最终吸引游客。But he also said he is not optimistic about the competition for so-called hometowns or birthplaces. Instead of vying for the title of hometown, he suggested focusing on adding genuine value through such things as tourism services, cuisine or other tangible products beyond toys.但他也表示，并不看好所谓家乡、出生地之争。他建议不要争夺“故里”之名，而应专注于通过旅游服务、美食或玩具之外的其他有形产品等增加真正的价值。appareln.衣服，服装derivativen.衍生物，派生物

The Chinese Orchestra of Renmin University of China brings together students from diverse majors like finance, mathematics, information management and more. Bound by a shared love for music, they cherish and create music with passion, drawing solace and strength from every note they play.

Interview recorded - 10th of January, 2024On this episode of the WTFinance podcast I had the pleasure of welcoming back Steve Hanke. Steve is the Professor of Applied Economics and Founder and Co-Director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at The Johns Hopkins University.  He is also the author of the recently released book “Capital, Interest and Waiting: Controversies, Puzzles and New Additions to Capital Theory”.During our conversation we spoke about what happened in 2024, quantitative tightening, the treasury, drivers of money supply, trump inflation, the dollar wrecking ball, recession risk and more. I hope you enjoy!0:00 - Introduction2:20 - Review of 2024?8:18 - Quantitative tightening10:47 - Treasury bond issuance 13:37 - Issue with FED & Wall Street17:52 - Drivers of money supply21:32 - Bond market issue28:18 - Trump inflationary?31:27 - Dollar wrecking ball36:32 - Grow money supply with high debt?42:12 - One message to takeaway?Steve H. Hanke is a Senior Fellow, Contributing Editor of The Independent Review, and a Member of the Board of Advisors at the Independent Institute. He is a Professor of Applied Economics and Founder and Co-Director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at The Johns Hopkins University in Baltimore. He is also a Senior Adviser at the Renmin University of China's International Monetary Research Institute in Beijing, and a Special Counselor to the Center for Financial Stability in New York. Hanke is also a Contributing Editor at Central Banking in London and a Contributor at National Review. In addition, Hanke is a member of the Charter Council of the Society for Economic Measurement and a Distinguished Associate of the International Atlantic Economic Society. He is ranked as the world's third-most influential economics influencer by FocusEconomics in Barcelona, Spain.Steve Hanke: Book - https://link.springer.com/book/10.1007/978-3-031-63398-0X -  https://x.com/steve_hankeBio - https://www.independent.org/aboutus/person_detail.asp?id=516WTFinance -Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4Twitter - https://twitter.com/AnthonyFatseas

The vision of building a community with a shared future for mankind, proposed by President Xi Jinping in 2013, has evolved from an initiative into a world consensus and practice that has been increasingly recognized as the most important global public good with profound international significance, officials and experts said.The vision highlights the original mission of the Communist Party of China, namely striving for the happiness of the Chinese people and for the progress of mankind, and points the way for major-country diplomacy with Chinese characteristics on the new journey, Foreign Minister Wang Yi said.By integrating the fundamental interests of the Chinese people with those of people worldwide, and linking China's future with the common interests of the whole world, it transcends differences in social systems and ideologies, and bridges disparities in history, culture and development stages, Wang said.It is China's solution to the question of what kind of world to build and how to build it, Wang said in Beijing on Thursday at the unveiling ceremony of a research center on building a community with a shared future for mankind.Over the past decade or so, President Xi has, on many occasions, given high priority to the vision, saying that the international community is increasingly becoming an interconnected community with a shared future and no country can remain unaffected in the changing and turbulent world.To date, dozens of countries and regions have joined China in building various forms of shared communities. Multilateral cooperation such as building a global community of health for all, building a community with a shared future in cyberspace, and building a community of life for mankind and nature, is advancing steadily. The vision has also been included in the resolutions of the First Committee of the United Nations General Assembly for eight consecutive years. Zhang Jun, China's former permanent representative to the UN, said that the vision, advocating unity and cooperation, helps to bridge divisions, rebuild trust and establish a common foundation to jointly address global challenges. "It stands in stark contrast to the unilateralism, decoupling and exclusive practices promoted by certain countries and individuals, which positions China's diplomacy on the moral high ground," he said.Noting that the vision draws wisdom from the rich legacy of traditional Chinese culture, such as valuing peace and universal harmony and putting righteousness first, Xu Bu, former president of the China Institute of International Studies, said it will contribute to the progress of human civilization."China's advocacy for humanity's shared values of peace, development, fairness, justice, democracy and freedom, differing from the universal values championed by Western countries, truly represents the aspirations of the broader international community, particularly developing countries," he added.Zhang Weiwei, director of the China Institute of Fudan University, said: "More and more countries come to realize that the vision is in line with the common interests of all mankind, and represents the greatest common denominator of people from all countries to build a better world."He noted that China is one of the countries that has truly found its way to success and achieved its development through peace rather than violence and plunder, which he said was a remarkable feat.China has put forward the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative since 2021, offering its wisdom and solutions to improve world governance and respond to global challenges.He expressed the belief that more and more nations will recognize the significance of China's ideas and learn from the second-largest economy.Hu Jiping, vice-president of the China Institutes of Contemporary International Relations, said that in a world where major powers are increasingly mired in conflicts and cooperation is hindered, the vision champions a new type of international relations featuring mutual respect, fairness, justice and win-win cooperation, which is critical for global peace and development.The vision also manifests China's responsibility as a major power, he said, adding that Beijing has played a positive and constructive role in facilitating peace talks and resolving international and regional hot spot issues."China's development is a beacon of hope for humanity, and the vision is not an empty slogan but a tangible path toward development," said Yang Guangbin, dean of the School of International Studies at Renmin University of China, when talking about the Belt and Road Initiative, which serves as a platform for practicing the vision."For instance, under the BRI, Chinese companies have helped countries in South America and Africa build digital communication technologies," he said, adding that this has enabled many developing nations to leap into the information age almost overnight.So far, 155 countries and over 30 international organizations have signed Belt and Road cooperation agreements with China. Statistics showed that in the first three quarters of 2024, the total trade volume under the BRI was $1.57 trillion, an increase of 4.53 percent compared with the previous year.Chen Zhimin, a professor at Fudan University's School of International Relations and Public Affairs, said that facing a new round of scientific and technological revolution and industrial transformation, China has put forward the concept of science and technology for good and further enriched the practice of building a community with a shared future for mankind.

China is prioritizing protecting the rights of elderly workers and respecting their willingness to work as it began gradually raising the statutory retirement age on Wednesday.从2025年1月1日起，中国开始渐进式延迟法定退休年龄。在此过程中，中国优先保障老年职工的权益，并尊重他们的工作意愿。The Ministry of Human Resources and Social Security, the Organization Department of the Communist Party of China Central Committee, and the Ministry of Finance jointly issued an interim guideline outlining operational measures for workers to choose their retirement age.人力资源社会保障部、中央组织部、财政部三部门联合发布《实施弹性退休制度暂行办法》（以下简称《办法》），概述了职工选择退休年龄的操作措施。The new policy stems from a decision approved by the Standing Committee of the National People's Congress in September to raise the statutory retirement age for men to 63 and for women to either 55 or 58, depending on their occupation.该新政策源于9月《全国人民代表大会常务委员会关于实施渐进式延迟法定退休年龄的决定》（以下简称《决定》）。《决定》提出，依据职业性质，将男职工的法定退休年龄延迟到63周岁，将女职工的法定退休年龄延迟到55周岁、58周岁。According to that decision, from Wednesday, male workers age 60 and female workers age 55 can ask for their retirement age to be extended one month every four months. Female workers who are 50 years old can ask for a one-month retirement extension every two months. By doing so, the retirement ages will increase to 63 for men and 55 or 58 for women in 15 years.根据《决定》，从2025年1月1日起，60周岁男职工和55周岁女职工可每4个月申请延长退休年龄1个月。50周岁女职工可每2个月申请延长退休年龄1个月。这样一来，15年后，男职工退休年龄将延迟至63周岁，女职工将延迟至55周岁、58周岁。The guideline excludes those who reached the previous statutory retirement age before Tuesday.2024年12月31日前已经达到原法定退休年龄的人员，不适用本《办法》。Once the age increase is fully implemented, workers will be able to voluntarily retire up to three years earlier than the new statutory age, provided they have met the minimum pension contribution requirement, which is currently 15 years but will gradually rise to 20 years by 2030.一旦延迟退休政策全面实施，职工达到养老金最低缴费年限（目前为15年，从2030起将逐步提高至20年），可以自愿选择比新法定退休年龄提前3年退休。However, workers cannot retire before the previous statutory retirement age, which is 50 or 55 for women and 60 for men.但是，职工退休年龄不得低于原法定退休年龄，即女职工50周岁、55周岁，男职工60周岁。Those who choose early retirement must notify their employers in writing at least three months before their chosen retirement age.职工自愿选择提前退休的，至少在本人选择的退休时间前3个月以书面形式告知所在单位。Workers wishing to delay retirement once they reach the statutory ages must agree with their employers in writing at least one month in advance, with a limit of a three-year postponement.职工达到法定退休年龄后希望延迟退休的，至少提前1个月与所在单位达成书面协议，且延迟退休时间不得超过3年。Civil servants, senior executives in State-owned enterprises and government officials must retire once they reach the new statutory retirement age, according to the guideline.《办法》规定，公务员、国有企事业单位领导人员及其他管理人员，达到新的法定退休年龄时应当及时办理退休手续。Employers are required to maintain the same rights and benefits for workers who postpone retirement, including social insurance and labor relations. Workers can reverse their decision to postpone if they come to an agreement with their employers.用人单位需保证延迟退休的职工享有相同的权益和福利，包括社会保险和劳动关系。职工与所在单位协商一致，可以终止延迟退休。The guideline underscores the importance of respecting individuals' working preferences and ensuring that retirement decisions are voluntary. It prohibits employers from pressuring workers into retirement decisions against their wishes.《办法》强调，要充分尊重职工意愿，确保其退休决定出于自愿，并禁止用人单位强制职工做出违背自身意愿的退休决定。Experts have welcomed the guideline. Zhao Zhong, dean of the School of Labor and Human Resources at the Renmin University of China in Beijing, said the specific measures included in the guideline will help the public and employers understand and implement the nation's policy on raising the retirement age.专家对《办法》的实施表示欢迎。北京中国人民大学劳动人事学院院长赵忠表示，《办法》中的具体措施将有助于公众和用人单位理解并执行国家关于延迟退休年龄的政策。"It has very detailed rules and measures on how to retire in advance or postpone retirement, which is a positive response to people's concerns about labor relations and working rights protections related to postponing retirement, showing greater respect for people's working willingness and rights," he said.他说：“《办法》对于如何提前或延迟退休制定了非常详细的规则和措施，积极回应了人们关于保障与延迟退休相关的劳动关系和工作权益的关注，体现了对人们工作意愿和权利的更大尊重。”Li Chang'an, a professor from the Academy of China Open Economy Studies at the University of International Business and Economics in Beijing, said the guideline is an explanation of the retirement decision made by the Standing Committee of the NPC in September, which highlights the "voluntary and flexible" principles of the retirement policy.北京对外经济贸易大学国家对外开放研究院教授李长安表示，《办法》是对9月《全国人民代表大会常务委员会关于实施渐进式延迟法定退休年龄的决定》的解释，突出了退休政策的“自愿和灵活”原则。He added that postponing the retirement age progressively is a result of socioeconomic development and changes in demographic structure, which allows for better use of human resources and eases the burdens on social and pension funds.他补充道，渐进式延迟退休年龄是社会经济发展和人口结构变化的结果，能够更好地利用人力资源，并减轻社会和养老金基金的负担。Figures from the Ministry of Civil Affairs show that China's elderly population—people 60 years old and above—accounted for more than one-fifth of the nation's total population in 2023.民政部数据显示，2023年中国60周岁及以上老年人口占全国总人口比重超过五分之一。interimadj.暂时的，过渡时期的

Charting a smooth transition of China-US ties, taking stock of the policy legacy and underlining Beijing's policy consistency were highlights of the third summit between President Xi Jinping and United States President Joe Biden, observers said.Prior to their meeting on Saturday in Lima, Peru, Xi and Biden had met face-to-face in Bali, Indonesia, in 2022 and in San Francisco last year.On Saturday, Beijing and Washington agreed to "continue to stabilize China-US relations, and ensure a smooth transition of the relationship", the Foreign Ministry said.Both leaders said they believe that "their meeting has been candid, profound and constructive, and they expressed their willingness to stay in contact", the ministry added.Xi and Biden agreed to maintain the momentum of communication and strengthen macroeconomic policy coordination.They also reviewed the important progress since their San Francisco meeting in dialogue and cooperation on counternarcotics, climate change, artificial intelligence and people-to-people exchanges.Diao Daming, a professor of US studies at Renmin University of China's School of International Relations, said, "The third Xi-Biden summit further plays the role as a navigator and a stabilizer for the ties, and taking stock of the policy legacy and lessons over the past four years and beyond is part of Beijing's clear, constructive solution for driving the relations' growth in the future."Whoever takes charge of the US' China policy should respect lessons from the past, face up to the US' international duties, act on the very interests of the American people and respond to global expectations for better well-being," Diao said.Xi's underlining of Beijing's consistency in US policy will help respond to the potential uncertainties that may be brought about by Washington in the future, he added.On Saturday, Xi said that China and the US should keep exploring the right way for two major countries to get along well with each other, realize long-term, peaceful coexistence, and inject more certainty and positive energy into the world.Xi also said that neither decoupling nor supply-chain disruption is the solution, and "small yard, high fences" is not what a major country should do.Citing the lessons from the two countries' diplomatic ties over the past 45 years, Xi said that if the two sides regard each other as rivals and pursue vicious competition, they "will roil the relationship or even set it back".He identified four red lines for China that must not be challenged: the Taiwan question, democracy and human rights, China's path and system, and China's development right."Major-country competition should not be the underlying logic of the times; only solidarity and cooperation can help humanity overcome current difficulties," Xi said.Biden said the US-China relationship is the most important bilateral relationship in the world, not just for the two peoples, but also for the future of the world.He underscored that the US does not seek a new Cold War, it does not seek to change China's system, its alliances are not targeted against China, it does not support "Taiwan independence", it does not seek conflict with China, and it does not see its Taiwan policy as a way to compete with China.The US will stay committed to the one-China policy and is prepared to enhance communication and dialogue with China during the US' presidential transition period to have a better perception of each other and responsibly manage differences, he said.He added that the two sides support each other's host roles for 2026 — China will host the APEC meeting that year and the US will host the G20 meeting — demonstrating "what we can do for the two peoples when we work together".On specific policy agenda items, Xi stated China's positions on Taiwan, economic and trade ties, science and technology, cybersecurity, the South China Sea, the Ukraine crisis and the Korean Peninsula.It is crucial for the US to handle the Taiwan question with extra prudence, unequivocally oppose "Taiwan independence", and support China's peaceful reunification, Xi said.In the South China Sea region, the US should not get involved in bilateral disputes over the relevant islands and the reefs of the Nansha Islands, and neither should it aid or abet making provocations, Xi said.China does not allow conflict or turmoil on the Korean Peninsula, and it will not sit idly by when its strategic security and core interests are under threat, Xi said.In Lima, the two presidents reiterated — and stated readiness to further uphold — the seven-point common understanding on the guiding principles for China-US relations.Worked out under the two leaders' instructions, the principles are treating each other with respect, finding a way to live alongside each other peacefully, maintaining open lines of communication, preventing conflict, upholding the United Nations Charter, cooperating in areas of shared interest, and responsibly managing competitive aspects of the relationship.Anthony Moretti, department head and an associate professor of the Communication and Organizational Leadership Department at Robert Morris University in the US state of Pennsylvania, said, "The US and China remain the best partners when it comes to solving vexing challenges like climate change, food insecurity, preparing to fight the next pandemic and more."But Washington must adopt a respectful tone in its rhetoric," Moretti added. "China has made clear time and again that mutual respect, peaceful coexistence and win-win cooperation are at the heart of its global agenda. The US can — and should — endorse a similar philosophy."Analysts noted that over the past four years, the China-US relationship, which went through ups and downs, remains stable on the whole.More than 20 communication mechanisms have been restarted or established, and positive achievements have been made in areas such as diplomacy, security, economy, trade, fiscal affairs, finance, military, counternarcotics, law enforcement, agriculture, climate change and people-to-people exchanges.In Lima, Xi underscored that "it is worthwhile to review the experiences of the past four years and draw inspirations from them".He listed seven items as lessons that should be learned: to have a correct strategic perception, to match words with actions, to treat each other as equals, not to challenge red lines and paramount principles, to conduct more dialogue and cooperation, to respond to the expectations of the people, and to step forward to shoulder the responsibilities of major countries.Xiaohua Yang, a professor of international business and founding director of the University of San Francisco's Center for Business Studies and Innovation, said that Xi made it clear at the Lima summit that China continues to believe the relationship is pivotal to the peace and prosperity of the whole world."Xi set a forward-looking tone in the US-China relationship — a stable and cooperative US-China relationship benefits the whole world, not just these two countries; decoupling, building up walls and being confrontational is not the solution," she said.

How do states build vital institutions for market development? Too often, governments confront technical or political barriers to providing the rule of law, contract enforcement, and loan access. In From Click to Boom: The Political Economy of E-Commerce in China (Princeton, 2024) Lizhi Liu suggests a digital solution: governments strategically outsourcing tasks of institutional development and enforcement to digital platforms—a process she calls “institutional outsourcing.” China's e-commerce boom showcases this digital path to development. In merely two decades, China built from scratch a two-trillion-dollar e-commerce market, with 800 million users, seventy million jobs, and nearly fifty percent of global online retail sales. Contrary to conventional wisdom, Liu argues, this market boom occurred because of weak government institutions, not despite them. Gaps in government institutions compelled e-commerce platforms to build powerful private institutions for contract enforcement, fraud detection, and dispute resolution. For a surprisingly long period, the authoritarian government acquiesced, endorsed, and even partnered with this private institutional building despite its disruptive nature. Drawing on a plethora of interviews, original surveys, proprietary data, and a field experiment, Liu shows that the resulting e-commerce boom had far-reaching effects on China. Institutional outsourcing nonetheless harbors its own challenges. With inadequate regulation, platforms may abuse market power, while excessive regulation stifles institutional innovation. China's regulatory oscillations toward platforms—from laissez-faire to crackdown and back to support—underscore the struggle to strike the right balance. Lizhi Liu is assistant professor at the McDonough School of Business at Georgetown University, where she is also a faculty affiliate of the Department of Government. Her work has been published by American Economic Review: Insights, Studies in Comparative International Development, Minnesota Law Review, Oxford University Press, and Princeton University Press. She was also listed as a Poets&Quants Top 50 Undergraduate Business Professor of 2021. She holds degrees in Political Science (PhD), Statistics (MS), and International Policy Studies (MA) from Stanford University and in International Relations (LLB) from Renmin University of China. Interviewer Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco, a nonresident scholar at the UCSD 21st Century China Center, an alumnus of the Public Intellectuals Program of the National Committee on US-China Relations, and is currently a visiting scholar at the Stanford Center on China's Economy and Institutions. His research focuses on the economics of information, incentives, and institutions, primarily as applied to the development and governance of China. He created the unique Master's of Science in Applied Economics at the University of San Francisco, which teaches the conceptual frameworks and practical data analytics skills needed to succeed in the digital economy. Lorentzen's other NBN interviews relating to China's tech sector include Trafficking Data, on how Chinese and American firms exploit user data, The Tao of Alibaba, on Alibaba's business model and organizational culture, Surveillance State, on China's digital surveillance, Prototype Nation, on the culture and politics of China's innovation economy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

How do states build vital institutions for market development? Too often, governments confront technical or political barriers to providing the rule of law, contract enforcement, and loan access. In From Click to Boom: The Political Economy of E-Commerce in China (Princeton, 2024) Lizhi Liu suggests a digital solution: governments strategically outsourcing tasks of institutional development and enforcement to digital platforms—a process she calls “institutional outsourcing.” China's e-commerce boom showcases this digital path to development. In merely two decades, China built from scratch a two-trillion-dollar e-commerce market, with 800 million users, seventy million jobs, and nearly fifty percent of global online retail sales. Contrary to conventional wisdom, Liu argues, this market boom occurred because of weak government institutions, not despite them. Gaps in government institutions compelled e-commerce platforms to build powerful private institutions for contract enforcement, fraud detection, and dispute resolution. For a surprisingly long period, the authoritarian government acquiesced, endorsed, and even partnered with this private institutional building despite its disruptive nature. Drawing on a plethora of interviews, original surveys, proprietary data, and a field experiment, Liu shows that the resulting e-commerce boom had far-reaching effects on China. Institutional outsourcing nonetheless harbors its own challenges. With inadequate regulation, platforms may abuse market power, while excessive regulation stifles institutional innovation. China's regulatory oscillations toward platforms—from laissez-faire to crackdown and back to support—underscore the struggle to strike the right balance. Lizhi Liu is assistant professor at the McDonough School of Business at Georgetown University, where she is also a faculty affiliate of the Department of Government. Her work has been published by American Economic Review: Insights, Studies in Comparative International Development, Minnesota Law Review, Oxford University Press, and Princeton University Press. She was also listed as a Poets&Quants Top 50 Undergraduate Business Professor of 2021. She holds degrees in Political Science (PhD), Statistics (MS), and International Policy Studies (MA) from Stanford University and in International Relations (LLB) from Renmin University of China. Interviewer Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco, a nonresident scholar at the UCSD 21st Century China Center, an alumnus of the Public Intellectuals Program of the National Committee on US-China Relations, and is currently a visiting scholar at the Stanford Center on China's Economy and Institutions. His research focuses on the economics of information, incentives, and institutions, primarily as applied to the development and governance of China. He created the unique Master's of Science in Applied Economics at the University of San Francisco, which teaches the conceptual frameworks and practical data analytics skills needed to succeed in the digital economy. Lorentzen's other NBN interviews relating to China's tech sector include Trafficking Data, on how Chinese and American firms exploit user data, The Tao of Alibaba, on Alibaba's business model and organizational culture, Surveillance State, on China's digital surveillance, Prototype Nation, on the culture and politics of China's innovation economy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/east-asian-studies

How do states build vital institutions for market development? Too often, governments confront technical or political barriers to providing the rule of law, contract enforcement, and loan access. In From Click to Boom: The Political Economy of E-Commerce in China (Princeton, 2024) Lizhi Liu suggests a digital solution: governments strategically outsourcing tasks of institutional development and enforcement to digital platforms—a process she calls “institutional outsourcing.” China's e-commerce boom showcases this digital path to development. In merely two decades, China built from scratch a two-trillion-dollar e-commerce market, with 800 million users, seventy million jobs, and nearly fifty percent of global online retail sales. Contrary to conventional wisdom, Liu argues, this market boom occurred because of weak government institutions, not despite them. Gaps in government institutions compelled e-commerce platforms to build powerful private institutions for contract enforcement, fraud detection, and dispute resolution. For a surprisingly long period, the authoritarian government acquiesced, endorsed, and even partnered with this private institutional building despite its disruptive nature. Drawing on a plethora of interviews, original surveys, proprietary data, and a field experiment, Liu shows that the resulting e-commerce boom had far-reaching effects on China. Institutional outsourcing nonetheless harbors its own challenges. With inadequate regulation, platforms may abuse market power, while excessive regulation stifles institutional innovation. China's regulatory oscillations toward platforms—from laissez-faire to crackdown and back to support—underscore the struggle to strike the right balance. Lizhi Liu is assistant professor at the McDonough School of Business at Georgetown University, where she is also a faculty affiliate of the Department of Government. Her work has been published by American Economic Review: Insights, Studies in Comparative International Development, Minnesota Law Review, Oxford University Press, and Princeton University Press. She was also listed as a Poets&Quants Top 50 Undergraduate Business Professor of 2021. She holds degrees in Political Science (PhD), Statistics (MS), and International Policy Studies (MA) from Stanford University and in International Relations (LLB) from Renmin University of China. Interviewer Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco, a nonresident scholar at the UCSD 21st Century China Center, an alumnus of the Public Intellectuals Program of the National Committee on US-China Relations, and is currently a visiting scholar at the Stanford Center on China's Economy and Institutions. His research focuses on the economics of information, incentives, and institutions, primarily as applied to the development and governance of China. He created the unique Master's of Science in Applied Economics at the University of San Francisco, which teaches the conceptual frameworks and practical data analytics skills needed to succeed in the digital economy. Lorentzen's other NBN interviews relating to China's tech sector include Trafficking Data, on how Chinese and American firms exploit user data, The Tao of Alibaba, on Alibaba's business model and organizational culture, Surveillance State, on China's digital surveillance, Prototype Nation, on the culture and politics of China's innovation economy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

How do states build vital institutions for market development? Too often, governments confront technical or political barriers to providing the rule of law, contract enforcement, and loan access. In From Click to Boom: The Political Economy of E-Commerce in China (Princeton, 2024) Lizhi Liu suggests a digital solution: governments strategically outsourcing tasks of institutional development and enforcement to digital platforms—a process she calls “institutional outsourcing.” China's e-commerce boom showcases this digital path to development. In merely two decades, China built from scratch a two-trillion-dollar e-commerce market, with 800 million users, seventy million jobs, and nearly fifty percent of global online retail sales. Contrary to conventional wisdom, Liu argues, this market boom occurred because of weak government institutions, not despite them. Gaps in government institutions compelled e-commerce platforms to build powerful private institutions for contract enforcement, fraud detection, and dispute resolution. For a surprisingly long period, the authoritarian government acquiesced, endorsed, and even partnered with this private institutional building despite its disruptive nature. Drawing on a plethora of interviews, original surveys, proprietary data, and a field experiment, Liu shows that the resulting e-commerce boom had far-reaching effects on China. Institutional outsourcing nonetheless harbors its own challenges. With inadequate regulation, platforms may abuse market power, while excessive regulation stifles institutional innovation. China's regulatory oscillations toward platforms—from laissez-faire to crackdown and back to support—underscore the struggle to strike the right balance. Lizhi Liu is assistant professor at the McDonough School of Business at Georgetown University, where she is also a faculty affiliate of the Department of Government. Her work has been published by American Economic Review: Insights, Studies in Comparative International Development, Minnesota Law Review, Oxford University Press, and Princeton University Press. She was also listed as a Poets&Quants Top 50 Undergraduate Business Professor of 2021. She holds degrees in Political Science (PhD), Statistics (MS), and International Policy Studies (MA) from Stanford University and in International Relations (LLB) from Renmin University of China. Interviewer Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco, a nonresident scholar at the UCSD 21st Century China Center, an alumnus of the Public Intellectuals Program of the National Committee on US-China Relations, and is currently a visiting scholar at the Stanford Center on China's Economy and Institutions. His research focuses on the economics of information, incentives, and institutions, primarily as applied to the development and governance of China. He created the unique Master's of Science in Applied Economics at the University of San Francisco, which teaches the conceptual frameworks and practical data analytics skills needed to succeed in the digital economy. Lorentzen's other NBN interviews relating to China's tech sector include Trafficking Data, on how Chinese and American firms exploit user data, The Tao of Alibaba, on Alibaba's business model and organizational culture, Surveillance State, on China's digital surveillance, Prototype Nation, on the culture and politics of China's innovation economy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/chinese-studies

How do states build vital institutions for market development? Too often, governments confront technical or political barriers to providing the rule of law, contract enforcement, and loan access. In From Click to Boom: The Political Economy of E-Commerce in China (Princeton, 2024) Lizhi Liu suggests a digital solution: governments strategically outsourcing tasks of institutional development and enforcement to digital platforms—a process she calls “institutional outsourcing.” China's e-commerce boom showcases this digital path to development. In merely two decades, China built from scratch a two-trillion-dollar e-commerce market, with 800 million users, seventy million jobs, and nearly fifty percent of global online retail sales. Contrary to conventional wisdom, Liu argues, this market boom occurred because of weak government institutions, not despite them. Gaps in government institutions compelled e-commerce platforms to build powerful private institutions for contract enforcement, fraud detection, and dispute resolution. For a surprisingly long period, the authoritarian government acquiesced, endorsed, and even partnered with this private institutional building despite its disruptive nature. Drawing on a plethora of interviews, original surveys, proprietary data, and a field experiment, Liu shows that the resulting e-commerce boom had far-reaching effects on China. Institutional outsourcing nonetheless harbors its own challenges. With inadequate regulation, platforms may abuse market power, while excessive regulation stifles institutional innovation. China's regulatory oscillations toward platforms—from laissez-faire to crackdown and back to support—underscore the struggle to strike the right balance. Lizhi Liu is assistant professor at the McDonough School of Business at Georgetown University, where she is also a faculty affiliate of the Department of Government. Her work has been published by American Economic Review: Insights, Studies in Comparative International Development, Minnesota Law Review, Oxford University Press, and Princeton University Press. She was also listed as a Poets&Quants Top 50 Undergraduate Business Professor of 2021. She holds degrees in Political Science (PhD), Statistics (MS), and International Policy Studies (MA) from Stanford University and in International Relations (LLB) from Renmin University of China. Interviewer Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco, a nonresident scholar at the UCSD 21st Century China Center, an alumnus of the Public Intellectuals Program of the National Committee on US-China Relations, and is currently a visiting scholar at the Stanford Center on China's Economy and Institutions. His research focuses on the economics of information, incentives, and institutions, primarily as applied to the development and governance of China. He created the unique Master's of Science in Applied Economics at the University of San Francisco, which teaches the conceptual frameworks and practical data analytics skills needed to succeed in the digital economy. Lorentzen's other NBN interviews relating to China's tech sector include Trafficking Data, on how Chinese and American firms exploit user data, The Tao of Alibaba, on Alibaba's business model and organizational culture, Surveillance State, on China's digital surveillance, Prototype Nation, on the culture and politics of China's innovation economy.

How do states build vital institutions for market development? Too often, governments confront technical or political barriers to providing the rule of law, contract enforcement, and loan access. In From Click to Boom: The Political Economy of E-Commerce in China (Princeton, 2024) Lizhi Liu suggests a digital solution: governments strategically outsourcing tasks of institutional development and enforcement to digital platforms—a process she calls “institutional outsourcing.” China's e-commerce boom showcases this digital path to development. In merely two decades, China built from scratch a two-trillion-dollar e-commerce market, with 800 million users, seventy million jobs, and nearly fifty percent of global online retail sales. Contrary to conventional wisdom, Liu argues, this market boom occurred because of weak government institutions, not despite them. Gaps in government institutions compelled e-commerce platforms to build powerful private institutions for contract enforcement, fraud detection, and dispute resolution. For a surprisingly long period, the authoritarian government acquiesced, endorsed, and even partnered with this private institutional building despite its disruptive nature. Drawing on a plethora of interviews, original surveys, proprietary data, and a field experiment, Liu shows that the resulting e-commerce boom had far-reaching effects on China. Institutional outsourcing nonetheless harbors its own challenges. With inadequate regulation, platforms may abuse market power, while excessive regulation stifles institutional innovation. China's regulatory oscillations toward platforms—from laissez-faire to crackdown and back to support—underscore the struggle to strike the right balance. Lizhi Liu is assistant professor at the McDonough School of Business at Georgetown University, where she is also a faculty affiliate of the Department of Government. Her work has been published by American Economic Review: Insights, Studies in Comparative International Development, Minnesota Law Review, Oxford University Press, and Princeton University Press. She was also listed as a Poets&Quants Top 50 Undergraduate Business Professor of 2021. She holds degrees in Political Science (PhD), Statistics (MS), and International Policy Studies (MA) from Stanford University and in International Relations (LLB) from Renmin University of China. Interviewer Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco, a nonresident scholar at the UCSD 21st Century China Center, an alumnus of the Public Intellectuals Program of the National Committee on US-China Relations, and is currently a visiting scholar at the Stanford Center on China's Economy and Institutions. His research focuses on the economics of information, incentives, and institutions, primarily as applied to the development and governance of China. He created the unique Master's of Science in Applied Economics at the University of San Francisco, which teaches the conceptual frameworks and practical data analytics skills needed to succeed in the digital economy. Lorentzen's other NBN interviews relating to China's tech sector include Trafficking Data, on how Chinese and American firms exploit user data, The Tao of Alibaba, on Alibaba's business model and organizational culture, Surveillance State, on China's digital surveillance, Prototype Nation, on the culture and politics of China's innovation economy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

How do states build vital institutions for market development? Too often, governments confront technical or political barriers to providing the rule of law, contract enforcement, and loan access. In From Click to Boom: The Political Economy of E-Commerce in China (Princeton, 2024) Lizhi Liu suggests a digital solution: governments strategically outsourcing tasks of institutional development and enforcement to digital platforms—a process she calls “institutional outsourcing.” China's e-commerce boom showcases this digital path to development. In merely two decades, China built from scratch a two-trillion-dollar e-commerce market, with 800 million users, seventy million jobs, and nearly fifty percent of global online retail sales. Contrary to conventional wisdom, Liu argues, this market boom occurred because of weak government institutions, not despite them. Gaps in government institutions compelled e-commerce platforms to build powerful private institutions for contract enforcement, fraud detection, and dispute resolution. For a surprisingly long period, the authoritarian government acquiesced, endorsed, and even partnered with this private institutional building despite its disruptive nature. Drawing on a plethora of interviews, original surveys, proprietary data, and a field experiment, Liu shows that the resulting e-commerce boom had far-reaching effects on China. Institutional outsourcing nonetheless harbors its own challenges. With inadequate regulation, platforms may abuse market power, while excessive regulation stifles institutional innovation. China's regulatory oscillations toward platforms—from laissez-faire to crackdown and back to support—underscore the struggle to strike the right balance. Lizhi Liu is assistant professor at the McDonough School of Business at Georgetown University, where she is also a faculty affiliate of the Department of Government. Her work has been published by American Economic Review: Insights, Studies in Comparative International Development, Minnesota Law Review, Oxford University Press, and Princeton University Press. She was also listed as a Poets&Quants Top 50 Undergraduate Business Professor of 2021. She holds degrees in Political Science (PhD), Statistics (MS), and International Policy Studies (MA) from Stanford University and in International Relations (LLB) from Renmin University of China. Interviewer Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco, a nonresident scholar at the UCSD 21st Century China Center, an alumnus of the Public Intellectuals Program of the National Committee on US-China Relations, and is currently a visiting scholar at the Stanford Center on China's Economy and Institutions. His research focuses on the economics of information, incentives, and institutions, primarily as applied to the development and governance of China. He created the unique Master's of Science in Applied Economics at the University of San Francisco, which teaches the conceptual frameworks and practical data analytics skills needed to succeed in the digital economy. Lorentzen's other NBN interviews relating to China's tech sector include Trafficking Data, on how Chinese and American firms exploit user data, The Tao of Alibaba, on Alibaba's business model and organizational culture, Surveillance State, on China's digital surveillance, Prototype Nation, on the culture and politics of China's innovation economy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/science-technology-and-society

How do states build vital institutions for market development? Too often, governments confront technical or political barriers to providing the rule of law, contract enforcement, and loan access. In From Click to Boom: The Political Economy of E-Commerce in China (Princeton, 2024) Lizhi Liu suggests a digital solution: governments strategically outsourcing tasks of institutional development and enforcement to digital platforms—a process she calls “institutional outsourcing.” China's e-commerce boom showcases this digital path to development. In merely two decades, China built from scratch a two-trillion-dollar e-commerce market, with 800 million users, seventy million jobs, and nearly fifty percent of global online retail sales. Contrary to conventional wisdom, Liu argues, this market boom occurred because of weak government institutions, not despite them. Gaps in government institutions compelled e-commerce platforms to build powerful private institutions for contract enforcement, fraud detection, and dispute resolution. For a surprisingly long period, the authoritarian government acquiesced, endorsed, and even partnered with this private institutional building despite its disruptive nature. Drawing on a plethora of interviews, original surveys, proprietary data, and a field experiment, Liu shows that the resulting e-commerce boom had far-reaching effects on China. Institutional outsourcing nonetheless harbors its own challenges. With inadequate regulation, platforms may abuse market power, while excessive regulation stifles institutional innovation. China's regulatory oscillations toward platforms—from laissez-faire to crackdown and back to support—underscore the struggle to strike the right balance. Lizhi Liu is assistant professor at the McDonough School of Business at Georgetown University, where she is also a faculty affiliate of the Department of Government. Her work has been published by American Economic Review: Insights, Studies in Comparative International Development, Minnesota Law Review, Oxford University Press, and Princeton University Press. She was also listed as a Poets&Quants Top 50 Undergraduate Business Professor of 2021. She holds degrees in Political Science (PhD), Statistics (MS), and International Policy Studies (MA) from Stanford University and in International Relations (LLB) from Renmin University of China. Interviewer Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco, a nonresident scholar at the UCSD 21st Century China Center, an alumnus of the Public Intellectuals Program of the National Committee on US-China Relations, and is currently a visiting scholar at the Stanford Center on China's Economy and Institutions. His research focuses on the economics of information, incentives, and institutions, primarily as applied to the development and governance of China. He created the unique Master's of Science in Applied Economics at the University of San Francisco, which teaches the conceptual frameworks and practical data analytics skills needed to succeed in the digital economy. Lorentzen's other NBN interviews relating to China's tech sector include Trafficking Data, on how Chinese and American firms exploit user data, The Tao of Alibaba, on Alibaba's business model and organizational culture, Surveillance State, on China's digital surveillance, Prototype Nation, on the culture and politics of China's innovation economy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/law

How do states build vital institutions for market development? Too often, governments confront technical or political barriers to providing the rule of law, contract enforcement, and loan access. In From Click to Boom: The Political Economy of E-Commerce in China (Princeton, 2024) Lizhi Liu suggests a digital solution: governments strategically outsourcing tasks of institutional development and enforcement to digital platforms—a process she calls “institutional outsourcing.” China's e-commerce boom showcases this digital path to development. In merely two decades, China built from scratch a two-trillion-dollar e-commerce market, with 800 million users, seventy million jobs, and nearly fifty percent of global online retail sales. Contrary to conventional wisdom, Liu argues, this market boom occurred because of weak government institutions, not despite them. Gaps in government institutions compelled e-commerce platforms to build powerful private institutions for contract enforcement, fraud detection, and dispute resolution. For a surprisingly long period, the authoritarian government acquiesced, endorsed, and even partnered with this private institutional building despite its disruptive nature. Drawing on a plethora of interviews, original surveys, proprietary data, and a field experiment, Liu shows that the resulting e-commerce boom had far-reaching effects on China. Institutional outsourcing nonetheless harbors its own challenges. With inadequate regulation, platforms may abuse market power, while excessive regulation stifles institutional innovation. China's regulatory oscillations toward platforms—from laissez-faire to crackdown and back to support—underscore the struggle to strike the right balance. Lizhi Liu is assistant professor at the McDonough School of Business at Georgetown University, where she is also a faculty affiliate of the Department of Government. Her work has been published by American Economic Review: Insights, Studies in Comparative International Development, Minnesota Law Review, Oxford University Press, and Princeton University Press. She was also listed as a Poets&Quants Top 50 Undergraduate Business Professor of 2021. She holds degrees in Political Science (PhD), Statistics (MS), and International Policy Studies (MA) from Stanford University and in International Relations (LLB) from Renmin University of China. Interviewer Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco, a nonresident scholar at the UCSD 21st Century China Center, an alumnus of the Public Intellectuals Program of the National Committee on US-China Relations, and is currently a visiting scholar at the Stanford Center on China's Economy and Institutions. His research focuses on the economics of information, incentives, and institutions, primarily as applied to the development and governance of China. He created the unique Master's of Science in Applied Economics at the University of San Francisco, which teaches the conceptual frameworks and practical data analytics skills needed to succeed in the digital economy. Lorentzen's other NBN interviews relating to China's tech sector include Trafficking Data, on how Chinese and American firms exploit user data, The Tao of Alibaba, on Alibaba's business model and organizational culture, Surveillance State, on China's digital surveillance, Prototype Nation, on the culture and politics of China's innovation economy. Learn more about your ad choices. Visit megaphone.fm/adchoices

How do states build vital institutions for market development? Too often, governments confront technical or political barriers to providing the rule of law, contract enforcement, and loan access. In From Click to Boom: The Political Economy of E-Commerce in China (Princeton, 2024) Lizhi Liu suggests a digital solution: governments strategically outsourcing tasks of institutional development and enforcement to digital platforms—a process she calls “institutional outsourcing.” China's e-commerce boom showcases this digital path to development. In merely two decades, China built from scratch a two-trillion-dollar e-commerce market, with 800 million users, seventy million jobs, and nearly fifty percent of global online retail sales. Contrary to conventional wisdom, Liu argues, this market boom occurred because of weak government institutions, not despite them. Gaps in government institutions compelled e-commerce platforms to build powerful private institutions for contract enforcement, fraud detection, and dispute resolution. For a surprisingly long period, the authoritarian government acquiesced, endorsed, and even partnered with this private institutional building despite its disruptive nature. Drawing on a plethora of interviews, original surveys, proprietary data, and a field experiment, Liu shows that the resulting e-commerce boom had far-reaching effects on China. Institutional outsourcing nonetheless harbors its own challenges. With inadequate regulation, platforms may abuse market power, while excessive regulation stifles institutional innovation. China's regulatory oscillations toward platforms—from laissez-faire to crackdown and back to support—underscore the struggle to strike the right balance. Lizhi Liu is assistant professor at the McDonough School of Business at Georgetown University, where she is also a faculty affiliate of the Department of Government. Her work has been published by American Economic Review: Insights, Studies in Comparative International Development, Minnesota Law Review, Oxford University Press, and Princeton University Press. She was also listed as a Poets&Quants Top 50 Undergraduate Business Professor of 2021. She holds degrees in Political Science (PhD), Statistics (MS), and International Policy Studies (MA) from Stanford University and in International Relations (LLB) from Renmin University of China. Interviewer Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco, a nonresident scholar at the UCSD 21st Century China Center, an alumnus of the Public Intellectuals Program of the National Committee on US-China Relations, and is currently a visiting scholar at the Stanford Center on China's Economy and Institutions. His research focuses on the economics of information, incentives, and institutions, primarily as applied to the development and governance of China. He created the unique Master's of Science in Applied Economics at the University of San Francisco, which teaches the conceptual frameworks and practical data analytics skills needed to succeed in the digital economy. Lorentzen's other NBN interviews relating to China's tech sector include Trafficking Data, on how Chinese and American firms exploit user data, The Tao of Alibaba, on Alibaba's business model and organizational culture, Surveillance State, on China's digital surveillance, Prototype Nation, on the culture and politics of China's innovation economy. Learn more about your ad choices. Visit megaphone.fm/adchoices

How do states build vital institutions for market development? Too often, governments confront technical or political barriers to providing the rule of law, contract enforcement, and loan access. In From Click to Boom: The Political Economy of E-Commerce in China (Princeton, 2024) Lizhi Liu suggests a digital solution: governments strategically outsourcing tasks of institutional development and enforcement to digital platforms—a process she calls “institutional outsourcing.” China's e-commerce boom showcases this digital path to development. In merely two decades, China built from scratch a two-trillion-dollar e-commerce market, with 800 million users, seventy million jobs, and nearly fifty percent of global online retail sales. Contrary to conventional wisdom, Liu argues, this market boom occurred because of weak government institutions, not despite them. Gaps in government institutions compelled e-commerce platforms to build powerful private institutions for contract enforcement, fraud detection, and dispute resolution. For a surprisingly long period, the authoritarian government acquiesced, endorsed, and even partnered with this private institutional building despite its disruptive nature. Drawing on a plethora of interviews, original surveys, proprietary data, and a field experiment, Liu shows that the resulting e-commerce boom had far-reaching effects on China. Institutional outsourcing nonetheless harbors its own challenges. With inadequate regulation, platforms may abuse market power, while excessive regulation stifles institutional innovation. China's regulatory oscillations toward platforms—from laissez-faire to crackdown and back to support—underscore the struggle to strike the right balance. Lizhi Liu is assistant professor at the McDonough School of Business at Georgetown University, where she is also a faculty affiliate of the Department of Government. Her work has been published by American Economic Review: Insights, Studies in Comparative International Development, Minnesota Law Review, Oxford University Press, and Princeton University Press. She was also listed as a Poets&Quants Top 50 Undergraduate Business Professor of 2021. She holds degrees in Political Science (PhD), Statistics (MS), and International Policy Studies (MA) from Stanford University and in International Relations (LLB) from Renmin University of China. Interviewer Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco, a nonresident scholar at the UCSD 21st Century China Center, an alumnus of the Public Intellectuals Program of the National Committee on US-China Relations, and is currently a visiting scholar at the Stanford Center on China's Economy and Institutions. His research focuses on the economics of information, incentives, and institutions, primarily as applied to the development and governance of China. He created the unique Master's of Science in Applied Economics at the University of San Francisco, which teaches the conceptual frameworks and practical data analytics skills needed to succeed in the digital economy. Lorentzen's other NBN interviews relating to China's tech sector include Trafficking Data, on how Chinese and American firms exploit user data, The Tao of Alibaba, on Alibaba's business model and organizational culture, Surveillance State, on China's digital surveillance, Prototype Nation, on the culture and politics of China's innovation economy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/technology

President Xi Jinping's trip to Latin America for multilateral gatherings and bilateral talks has fueled expectations that China will continue championing inclusive growth and better global governance and further solidify ties with key partners in the vibrant region.Xi embarked on the landmark trip to Peru and Brazil on Wednesday, his sixth visit to the region since 2013, for the 31st APEC Economic Leaders' Meeting in Lima and the 19th G20 Summit in Rio de Janeiro. He will also make state visits to the two nations.Analysts said that Xi's visit will provide a key opportunity to deepen collaboration with major economies, forge consensus on shared development goals, and foster new momentum for global economic integration, while contributing to the evolving multipolar world order.Cui Shoujun, founder and director of the Center for Latin American Studies at Renmin University of China, said the presence of the Chinese president at the two key economic forums showcases Beijing's unequivocal support for multilateralism."China advocates addressing global issues through consultation and cooperation and opposing unilateralism and protectionism. This approach fosters unity between developing and developed countries, prompting them to jointly seek a win-win solution for global governance," Cui said.Analysts said that Beijing's position will resonate strongly with the theme of the APEC Economic Leaders' Week this year, which named trade and investment for inclusive growth, digital innovation and sustainable and resilient development as its priorities.In his remarks at the 30th APEC leaders' meeting in 2023, Xi emphasized the importance of innovation, openness, green development and inclusive growth as key drivers to usher in another "golden 30 years "for the region.Cui said that China "promotes economic integration within the Asia-Pacific region through APEC, providing practical solutions for issues such as connectivity, digital economy and green development among member economies".Carlos Vasquez, the 2024 chair of the APEC Senior Officials' Meeting, said in a statement that the 31st APEC Economic Leaders' Meeting aims to provide greater policy direction for APEC members to deliver an environment that facilitates trade, harnesses regional economic integration and technologically driven growth, and sparks business innovation and employment.As for the G20 Summit, expectations are running high for Beijing to continue advocating reform in global economic governance and proposing to enhance the voice and participation of developing countries within the international financial system."China's inclusive proposals have now won the backing of the developing world and further enhanced the balance and stability of the global governance system," said Cui from Renmin University of China.Brazil, the host of the G20 Summit this year, has listed the fight against hunger, poverty and inequality, as well as the sustainable development of economy, society and environment and the reform of global governance, as priorities.The opening of the summit on Monday will be marked by the launch of the Global Alliance Against Hunger and Poverty, a Brazilian initiative that will mobilize countries and international organizations to accelerate efforts to combat hunger and poverty by 2030, according to a statement released by the Brazilian government.Zhou Zhiwei, a senior research fellow at the Institute of Latin American Studies at the Chinese Academy of Social Sciences, said that China and Brazil share a wide range of consensus points on global governance, and the unified stance between the two emerging countries is essential for formulating joint proposals for the Global South."The alignment between China and Brazil on the upcoming G20 Summit's three priority issues is not only pivotal for the Global South, but also for the future of global economic governance," he said.The two nations have also jointly issued a six-point proposal on pushing for the political settlement of the Ukraine crisis and calling for the de-escalation of the situation. The proposal has received widespread support from the international community.China is the first major country to support the accession of the African Union to the G20, while Beijing has also long advocated bridging the "digital divide" between the Global North and the Global South, and advancing reforms in the international financial structure.The trip is also expected to inject fresh impetus into the building of a China-Latin America community with a shared future.China stands as the region's second-largest trading partner as well as the largest trading partner for many countries in Latin America and the Caribbean, having signed free trade agreements with five nations and now engaging in high-quality Belt and Road cooperation with 22 countries.The areas of collaboration have steadily expanded beyond traditional sectors such as trade, finance and infrastructure, to now include emerging fields such as energy, digital technology and aerospace, Lin Jian, a spokesman for the Foreign Ministry, said at a news briefing on Tuesday."China has always been a trusted true friend and good partner to Latin American and Caribbean countries and their people, and the relationships have entered a new era of equality, mutual benefit, innovation, openness and people-centered development," he said.Analysts also highlighted the win-win nature of cooperation with Peru and Brazil and the immense potential for China to scale up the cooperation.Xi will be making his second state visit to Peru, a country with robust trading ties with China. China is Peru's largest global trading partner, its largest export market, and its largest source of imports, while Peru is China's fourth-largest trading partner in Latin America."China has consistently taken a proactive approach to promoting mutually beneficial cooperation with Peru," said Cui, from the Center for Latin American Studies at Renmin University of China. "Bilateral cooperation has developed into a comprehensive, multilevel and wide-ranging framework, with the relationship serving as a model for friendly cooperation between China and Latin America."During talks with visiting Peruvian President Dina Ercilia Boluarte Zegarra in June, Xi named Chancay Port, a mega port constructed by a Chinese company, as a new maritime hub linking Latin America with Asia, aiming to make the "Chancay-to-Shanghai "route a true path to shared prosperity and development for China and Peru.Zhou, from the Chinese Academy of Social Sciences, said the port, another landmark project under the Belt and Road Initiative, will significantly cut logistics costs, elevate ties between Beijing and Lima, and make Peru a key hub for China's cooperation with Latin America.He also pointed out that cooperation on science and technology could emerge as a new growth engine for ties between China and Brazil."The frequent interactions between President Xi and the leaders of Brazil and Peru demonstrate strong political mutual trust," he said. "This latest round of high-level diplomacy is expected to further enhance China's ties and cooperation with both countries."

President Xi Jinping and Finnish President Alexander Stubb lauded the development of the China-Finland relationship over decades during their talks in Beijing on Tuesday, and agreed to deepen practical cooperation as well as expand people-to-people exchanges for greater progress in bilateral ties.Stubb, who took office in March, started his four-day state visit to China on Monday, which marked the 74th anniversary of the establishment of diplomatic relations between the two countries.Finland was one of the first Western countries to establish diplomatic ties with China and the first Western country to sign an intergovernmental trade agreement with China.Xi said that China and Finland have respected and trusted each other over the years, setting a fine example of state-to-state relations that transcend historical, cultural and institutional differences.The economic ties between China and Finland are robust, with Finland currently being China's third-largest Nordic trade partner and China being Finland's largest trade partner in Asia for several consecutive years. Last year, the two-way trade volume reached $8.2 billion.Xi told Stubb that China welcomes Finland to actively participate in China's modernization drive and to expand cooperation in emerging industries such as green transition, the digital economy and new energy.He also announced China's decision to implement a unilateral visa-free policy for Finland, saying that more Finnish friends are welcome to start businesses, travel and study in China.Noting that both China and Finland are peace-loving nations that advocate multilateralism and free trade, Xi called on the two countries to jointly address issues such as climate change and the governance of artificial intelligence, in order to promote an equal and orderly multipolar world.Recalling his meeting with Xi in 2009, Stubb said the world was a very different place back then, and China has grown in the past 15 years in a way that was unimaginable for many.The Finnish president said his country adheres to the one-China principle and values China's important influence and its stabilizing and constructive role in international affairs.Noting that China and the European Union are closely interconnected in terms of economy, Stubb said the "decoupling and disruption of industrial and supply chains" or a new Cold War would not serve the interests of any party.Finland is willing to play an active role in promoting the smooth development of EU-China relations, he added.The two leaders also exchanged in-depth views on issues including the Ukraine crisis and the Palestinian-Israeli conflict. Xi said that China is ready to make joint efforts with Finland and other relevant parties to continue working for a peaceful settlement.After their talks, Xi and Stubb witnessed the signing of multiple cooperation documents covering areas such as education, environmental protection and the circular economy, and issued a joint working plan to advance the China-Finland future-oriented new-type cooperative partnership.Wang Yiwei, a professor at Renmin University of China's School of International Studies and director of the university's Institute of International Affairs, said this is the first time that a Finnish president is visiting China since the Nordic country officially became a NATO member last year.Wang noted that Finland and some European countries are looking forward to learning from China's experience in green transition and the digital economy, given the country's remarkable achievements in recent years."The two sides enjoy great potential for cooperation in environmental protection and climate response," he said.On Tuesday, Premier Li Qiang and Zhao Leji, chairman of the Standing Committee of the National People's Congress, also met separately with Stubb in Beijing.Vice-President Han Zheng and the Finnish president attended the 5th China-Finland Committee for Innovative Business Cooperation Meeting in Beijing, along with more than 100 government and business representatives from the two countries.During his trip, Stubb will make a stop in Shanghai, where he will visit Fudan University and attend a business summit, among other things.The last time a Finnish president visited China was five years ago. In 2019, then president of Finland Sauli Niinisto led a Finnish delegation to Beijing.

Professor Fei-Ling Wang tells NucleCast about his new book, 'The China Race: Global Competition for Alternative World Orders.' He argues that the United States and China are engaged in a global competition that goes beyond relative power and influence. The Chinese Communist Party (CCP) seeks to transform the world order into a hierarchical system with China at the top, while the United States aims to preserve the existing order based on democratic values and the rule of law. Wang emphasizes that the outcome of this competition has high stakes, as losing could result in the withering away of the American way of life and the nationhood and statehood of the US. He also highlights the importance of providing Chinese students with a comprehensive education that includes social sciences, humanities, logic, and history, in order to foster critical thinking and a better understanding of the world.Fei-Ling “Phil” Wang, Ph.D. (University of Pennsylvania), Professor at Sam Nunn School of International Affairs, Georgia Institute of Technology (fw@gatech.edu). His research interests are comparative and international political economy, U.S.-East Asian relations, and East Asia and China studies.Wang has published nine books (two co-edited) in two languages including the latest, The China Race: Global Competition for Alternative World Order (SUNY Press, 2024). He has also published dozens of book chapters and journal articles in four languages, including op-eds in newspapers like The New York Times and Christian Science Monitor.Wang taught at the U.S. Military Academy (West Point) and U.S. Air Force Academy (Colorado Springs), and held visiting and adjunct/honorary positions in institutions like European University Institute in Italy, Sciences Po in France, National Sun Yat-sen University and National Taiwan University in Taiwan, National University of Singapore, Renmin University and Anhui Normal University in China, University of Macau, University of Tokyo, and Sungkyunkwan University and Yonsei University in Korea.Wang has guest-lectured in over 50 universities worldwide and appeared in many national and international news media such as Al Jazeera, AFP, AP, BBC, CNN, The Financial Times, The New York Times, Radio China International, South China Morning Post, VOA, The Wall Street Journal, and the Xinhua News Agency. He has had numerous research grants including a Minerva Chair grant, a Fulbright Senior Scholar grant and a Hitachi Fellowship. He is a member of the Council on Foreign Relations.Socials:Follow on Twitter at @NucleCastFollow on LinkedIn: https://linkedin.com/company/nuclecastpodcastSubscribe RSS Feed: https://rss.com/podcasts/nuclecast-podcast/Rate: https://podcasts.apple.com/us/podcast/nuclecast/id1644921278Email comments and topic/guest suggestions to NucleCast@anwadeter.org

Interview recorded - 24th of July, 2024On this episode of the WTFinance podcast I had the pleasure of hosting Steve Hanke. Steve H. Hanke is a professor of applied economics and founder and co-director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at the Johns Hopkins University.During our conversation we spoke about Steve's economic outlook, the quantity theory of money, Hanke Golden Rule, US going into the recession, why FED's models are wrong, tariffs and more!0:00 - Introduction1:12 - Steve's current outlook?4:17 - What is causing the money supply shrinkage?6:12 - What is the quantity theory of money?10:12 - Why do central banks not look at money supply?14:27 - Hanke Golden Rule16:15 - Economic growth without money supply growth?22:30 - US going into a recession?23:52 - How bad could recession get?25:38 - FED late to the party26:44 - FED to change models?27:36 - What economies is Steve positive about?30:00 - Increasing tariffs impacts32:20 - Impact of money supply on markets?34:15 - One message to takeaway from conversation?Steve H. Hanke is a Senior Fellow, Contributing Editor of The Independent Review, and a Member of the Board of Advisors at the Independent Institute. He is a Professor of Applied Economics and Founder and Co-Director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at The Johns Hopkins University in Baltimore. He is also a Senior Adviser at the Renmin University of China's International Monetary Research Institute in Beijing, and a Special Counselor to the Center for Financial Stability in New York. Hanke is also a Contributing Editor at Central Banking in London and a Contributor at National Review. In addition, Hanke is a member of the Charter Council of the Society for Economic Measurement and a Distinguished Associate of the International Atlantic Economic Society. He is ranked as the world's third-most influential economics influencer by FocusEconomics in Barcelona, Spain.Steve Hanke: X -  https://x.com/steve_hankeBio - https://www.independent.org/aboutus/person_detail.asp?id=516WTFinance -Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4Twitter - https://twitter.com/AnthonyFatseas

China will reinforce the role of the Hong Kong Special Administrative Region as an offshore renminbi hub to bolster its efforts to steadily lift the global profile of the renminbi, a course that is significant for both China and the world economy, according to financial officials and experts.金融专家表示，中国将加强香港特别行政区作为离岸人民币业务枢纽的作用，提升人民币国际认可度，此举对国内及世界经济都具有重要意义。This would be a feasible option as China seeks to open its financial markets wider to overseas investors, while also forestalling the risks of any drastic fluctuations in cross-border capital flows that could threaten national security amid rising external uncertainties, they said.中国将向广大海外投资者开放金融市场，同时规避外界动荡所导致的跨境资本大幅波动对国家安全所造成的风险。Huang Yiping, dean of Peking University's National School of Development, said, "With full capital account liberalization unlikely in the short term, China should consider developing the Hong Kong SAR into the largest offshore renminbi market.""In this way, although 'nonresidents', or international investors, cannot completely freely enter and exit the capital market of the Chinese mainland, they can freely trade and hold renminbi-denominated assets in the Hong Kong market. This can provide crucial support for internationalizing the renminbi," he said.北京大学国家发展研究院院长黄益平表示：“由于短期内不太可能实现全面资本账户自由化，中国应考虑将香港特区发展成为最大的离岸人民币业务枢纽。这样一来，尽管‘非居民'、国际投资者无法完全进出中国大陆的资本市场，但仍可以在香港进行自由交易、计价持有人民币资产。”Huang's words echoed the resolution adopted at the third plenary session of the 20th Central Committee of the Communist Party of China, which vowed to promote high-standard opening-up of the financial sector, steadily and prudently advance the internationalization of the renminbi and develop offshore renminbi markets.中国共产党第二十届三中全会通过了《中共中央关于进一步全面深化改革推进中国式现代化的决定》（以下简称《决定》），要求推动金融高水平开放，稳慎扎实推进人民币国际化，发展人民币离岸市场。In an article published in a book to interpret the resolution, Wang Jiang, executive deputy director of the office of the Central Financial Commission — which is responsible for top-level design of financial stability and development — underlined strengthening the function of the Hong Kong SAR as a hub for offshore renminbi business as one of the key means to promote financial opening-up.中央金融委员会办公室分管日常工作的副主任、中央金融工作委员会分管日常工作的副书记王江在解读《决议》时强调，加强香港特别行政区作为离岸人民币业务枢纽的功能，是推动我国金融开放的关键手段之一。Tian Xuan, vice-dean of Tsinghua University's PBC School of Finance, said that Hong Kong's unique position as an international financial center should be further leveraged, citing that Hong Kong's advantages in terms of financial institutions, talent and infrastructure remain significant.清华大学五道口金融学院副院长田轩表示，香港作为国际金融中心，其独特地位应发挥作用，并指出香港在金融机构、人才和基础设施方面具有显著优势。However, Tian highlighted the need to appropriately handle the pace of financial opening-up and renminbi internationalization, especially regarding capital account liberalization."We need to continue opening up our capital markets. We still have a long way to go, but we must also learn from the lessons of other economies, particularly those in South America, that took overly aggressive steps that triggered financial chaos and even caused national security concerns."然而，我国需要妥善应对金融开放和人民币国际化，特别是在资本账户自由化方面，田轩认为：“我国还有很长的路要走，需要继续开放资本市场，但也必须吸取其他经济体的教训，尤其是南美洲经济体。（南美洲经济体）采取了过于激进的措施，引发了金融混乱，甚至引起国家安全的动荡。”The resolution also stressed financial security. It said that as China opens wider to the outside world, the country needs to "strengthen financial security mechanisms "and promote the development of a homegrown, controllable cross-border payment system.《决议》还强调了财政安全。随着中国对外开放的扩大，建设安全高效的金融基础设施，统一金融市场登记托管、结算清算规则制度，建立风险早期纠正硬约束制度，筑牢有效防控系统性风险的金融稳定保障体系。In an exclusive interview with China Daily, Zhu Min, former deputy managing director of the International Monetary Fund, said China is gradually advancing renminbi internationalization."It will take a long way. But I think the world sees that a dominant US dollar is not necessarily a good thing for the whole world, because US monetary policy and fiscal policy may have a big impact on the dollar's value and capital movements," Zhu said."Having a more balanced force against the dollar is good for the whole world. So I think the renminbi will continue to internationalize to serve that role, not only for China, but for the whole world, and particularly for international financial architecture," he added.国际货币基金组织原副总裁朱民接受中国日报《智见中国》栏目独家专访时表示：“中国正在逐步推进人民币国际化，尽管还有很长的路要走，但我认为全世界都应该看到，美元占领世界主导地位对世界来说并不一定是好事，因为美国的货币政策和财政政策可能会对美元价值和资本流动产生重大影响。（人民币）平衡美元的主导地位对于世界经济是有好处的。我认为人民币将继续国际化，对中国和国际金融架构发挥其平衡作用。”The renminbi has recently recovered against the dollar as investors seek diversification amid expectations of a US Federal Reserve rate cut and concerns over a US economic hard landing. The onshore renminbi came in at 7.2583 against the greenback on Monday afternoon, following a 557 basis point rebound on Thursday.人民币对美元汇率最近有所回升，有可能是投资者在对美联储降息的预期以及对美国经济硬着陆的担忧下寻求多元化投资。截至7月29日，在岸人民币对美元汇率收盘报7.2583，较上一交易日（7月25日）上涨557个基点。The RMB Internationalization Index, or RII, a comprehensive measure of the currency's global use regarding trade settlements, financial transactions and official reserves, reached 6.32 at the end of 2023, Renmin University of China's International Monetary Institute said on Saturday.7月27日，中国人民大学国际货币研究所（International Monetary Institute）表示，人民币国际化指数（RII）综合考虑了人民币在贸易计价结算、金融交易和官方储备等方面执行国际货币职能的情况（数值越大表示国际化越强）；截至2023年底，我国RII已达6.32。The figure was below the US dollar's 51.52 and the euro's 25.03, but exceeded the Japanese yen's 4.4 and the British pound's 3.76. The RII's full-year average rose 22.9 percent year-on-year to 6.27, highlighting the RMB's momentum as an emerging international currency due to its increasing use.该指数低于美元的51.52和欧元的25.03，但超过了日元的4.4和英镑的3.76。我国RII的全年平均值达6.27，同比增长22.9%；人民币作为新兴国际货币的势头与日益增长的使用量密不可分。RMB Internationalization Indexn.人民币国际化指数Renmin University of China's International Monetary Instituten.中国人民大学国际货币研究所

Renmin University of China has fired a professor who allegedly sexually harassed a doctoral student, the university announced on Monday night after concluding an investigation into allegations made public over the weekend.7月22日晚，中国人民大学通报教授被曝性骚扰，将解除聘用关系。On Sunday, a video surfaced online showing a doctoral candidate in literature publicly accusing her mentor of sexual harassment and coercive molestation.7月21日，一则视频在网上流传，中国人民大学文学院一名博士生实名举报其导师胁迫性骚扰。The student, who identified herself as Wang Di, alleged that her mentor, a professor at the university's School of Liberal Arts, and the former Party chief and vice-dean of the school, demanded a sexual relationship.这名叫王迪的博士在中国人民大学在读期间，被文学院原党委书记兼副院长、博导王某某性骚扰并强制猥亵。When she refused, he allegedly harassed her for the next two years and threatened to prevent her from graduating.她进一步透露，在她拒绝了导师的不正当要求后，其导师不依不饶，在过去两年多的时间里利用自己手中权力多次对她进行打压报复，并警告她可能无法顺利毕业。Wang said she had audio recordings and chat logs to substantiate her allegations and was seeking legal punishment for the professor.王迪表示她有录音和聊天记录来支持她的指控，并寻求对王贵元的法律惩罚。In a 59-minute video posted on the Sina Weibo micro blog platform, Wang wore a mask as she detailed the allegations of abuse and shared screenshots of messages and original audio clips as evidence.在新浪微博上发布的59分钟视频中，王迪戴着口罩详细描述了虐待的指控，并分享了消息截图和原始音频片段作为证据。The post has garnered more than 2 million likes, with many netizens calling for rectification of the academic environment.该帖子获得了超过200万的点赞，许多网友呼吁整治学术环境。The Beijing-based university said on Monday morning it established a working group on Sunday evening and conducted an overnight investigation, emphasizing its zero-tolerance policy toward any teacher's unethical misconduct.7月22日上午，中国人民大学表示，已于21日晚成立了工作组，并进行通宵调查，强调其对任何教师的不道德行为持零容忍政策。On Monday night, the university said the investigation had confirmed the allegations were true.7月22日，中国人民大学表示调查已证实举报属实。The professor was found to have severely betrayed the fundamental mission of teaching and nurturing students, and gravely violated university regulations and professional ethics, the university said in a post on Weibo.中国人民大学在微博发布的帖子中表示高度重视师德师风建设，严格坚持师德师风第一标准。该导师严重背弃教书育人的初心使命，严重违反党纪校规和教师职业道德。The university decided to revoke his professorship, cancel his qualification as a doctoral supervisor and terminate his teaching position.学校决定撤销其中国人民大学教师岗位任职资格，解除聘用关系。The professor has also been expelled from the Communist Party of China. The university said it will ask the higher education administrative department to revoke his teaching credentials and will report the case to relevant authorities, according to the law.经研究决定，给予王某某开除党籍处分，撤销教授职称。同时，报请上级教育行政部门撤销其教师资格，并将问题线索依法反映给有关机关。On Monday, the Haidian District Branch of the Public Security Bureau of Beijing also announced it had initiated an investigation of the case.7月22日，北京市公安局海淀区分局宣布已依法介入调查。Renmin University of Chinan.中国人民大学

China's new round of financial reform is expected to focus on improving the financial system's ability to better support the country's modernization drive, with a priority on bolstering technological innovation and the broader real economy, said financial experts and executives.Also expected to be high on the agenda of the unfolding reform are intensifying financial regulation and strengthening the crackdown on violations to fend off financial risks, as well as deepening financial opening-up to improve resource allocation efficiency, they said.Their comments come at a juncture when the market eagerly waits to see how China will set the tone for the road map for future financial reform and opening-up at an upcoming vital reform meeting — the third plenary session of the 20th Communist Party of China Central Committee, which is scheduled to be held in Beijing from Monday to Thursday.Early this year, President Xi Jinping urged efforts to accelerate the building of a modern financial system with Chinese characteristics at the opening of a study session at the Party School of the CPC Central Committee (National Academy of Governance).Xi, who is also general secretary of the CPC Central Committee, emphasized that the path of financial development with Chinese characteristics adheres to the fundamental purpose of serving the real economy and takes preventing and controlling risks as the eternal theme of financial work.Tian Xuan, associate dean of Tsinghua University's PBC School of Finance, said that one of the core objectives of China's financial reform should be building a modern financial system that efficiently serves the real economy, especially when it comes to financing innovative emerging sectors at lower costs, in order to support technological innovations and nurture new quality productive forces.He said the country's financial reform is expected to feature strengthened regulation to fend off any systemic risks, with the focus being on financial fraud crackdown in the capital market as well as on deficiencies in the supervision and governance of small and medium-sized financial institutions."Our financial markets are still developing and not yet mature. We need the government to play its role well to correct market failures," said Tian, who is also a deputy to the National People's Congress, the country's top legislature.Tian said he expects the upcoming plenary session to introduce reform measures aimed at further developing venture capital — investment funds that invest in startups for long-term growth and are among key accelerators of technological innovation.A meeting on April 30 of the Political Bureau of the CPC Central Committee, which was presided over by Xi, called for efforts to actively develop venture capital and strengthen "patient capital", or investment that generates healthy returns in the long run.The emphasis on venture capital has reflected China's broader efforts in capital market reform. China's financial system is now dominated by the banking industry, yet the capital market is seen as more capable of supporting innovation activity. This makes further capital market development an integral step for China, in order to ensure that the financial system becomes more capable of serving its modernization pursuit, experts said.In April, the State Council, China's Cabinet, released a guideline that rolled out nine measures to promote high-quality development of the capital market, drawing up a blueprint for the market and featuring an intensified crackdown on securities violations and strengthened investor protection.Wu Xiaoqiu, dean of Renmin University of China's National Academy of Financial Research, said the guideline has set the right tone for future capital market reform, urging "tough laws and harsh punishments" to stem violations and address the prominent issues of fraudulent listings and false disclosures.The compensation system for small investors affected by those malpractices and induced delistings should also be improved on both the civil and judicial fronts, Wu said.China's A-share market rallied on Thursday, with the benchmark Shanghai Composite Index rising 1.06 percent on Thursday to close at 2,970.39 points, following a policy measure issued on Wednesday to restrict short-selling.At the Central Financial Work Conference in November, Xi called for giving full play to the pivotal role of the capital market, advancing the registration-based initial public offering system and steadily expanding institutional opening-up in the financial sector.Experts also underlined the need for China to widen opening-up to strengthen the financial system's ability for resource allocation, expecting the upcoming reform meeting to call for ensuring a transparent, predictable regulatory environment for foreign investors and reinforcing the role of Hong Kong as an international financial hub.Zhang Xiaoyan, a chair professor of finance at Tsinghua University's PBC School of Finance, said she expects the country to further drive financial opening-up to attract more foreign institutional investors, whose global perspective and investment expertise will help channel more resources to technological companies with real strength.Thierry Leger, CEO of Paris-based global reinsurer SCOR, said that China's step-by-step financial opening-up has helped shape a high level of confidence, and it is important for the country to continue to build a stable regulatory environment for foreign investors.Eugene Qian, China country head of UBS and chairman of UBS Securities, said the Swiss financial giant, having benefited from China's capital market reform and opening-up, will continue to leverage its international experience and local expertise to support China's further reform in the capital market.Reporter: Zhou Lanxu, Liu Zhihua, Ouyang Shijiaresource allocation efficiency资源配置效率the path of financial development with Chinese characteristics中国特色金融发展之路market failures市场失灵

President Xi Jinping's attendance at the upcoming Shanghai Cooperation Organization summit in Astana, the capital of Kazakhstan, is part of a major diplomatic move by Beijing toward its neighbors and will give a strong boost to the building of the SCO community with a shared future, analysts said.From Tuesday to Saturday, Xi will attend the 24th Meeting of the Council of Heads of State of the SCO and make state visits to Kazakhstan and Tajikistan, Foreign Ministry spokeswoman Hua Chunying announced on Sunday.Xi has attended the SCO summit for 11 consecutive years since 2013 and delivered speeches to each gathering in a face-to-face or virtual format.He has frequently emphasized the need to carry forward the "Shanghai Spirit" — a tenet of the grouping that features mutual trust, mutual benefit, equality, consultation, respect for cultural diversity and pursuit of common development.In addition, Xi has issued China's initiatives at the gatherings on boosting solidarity and cooperation within the grouping. For example, at last year's summit, hosted by India, he announced that the country will carry out digital technology training programs in collaboration with the China-SCO Big Data Cooperation Center, and will host an SCO national green development forum.The upcoming visit is "another major diplomatic action of China toward Central Asian countries" and the Eurasian region, Xinhua News Agency reported on Sunday.Sun Zhuangzhi, director of the Institute of Russian, Eastern European and Central Asian Studies at the Chinese Academy of Social Sciences, said that Xi's visit will further pool strength for the SCO to work together in the same boat, promote the quality and upgrading of cooperation in many fields, including economy, security and culture, and "inject more positivity into world peace and development".At the summit in Astana, leaders of member states will discuss a wide range of topics such as politics, trade, economy and culture. Leaders of observer states and dialogue partner countries will also attend, according to the Kazakh government.The summit will witness the signing of a series of documents, including the SCO Development Strategy through 2035, Kazakh officials said.In the 23 years since its founding, the SCO has made remarkable achievements in maintaining the region's security and stability, deepening practical cooperation in various fields, and increasing its international influence and appeal, analysts said.SCO Secretary-General Zhang Ming suggested that the member states continue to carry forward the "Shanghai Spirit" and advance the implementation of the organization's teamwork in various fields.While attending a forum last month in Tashkent, the capital of Uzbekistan, Zhang also called for strengthened reform and improvement of the organization's work to ensure that SCO cooperation "keeps pace with the times and moves to new heights".Guan Xueling, director of the Renmin University of China-St. Petersburg State University Center for Russian Studies, said the Astana summit will testify to the organization's growing influence and international status.Topics will include the SCO's plans for further development, how to better synergize the Belt and Road Initiative with the development visions of other member countries, and how to truly realize the strategic autonomy of the Global South, Guan said at a recent seminar in Beijing."Given the dampened international turmoil, crises and global governance deficit, the SCO has become a very important player in maintaining the region's security and stability and fostering development and prosperity," she added.Zhao Huirong, a research fellow at the Chinese Academy of Social Sciences' Institute of Russian, Eastern European and Central Asian Studies, said the SCO faces a number of opportunities as well as multiple challenges."The opportunities include the fact that the SCO is being favored by an increasing number of developing countries because of its commitment to the 'Shanghai Spirit' amid the persistent geopolitical confrontations in the world," she said.At the same time, the SCO faces a much more complex geopolitical environment, a tougher regional and international security setting, and a number of alarming areas related to unconventional security, she added.Vladimir Norov, former SCO secretary-general and former foreign minister of Uzbekistan, said the organization's spirit of solidarity, mutual trust and collaboration is "particularly precious in today's world"."The SCO should keep on cooperating in this spirit in the fight against the three evil forces (separatism, extremism and terrorism), tackling climate change, the response to cyberattacks, and ensuring the security of artificial intelligence," he told the newspaper 21st Century Business Herald.Reporter: Zhang YunbiShanghai Cooperation Organization (SCO)n.上海合作组织China-SCO Big Data Cooperation Centern.中国-上海合作组织大数据合作中心

China's plan to sell 1 trillion yuan ($138 billion) in ultra-long-term treasury bonds marks its latest move to bolster fiscal support for the economy, a step that experts say will stabilize expectations, boost domestic demand and shore up growth.中国计划出售1万亿元（1,380亿美元）超长期国债，这是中国加强财政支持经济的最新举措，专家认为这一举措将稳定预期、促进内需并支撑经济增长。The issuance of 1 trillion yuan in ultra-long central special sovereign bonds will begin on Friday and run until mid-November. Three tenors are being planned — 20-year, 30-year and 50-year bonds, the Ministry of Finance said on Monday.1万亿元超长期特种国债将于5月17日开始发行，一直持续到11月中旬。5月13日，财政部表示，计划发行三种期限的债券——20年期、30年期和50年期。"The ultra-long bond issuance marks the introduction of a new policy tool that will be vital for supporting the government's investment in key projects, which will give full play to the crucial role of government investment in shoring up economic growth," said Zhang Liqun, a researcher at the macroeconomic research department of the Development Research Center of the State Council.国务院发展研究中心宏观经济研究部研究员张立群表示：“超长期债券的发行标志着一种新的政策工具的出台，对支持政府重点项目投资将起到至关重要的作用，这将充分发挥政府投资对经济增长的关键支撑作用。”The country aims to raise funds for major national strategies and build up security capacity in key areas, especially in fields including technological innovation, coordinated regional development, ensuring grain and energy security, and the high-quality development of the population.国家旨在为重大国家战略筹集资金，加强关键领域的安全能力建设，特别是在技术创新、区域协调发展、确保粮食和能源安全以及人口高质量发展等领域。Experts said the issuance and use of the bonds will not only expand effective demand and help achieve the annual growth target this year, but also will be conducive to fostering new quality productive forces and promoting high-quality development in the long run.专家表示，债券的发行和使用不仅可以扩大有效需求，助力今年全年增长目标的实现，从长远来看，也有利于培育新质生产力，推动高质量发展。As the broader economy is still facing pressures from still-weak domestic demand, Zhang, the researcher, said the issuance and use of ultra-long bonds will accelerate the implementation of key projects and boost related orders, thereby promoting production and investment by businesses, stabilizing employment and stimulating consumer spending.张立群研究员表示，在当前经济仍面临内需疲软的压力下，超长期债券的发行和使用将加快重点项目的实施，拉动相关订单，从而促进企业生产和投资，稳定就业，刺激消费。Zhang said the funds that are raised will be used to support key projects and fields, including urban underground pipe network projects, upgrades of the education and healthcare systems, and boosting China's strengths in transportation, providing a solid foundation for China's long-term and high-quality growth.张立群表示，筹集到的资金将用于支持重点项目和领域，包括城市地下管网项目、教育和医疗系统的升级改造、提升中国在交通方面的优势等，为中国的长期和高质量发展提供坚实的基础。Luo Zhiheng, chief economist at Yuekai Securities, said the ultralong bond issuance will help expand demand, consolidate the foundation for economic recovery and optimize the economic structure.粤开证券首席经济学家罗志恒表示，超长债的发行有利于扩大需求，巩固经济复苏基础，优化经济结构。He also said the move will help optimize the debt structure of the central and local governments.他还表示，此举将有助于优化中央和地方政府的债务结构。Hong Hao, chief economist at GROW Investment Group, said the ultra-long treasury bond issuance, together with the special government bond to be issued by November, represents an expansion in fiscal deficit.思睿集团首席经济学家洪灏表示，超长期国债的发行，以及将于11月发行的特种国债，意味着财政赤字的扩大。Together, these bonds represent over 1 percent of GDP and are a powerful fiscal expansion that the market is looking for. In a low-rate environment and with low leverage on the central government's balance sheet, it pays to borrow to boost fiscal expansion, Hong said.这些债券合计占GDP的1%以上，是市场所期待的强有力的财政扩张。洪灏表示，在低利率环境下，中央政府资产负债表的杠杆率较低，借债促进财政扩张是值得的。Regarding China's plan to issue ultra-long, special-purpose treasury bonds for several consecutive years, Liu Sushe, deputy head of the National Development and Reform Commission, said the country has drafted an action plan to support its key strategies and enhance its capacities to ensure security in key areas.关于中国计划连续几年发行超长期特殊用途国债的问题，国家发展和改革委员会副主任刘苏社表示，中国已起草了一份行动计划，以支持中国的重点战略，并提高确保重点领域安全的能力。Liu told a news conference in April that the focus will be on achieving greater self-reliance and strength in science and technology, promoting integrated urban and rural development, and enhancing the capabilities of ensuring grain and energy security.刘苏社在4月份的一次新闻发布会上说，重点将放在增强自力更生能力和科技实力、促进城乡统筹发展、提高保障粮食和能源安全的能力上。Zhao Xijun, co-director of the China Capital Market Research Institute at Renmin University of China, said that issuing ultra-long-term special treasury bonds to support strategically important innovation projects can be an innovative way to leverage fiscal policy to build China's scientific strength.中国人民大学中国资本市场研究院联席院长赵锡军表示，发行超长期特种国债支持具有战略意义的创新项目，可以说是利用财政政策建设中国科技实力的一种创新方式。Louise Loo, lead economist at British think tank Oxford Economics, noted that authorities are pledging the upcoming bond proceeds for the building up of "security capacity" in strategic projects in the areas of science and technology innovation and socioeconomic development.英国智库牛津经济研究院首席经济学家卢姿蕙指出，政府承诺即将获得的债券收益用于建立科技创新和社会经济发展领域战略项目的“安全能力”。On the monetary policy front, Loo said the People's Bank of China, the nation's central bank, is likely to facilitate the increased bond pipeline by keeping liquidity conditions loose and increasing its role in secondary Chinese government bond trading.在货币政策方面，卢姿蕙表示，中国人民银行作为中国的中央银行，可能会通过保持宽松的流动性条件和增加其在中国二级政府债券交易中的作用，来促进债券渠道的增加。ultra-long-term treasury bonds超长期国债new quality productive forces新质生产力fiscal deficit财政赤字

①TikTok says it will challenge the U.S. ban signed into law by President Joe Biden and expects an ultimate win.(00:53) ②Our exclusive interview with renowned Chinese economist Professor Wen Tiejun of Renmin University of China on so-called "overcapacity" in China's green industries.(15:00) ③The UN human rights body has expressed horror at the discovery of hundreds of bodies from mass graves in Gaza and called for an investigation.(25:30) ④China says EU investigation into China's medical device market shows the bloc is moving towards protectionism.(35:00) ⑤An industrial expert says China will become a major producer, consumer, and exporter of hydrogen technologies, which would help reduce costs globally.(44:03)

China and the United States are strengthening financial cooperation through the China-US Financial Working Group, a positive and essential step for preventing global financial crises and injecting stability into the fragile global economy, experts said.They commented after the China-US Financial Working Group held its fourth meeting on Tuesday in Washington. The meeting was co-chaired by Xuan Changneng, deputy governor of the People's Bank of China, and Brent Neiman, assistant secretary of the US Department of the Treasury, with financial regulators participating.The PBOC, China's central bank, said on Wednesday that the two sides had "professional, pragmatic, candid and constructive" discussions on topics such as monetary policy and financial stability, financial supervision cooperation, institutional arrangements in financial markets, cross-border payment and data, sustainable finance, anti-money laundering efforts, countering the financing of terrorism and financial infrastructure.The working group was established by the two sides in September to strengthen communication on financial topics.US Treasury Secretary Janet Yellen met with the Chinese delegation, and the two sides agreed to continue to maintain communication, according to the PBOC.The meeting came shortly after Yellen visited China earlier this month, when the two sides agreed to continue to conduct exchanges on financial stability, sustainable finance, anti-money laundering and other issues under the framework of the financial working group.Liu Ying, a researcher at the Chongyang Institute for Financial Studies of Renmin University of China, said the meeting was of great significance in delivering a positive signal that China-US economic and financial ties are steadily recovering.Liu said: "In recent years, the relationship between China and the US has experienced significant fluctuations. The fact that the two sides are continuously engaging through the financial working group indicates that their bilateral relationship is moving toward stabilization and recovery, bringing a certain level of stability and certainty to the world economy."The China-US meeting came at a time when global stock and bond markets are under pressure, as recent US inflation reports showed persistent price pressures and Fed officials have hinted that US monetary policy may need to be restrictive for longer.Liu Chunsheng, an associate professor at the Central University of Finance and Economics' School of International Trade and Economics, said that against such a backdrop, it is of particular significance for China and the US to strengthen exchanges concerning monetary policies and financial stability."This will help the two sides better understand each other's monetary policy moves, strengthen mutual trust and work together to address any potential financial stresses," Liu said.According to the US Department of the Treasury, the two sides held a technical exchange in March to discuss each jurisdiction's approach to financial stability oversight and make plans for technical exercises on financial stability.Liu from Renmin University of China said that if the US does not lower interest rates, that could exacerbate global financial fragility by intensifying the pressures of local currency depreciation and capital outflows in other economies. It also could sustain the stress within the US banking system and increase the vulnerability of elevated US government debt, she said.Therefore, the world's two biggest economies "need to and must" strengthen communication for macroeconomic policy coordination, Liu said, adding that the US side should keep China updated on its monetary policy decisions, while the Chinese side should help ensure that the US avoids implementing beggar-thy-neighbor monetary policies.Also on Tuesday, the China-US Economic Working Group held its fourth meeting, during which officials from both sides exchanged views on topics including the macroeconomic situations of the two countries as well as the world, balanced growth, and future communication arrangements, the Ministry of Finance said on Wednesday.China expressed concerns over US trade and economic restrictions against China and provided further responses on the production capacity issue, the ministry said.

Linkedin / Instagram / Thread: @thevincechan Vince, an Amazon bestselling author in career management, is a globally recognized speaker on the 'future of work.' Her unique expertise comes from a blend of being a Chicago-trained behavioral economist and the former Asia-Pacific head of a billion-dollar U.S. investment firm. Raised in Hong Kong and Canada, Vince pursued economics, followed by MBA degrees from Yale University and Chicago Booth School of Business. Her professional acumen is further solidified by U.S. CPA and CFA® credentials. Vince's vibrant 15-plus-year corporate career has spanned global financial markets, with significant roles at S&P Global Ratings, the Hong Kong Monetary Authority, Deloitte, PricewaterhouseCoopers, and TCW Asset Management. Among her standout achievements are raising $1 billion in collaboration with 'King of Bonds' Jeffrey Gundlach and Goldman Sachs, and facilitating over 100 multi-million-dollar funding transactions for Top 50 global banks. Separately, her contributions have been recognized with accolades such as Forbes China's Outstanding Overseas Returnee in 2015 and Yale School of Management's Outstanding Volunteer Leadership award in 2018. A decade ago, Vince boldly transitioned from finance to the 'future of work' sector. Since then, she has actively modernized the workforce, working in both traditional and digital education spheres. In Beijing, her collaboration with Renmin University of China (China's Top 10) yielded a popular career guide. She further supported career advancement for the Schwarzman Scholars. In Shanghai with New Oriental (NYSE: EDU), she designed and taught business school preparatory programs to thousands of students. In Hong Kong, she co-developed an entrepreneurship program inspired by Chicago Booth's Polsky Center. Vince's impact extends to global stages like SXSW, ASU-GSV, Web Summit, and RISE conference. There, she has shared insights alongside leaders from Degreed, Google, and Udemy, driving forward conversations on workforce development in the tech era. Her personal motto, "own your change, or be changed," reflects her resilience through 18 career transitions and six major economic crises. Vince's journey through three burnouts has become a testament to her strength, showcasing her ability to thrive through transformative challenges. Beyond her professional pursuits, Vince is a WSET certified wine connoisseur, appreciating richly structured wines. She also enjoys playing tennis, constructing intricate Lego models, and delving into deep stories across various media. Her favorites include classics like “The Godfather,” “The Sound of Music,” “Sherlock,” Vivaldi's “The Four Seasons,” as well as literary works like “On Tyranny,” “The Little Prince,” and the “Harry Potter” series. Vince Chan's Career Journey and Future Plans Vince Chan shared his professional background and future plans. He has been in the corporate and financial world for over 15 years and has worked for major institutions in Hong Kong, Asia, and the US. Post the credit crisis, he moved into entrepreneurship and became an author, writing two books for young professionals. He also worked as a leadership coach in China and Hong Kong. Vince Chan expressed his interest in setting up an investment fund for new ventures and his desire to make a greater contribution to society, especially in the areas of education technology and future skills. He also shared his personal struggles, including career changes, economic crises, and mental health issues, but emphasized his resilience and current thriving state. Resilience, Adaptability, and Future of Work Vince Chan highlighted the importance of resilience and adaptability in facing work challenges, including burnout. Michael D. Levitt shared his personal experiences with mental issues and discussed the future of work and skills in the context of AI and emerging technologies. Michael suggested an introduction between Vince Chan and a career individual seeking advice. The conversation concluded with Vince Chan discussing the significant changes brought about by the current global crisis, emphasizing the need to adapt to these unprecedented changes. Emphasizing Individual Control and Learning Amidst Covid-19 Vince Chan emphasized the importance of individuals taking control of their own change, rather than being forced to adapt to changes imposed by others. He highlighted the need for continuous learning, especially in the areas of digital and human-centric skills. However, he also pointed out that many education technology platforms merely recycle existing content without focusing on skills such as career development, navigation, and reinvention. Michael D. Levitt agreed with Vince Chan's points, noting the traumatic impacts of forced changes like lockdowns and border closures due to the Covid-19 pandemic. Embracing Change and Control in Career and Life Michael D. Levitt emphasized the importance of taking control of one's own life and career, highlighting the dangers of stressing over things beyond our control. He encouraged people to gain exposure to different experiences, including volunteering, to broaden their skills and consider career changes. He also cautioned against rushing into the use of new technologies like AI without understanding the underlying business needs first. Vince Chan agreed with Michael's points, extending the metaphor of running one's life like a business, regardless of one's profession. Portfolio Careers and Authenticity Intelligence Summary   Introductions and backgrounds @ 0:00 Vince shares his background transitioning between 16 careers in finance and experiencing burnout. Michael acknowledges the value of Vince's diverse experiences in navigating change. Navigating change and career reinvention @ 4:30 Vince asserts that owning change through authenticity intelligence allows thriving amid uncertainty. Learning new skills maintains career control. Michael affirms that diverse experiences foster adaptability. Owning your change and authenticity intelligence @ 14:45 Vince advocates becoming the CEO of one's career by embracing change. Authenticity intelligence outweighs technical skills. Michael agrees that controlling life's direction through continuous self-improvement ensures fulfillment. The future of work and skills @ 16:00 Vince stresses developing navigation and reinvention skills is critical futureproofing. Technical skills alone are insufficient. Michael concurs that testing new tools prevents wasted efforts that complicate tasks. Building your portfolio career and business model @ 22:51 Vince recommends monetizing diverse talents through an entrepreneurial mindset. Authenticity emerges from understanding one's purpose. Michael encourages volunteering to explore careers and gaining exposure for informed choices. Conclusion and next steps @ 27:45 Vince and Michael appreciate their discussion and look forward to future collaborations. Vince invites Michael on his podcast to share burnout solutions. They agree on the importance of ownership in career reinvention.  

Tensions between China and the Philippines over the South China Sea are showing no signs of calming down. China was widely seen as the target when Philippine President Ferdinand Marcos Jr. recently ordered his government to strengthen coordination on maritime security to confront what he called "a range of serious challenges". Twice in three months, China's foreign ministry has delivered a warning to the Philippine side that the bilateral relations are at a crossroads.Are there still conditions for Beijing and Manila to lower tensions? Host Ding Heng is joined by Rong Ying, Senior Research Fellow at China Institute of International Studies; Herman Laurel, President of Asian Century Philippines Strategic Studies Institute; Howard Co, Philippine entrepreneur and currently a graduate student studying international relations and contemporary Chinese studies at Renmin University of China.

Investors are regaining confidence in China's stock market. Major benchmark indexes have recovered as authorities tighten supervision over the quality of the companies to float on the stock exchanges, amongst other support measures. Will China's battered equity markets increase or decrease in the coming months? Is the undervalued Chinese stock market the world's best value proposition, as seen by some financial experts? For more, host Tu Yun joins John Ross, a Senior Fellow at the Chongyang Institute for Financial Studies, Renmin University of China, Dr. John Gong, Professor of Economics, University of International Business and Economics, and Chen Jiahe, the Chief Investment Officer of Beijing-based Novem Arcae Technologies for a close look at the issue on this episode of Chat Lounge.

As the Chinese people prepare for family reunions to be held during the upcoming Spring Festival, their most important holiday of the year, President Xi Jinping conveyed messages of good wishes, support and confidence for the Lunar New Year.The messages were extended to Chinese at home and abroad as Xi, who is also general secretary of the Communist Party of China Central Committee, made a two-day fact-finding trip to Tianjin starting on Thursday, during which he surveyed a disaster-hit village, a bustling ancient street and a museum.The practice of visiting grassroots families, long upheld by the nation's top leader, showcases a people-oriented development philosophy and the strong emphasis of the nation's leadership on improving the people's well-being, analysts said.Braving freezing temperatures, Xi visited the village of Diliufu, where farmland was hit by devastating floods in late July and early August.It was the third time that the president has visited the flood-hit households since September, as he highlighted the need to ensure that the families have a warm winter.In the village, Xi spoke with vegetable farmers whose facilities were damaged in August, before sitting down for talks with a family of four generations living under one roof.While expressing his delight at the progress of the village's post-disaster recovery, Xi told the villagers that the Party's central leadership has "made a resolution to improve the livelihood of the people by striving to enhance the construction of water conservancy and flood control projects".The message from the president resonated strongly with the villagers of Diliufu.Zhang Caiyun, a 64-year-old resident, said the president's visit has "given the village a festive atmosphere before the arrival of Spring Festival", which falls on Saturday.She said that for her, the visit was filled with touching moments, as Xi patiently inquired about the villagers' daily lives."I didn't expect that the general secretary would visit and that he would pay such particular attention to matters of our concern," she said.The fact that Xi assured the residents that the nation's top leadership would scale up its investment in water management projects gave a lift to villagers like Zhang.She said the flooding in August hit the village extremely hard, as farmers saw their rice paddies and greenhouses damaged. Part of the flooded farmlands has now been planted with wheat and vegetables, with a majority of the greenhouses already repaired.Du Zixi, an entrepreneur who has invested in a tourism program in Diliufu, said the president not only conveyed warmth to the residents, but also extended confidence to businesses.She said the flooding last year nearly washed away years' worth of her company's investment in the village.As the president delivered assurances that more steps would be taken to improve water management projects for the public's well-being, Du said her company will continue to invest in the village and create more jobs for local residents.Han Qiang, dean of the School of Marxism at Beijing Foreign Studies University, said that during the trip, the president rallied the public to have "full of confidence" for the new year."Strong confidence is the key to overcoming the difficulties facing the economy. It is also a must for the nation as it navigates through a complex global landscape to secure its second centenary goal," he said. The second centenary goal is to turn China into a modern socialist country that is prosperous, strong, democratic, culturally advanced, harmonious and beautiful by the time the People's Republic of China celebrates its centenary in 2049.Since he was first elected as general secretary of the CPC Central Committee in November 2012, Xi has made it a regular practice to visit families ahead of the Lunar New Year, especially rural households and groups with difficulties.Between 2013 and 2022, Xi visited rural families in Gansu, Shaanxi, Jiangxi, Hebei, Sichuan, Yunnan, Guizhou and Shanxi provinces and the Inner Mongolia autonomous region before the festival, underscoring the Party's unwavering commitment to boosting rural development.Families that have been affected by natural disasters such as earthquakes and floods are another priority for Xi when choosing the destinations for his trips ahead of the Lunar New Year.In Shanxi, he visited the home of a family that had been hit by floods in 2021 and learned about their living conditions. In 2018, he visited Yingxiu, a township in Wenchuan county of Sichuan province, which was the epicenter of a major earthquake that killed tens of thousands in 2008.Ma Liang, a professor of public administration at Renmin University of China, said Xi's visits to disaster-hit families before Spring Festival showed the strong level of support from the top leadership when the families needed it the most.The trip to Tianjin again reflected the president's high regard for the people and their well-being, he said."It also sent a message to Party and government officials that they must care for the people, make every effort to solve their livelihood issues, and truly put the people at the center during the most important holiday of the year," he said.Reporter: Xu Wei, Yang Cheng Zhang Yu contributed to this story.

笔记：sexology /sekˈsɑːlədʒi/ n. 性学sexologist /sekˈsɑːləɪstdʒɪst/ n. 性学家 sexology 就是性学的意思，sex就是性，ology 是表示科学、学问一个后缀，那性学家就是 sexologist。Pan is ranked as “the first person of Chinese Sexology” and “the godfather of sexology” by Chinese media.潘绥铭被中国媒体评为“中国性学第一人”和“性学教父”。He is a Chinese sexologist and professor at the Renmin University of China who has taught sexology for more than 30 years.他是中国的一位性学家，也是中国人民大学的教授，教授性学超过30年。 获取节目完整音频、笔记和片尾的歌曲名，请关注微信公众号「早安英文」，回复“笔记”即可。更多有意思的英语干货等着你！

China has attained a year-on-year real GDP growth rate of 5.2% in the first three quarters. Meanwhile, the annual Central Economic Work Conference has characterized the Chinese economy in 2023 as having achieved recovery and solid progress in high-quality development. Despite these positive indicators, some of the Western media persist in perpetuating the cliché of the "collapse of the Chinese economy." What truly reflects the outlook of the Chinese economy? Host Ge Anna is joined by Prof. Qu Qiang, Research Fellow from Beijing Foreign Studies University; Prof. Liu Baocheng, Director of the Center for International Business Ethics at the University of International Business and Economics; John Ross, Senior Fellow with the Chongyang Institute of Financial Studies, Renmin University; and Andy Mok, Senior Research Fellow at the Center for China and Globalization.

Tom welcomes back Steve Hanke Professor of Applied Economics - Johns Hopkins University. In this discussion, Professor Steve Hanke emphasizes the potential benefits of dollarization for Argentina's economy. He references the country's history of economic instability, multiple currency and banking crises, and high inflation rates. Hanke suggests that dollarization, similar to the strategies implemented in Ecuador and El Salvador, could lead to a significant reduction in inflation and increase access to long-term credit. He also highlights the success of dollarization in countries like Panama and Hong Kong. Hanke argues that dollarization would align Argentina more closely with the United States, making its currency more secure and convertible. He points out that the stability brought by dollarization would create greater opportunities for the demand of Argentinian goods, particularly in the agricultural sector. He also states that dollarization simplifies borrowing and stabilizes foreign exchange, which benefits the circulation of the US dollar. However, Hanke acknowledges that a reserve would be needed for small change and suggests that it should be backed at a one-to-one rate with US dollars. He dismisses the idea of using gold or Bitcoin as unnecessary especially with a population already highly reliant on U.S. Dollar Notes. Hanke also addresses the political challenges of dollarization, mentioning that the concept may face opposition from the political class who would lose the ability to borrow money from a central bank. Additionally, he highlights the disproportionate impact of the inflation tax on lower-income individuals, underscoring the importance of maintaining a strong budget. Overall, Hanke asserts that dollarization can bring stability, reduce inflation, and create economic opportunities for Argentina. He believes that adopting the US dollar would help mitigate the country's past economic challenges and align it more closely with economically successful nations. Time Stamp References:0:00 - Introduction0:55 - Argentine Monetary History6:52 - How To Dollarize12:37 - Argentina Reserves14:00 - Gold Backed Peso?16:07 - Gold Reserves17:05 - El Salvador & Bitcoin18:11 - Coinage Provisions?19:02 - Stability Benefits24:00 - Exports & Invoicing25:35 - US Dollar Demand27:00 - Bond Issuances?28:10 - BRICS Question?28:42 - Responsible Politics?29:12 - Citizenry & Budgets30:50 - Wrap Up Talking Points From This Episode Argentina attempted to dollarize the economy numerous times but failed due to lack of votes and unsustainable monetary policies. Steve Hankey suggested dollarization as a viable solution which would likely cause inflation to plummet and long-term credit to become accessible. A dollarized system would create a 'confidence shock' and benefit those on lower incomes by reducing the impact of the inflation tax. Guest Links:Twitter: https://twitter.com/steve_hankeWebsite: https://thegoldsentimentreport.comWebsite: https://www.cato.org/people/hanke.htmlWebsite: https://sites.krieger.jhu.edu/iae/about/co-directors/Email: hanke@jhu.edu Steve H. Hanke is a Professor of Applied Economics and Founder & Co-Director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at The Johns Hopkins University in Baltimore. He is a Senior Fellow and Director of the Troubled Currencies Project at the Cato Institute in Washington, D.C., a Senior Advisor at the Renmin University of China's International Monetary Research Institute in Beijing, a Special Counselor to the Center for Financial Stability in New York, a contributing editor at Central Banking in London, and a regular contributor to the Wall Street Journal's Opinion pages. Prof. Hanke is also a member of the Charter Council of the Society of Economic Measurement and of Euromoney Country Risk's Experts Panel. In the past, Prof. Hanke taught economics at the Colorado School of Mines and at the Unive...

China's Xizang region has seen its economy grow fast over the past decade. Official data shows its GDP exceeded about 29 billion US dollars last year, more than doubling the figures in 2012. What insights can we glean about the tangible transformation of the region from this economic progress? Host Ge Anna is joined by Dr. Yao Shujie, Chueng Kong Professor of Economics, Chongqing University; Dr. Liu Zhiqin, Senior Fellow of Chongyang Institute for Financial Studies, Renmin University of China; and Mario Cavolo, Founder and CEO of M Communications Group and Senior Fellow, Center for China and Globalization.

There is no doubt about it: China is rising. Whether it sparks hope and interest or fear and worry, it is impossible to ignore the country's rapid economic and social transformation. Just a few decades ago, the words “made in China” were a synonym for bad quality junk. But today, China leads the world in all manner of high-tech industries, including photovoltaic cells, semiconductors, 5G communications technologies, and electric vehicles.Joining “MintCast” host today is someone who knows China extremely well. John Ross is an economist and a senior fellow at the Chongyang Institute for Financial Studies of the Renmin University of China. As far back as 1992, he accurately predicted the failure of economic reform in Russia and Eastern Europe and its success in China. He is the author of the book, “China's Great Road: Lessons for Marxist Theory and Socialist Practices.” He writes on Chinese politics and economics on his website, “Learning From China.”While many in the West take a very dim view of China, Ross is far more positive, telling MacLeod that China has seen the highest sustained economic growth of any country in world history. “People don't understand the scale of China's success, and they still don't understand what it means, therefore, in the transformation of the lives of ordinary Chinese people,” he said.Few in the Western media landscape would agree with Ross' position. Some might acknowledge China's rapid and remarkable transformation, but many are predicting that it is now entering a permanent slump or even an economic meltdown due to a property crash.Ross brushed off these concerns. “These articles are a farce,” he said, suggesting that a good course of action for understanding the truth about China is to “Read ‘The Economist' and assume that the opposite is going to take place.” He also noted that the current trade war with China has nothing to do with human rights, the rules-based international order, or any other buzzword the United States wishes to use. In fact, he argued, the United States is attempting to throttle China's economy because it cannot effectively boost or speed up its economy.From there, MacLeod and Ross also talked about Chinese rivalry with the United States, the high-tech trade war going on, the situation in Taiwan and the threat of a potential nuclear conflict between the superpowers.Support the showMintPress News is a fiercely independent. You can support us by becoming a member on Patreon, bookmarking and whitelisting us, and by subscribing to our social media channels, including Twitch, YouTube, Twitter and Instagram. Subscribe to MintCast on Spotify, Apple Podcasts, and SoundCloud. Also, be sure to check out the new Behind the Headlines channel on YouTube and subscribe to rapper Lowkey's new video interview/podcast series, The Watchdog.

China's economic landscape has become a focal point of extensive debate. Amidst a flurry of Western media predictions ranging from "stagnation" to "collapse" for the world second-largest economy, concerns about its future have taken center stage. While some argue that China is at crossroads, others believe that existing and forthcoming policies will pave the way for sustained economic growth. What lies ahead for China's economic future? Is it poised to ascend into the ranks of high-income nations, or could it be stuck in the so-called "middle-income" trap? In this episode, we cut through the noise and explore the real picture of China's economy. Host Zhao Ying is joined by Chen Jiahe, chief investment officer at Novem Arcae Technologies; John Ross, Senior fellow with Chongyang Institute of Financial Studies, Renmin University; and Einar Tangen, Senior Fellow at Taihe Institute.

Sign up for Economist Podcasts+ now and get 50% off your subscription with our limited time offer*China is celebrating the 10th anniversary of the Belt and Road Initiative (BRI). The global infrastructure project is a keystone of Xi Jinping's foreign policy and he has lauded the huge economic benefits the scheme has brought to the world. But enthusiasm for the BRI is fading at home.David Rennie, The Economist's Beijing bureau chief, and Alice Su, our senior China correspondent, host the second episode of a two-part look at China's BRI and how it's changing. They speak to Wang Yiwei, director of the Institute of International Affairs at Renmin University. Runtime: 31 min*If you're already a subscriber to The Economist, you'll have full access to all our shows as part of your subscription. For more information about Economist Podcasts+, including how to get access, please visit our FAQs page. Hosted on Acast. See acast.com/privacy for more information.

At the conclusion of the China International Fair for Trade in Services in Beijing, Gary Kashitiku at the embassy of Zimbabwe in Beijing and Professor Liu Zhiqin at the Chongyang Institute For Financial Studies with Renmin University of China discuss opportunities it offers and China's role in service trade with Africa.

https://westminster-institute.org/events/did-lockdowns-work-the-verdict-on-covid-restrictions/ Steve H. Hanke is a Senior Fellow, Contributing Editor of The Independent Review, and a Member of the Board of Advisors at the Independent Institute. Hanke is professor of applied economics and founder and co-director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at the Johns Hopkins University in Baltimore, senior adviser at the Renmin University of China's International Monetary Research Institute in Beijing, and a special counselor to the Center for Financial Stability in New York. Hanke is also a contributing editor at Central Banking in London and a contributor at National Review. In addition, Hanke is a member of the Charter Council of the Society for Economic Measurement. In the past, Hanke taught economics at the Colorado School of Mines and at the University of California, Berkeley. He served as a member of the Governor's Council of Economic Advisers in Maryland in 1976–77, as a senior economist on President Reagan's Council of Economic Advisers in 1981–82, and as a senior adviser to the Joint Economic Committee of the U.S. Congress in 1984–88. Hanke served as a state counselor to both the Republic of Lithuania in 1994–96 and the Republic of Montenegro in 1999–2003. He was also an adviser to the presidents of Bulgaria in 1997–2002, Venezuela in 1995–96, and Indonesia in 1998. He played an important role in establishing new currency regimes in Argentina, Estonia, Bulgaria, Bosnia‐Herzegovina, Ecuador, Lithuania, and Montenegro. Hanke has also held senior appointments in the governments of many other countries, including Albania, Kazakhstan, the United Arab Emirates, and Yugoslavia. Hanke has been awarded honorary doctorate degrees by the Universidad San Francisco de Quito (2003), the Free University of Tbilisi (2010), Istanbul Kültür University (2012), the Bulgarian Academy of Sciences (2013), Varna Free University (2015), the Universität Liechtenstein (2017), and the D.A. Tsenov Academy of Economics (2018) in recognition of his scholarship on exchange‐rate regimes. He is a distinguished associate of the International Atlantic Economic Society, a distinguished professor at the Universitas Pelita Harapan in Jakarta, Indonesia, a professor asociado (the highest honor awarded to international experts of acknowledged competence) at the Universidad del Azuay in Cuenca, Ecuador, a profesor visitante at the Universidad Peruana de Ciencias Aplicadas (the UPC's highest academic honor), and the Gottfried von Haberler Professor at the European Center of Austrian Economics Foundation in Liechtenstein. In 1998, he was named one of the 25 most influential people in the world by World Trade Magazine. In 2020, Hanke was named a Knight of the Order of the Flag by Albanian President Ilir Meta. Hanke is a well‐known currency and commodity trader. Currently, he serves as chairman of the Supervisory Board of Advanced Metallurgical Group N.V. in Amsterdam and chairman emeritus of the Friedberg Mercantile Group Inc. in Toronto. During the 1990s, he served as president of Toronto Trust Argentina in Buenos Aires, the world's best‐performing emerging market mutual fund in 1995. Hanke received his B.S. in Business Administration (1964) and his Ph.D. in Economics (1969), both from the University of Colorado Boulder.

Learn about China's economic model with Beijing-based scholar Roland Boer, a professor at Renmin University and author of the book "Socialism with Chinese Characteristics: A Guide for Foreigners". VIDEO: https://youtube.com/watch?v=mgcyqkEOhQc

Tom welcomes back Steve Hanke Professor of Applied Economics - Johns Hopkins University. Steve discusses Austrian economist Felix Somary and explains how he was one of the few who understood exchange rates and had a full view of economic reality. This understanding is lacking today by most in power positions. Modern economic theory is very narrowly defined, and most lack that broad level of knowledge. The Fed has some 700+ economists working for them, but they all have similar understanding. We see these failings appear with the recent bank failures. It's obvious the banking system has large-scale problems. We're bordering on incompetence by those who are supposed to oversee these banks. They've doubled down on ignoring the money supply, arguing it has nothing to do with economic activity. Most of what you read in the financial press is either irrelevant or plain wrong. They are just restating Fed opinion. The Fed let the money supply increase at an unprecedented rate, and then we're surprised by the inflation. Now they are talking about tightening while increasing Federal fund rates. The money supply has shrunk by 2.3% which is causing pressure on banks. They have shrunk it by too much. We're still in quantitative tightening and the bank bailouts does not impact it. He explains his gold sentiment score service and how it can be useful for trades. A computer is examining articles hourly related to gold and the markets to determine current sentiment. It's a form of text analysis that can be used as a buy/sell signal. Time Stamp References:0:00 - Introduction0:44 - Economic Ignorance4:36 - Federal Reserve System9:43 - Recession & Whiplash14:10 - Bank Crisis & Easing?18:19 - Money Supply & GDP Growth21:19 - Hyperinflation & Countries22:55 - Game-Changing Moments?29:10 - Gold Sentiment Score35:40 - Primary Data Sources40:18 - Wrap Up Talking Points From This Episode Economic theory and the problems with the narrow focus of modern economists.Why most of the financial press is either wrong or irrelevant.The impact of money supply changes on the economy. Guest Links:Twitter: https://twitter.com/steve_hankeWebsite: https://thegoldsentimentreport.comWebsite: https://www.cato.org/people/hanke.htmlWebsite: https://sites.krieger.jhu.edu/iae/about/co-directors/Email: hanke@jhu.edu Steve H. Hanke is a Professor of Applied Economics and Founder & Co-Director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at The Johns Hopkins University in Baltimore. He is a Senior Fellow and Director of the Troubled Currencies Project at the Cato Institute in Washington, D.C., a Senior Advisor at the Renmin University of China's International Monetary Research Institute in Beijing, a Special Counselor to the Center for Financial Stability in New York, a contributing editor at Central Banking in London, and a regular contributor to the Wall Street Journal's Opinion pages. Prof. Hanke is also a member of the Charter Council of the Society of Economic Measurement and of Euromoney Country Risk's Experts Panel. In the past, Prof. Hanke taught economics at the Colorado School of Mines and at the University of California, Berkeley. He served as a Member of the Governor's Council of Economic Advisors in Maryland in 1976-77, as a Senior Economist on President Reagan's Council of Economic Advisors in 1981-82, and as a Senior Advisor to the Joint Economic Committee of the U.S. Congress in 1984-88. Prof. Hanke served as a State Counselor to both the Republic of Lithuania in 1994-96 and the Republic of Montenegro in 1999-2003. He was also an Advisor to the Presidents of Bulgaria in 1997- 2002, Venezuela in 1995-96, and Indonesia in 1998. He played an important role in establishing new currency regimes in Argentina, Estonia, Bulgaria, Bosnia-Herzegovina, Ecuador, Lithuania, and Montenegro. Prof. Hanke has also held senior appointments in the governments of many other countries,

It's been a year since Xi Jinping and Vladimir Putin announced the “no-limits” friendship between China and Russia. What drives the relationship and which side benefits from it more?In the first episode of a two-part series, The Economist's Beijing bureau chief, David Rennie, and senior China correspondent, Alice Su, assess how the relationship between Mr Xi and Mr Putin has evolved over the past year and ask whether the friendship has any boundaries.They also speak to Wang Yiwei, director of the Institute of International Affairs at Renmin University, about how China sees Russia's invasion of Ukraine and whether that view has changed over the course of this year.Sign up to our weekly newsletter here and for full access to print, digital and audio editions, as well as exclusive live events, subscribe to The Economist at economist.com/drumoffer. Hosted on Acast. See acast.com/privacy for more information.

Vijay Prashad talks about what just happened in Peru to Pedro Castillo as well as the state of the war in Ukraine and the New Cold War. Also, can the Left disagree without being disagreeable? Then we're joined by Camila Escalante to give us for her latest roundup of events in Latin America. Vijay Prashad (https://twitter.com/vijayprashad) is an Indian historian, editor and journalist. He is a writing fellow and chief correspondent at Globetrotter (https://independentmediainstitute.org...). He is the chief editor of LeftWord Books (https://mayday.leftword.com/) and the director of Tricontinental: Institute for Social Research (https://t.co/evQYuwZXRJ). He is a senior non-resident fellow at Chongyang Institute for Financial Studies, Renmin University of China (http://en.rdcy.org/). He has written more than 20 books, including The Darker Nations and The Poorer Nations. His latest book is Washington Bullets, with an introduction by Evo Morales Ayma. Camila Escalante is the co-founder and editor of Kawsachun News. She co-hosts the English-language weekly podcast on Kawsachun News entitled ‘Latin America Review' and is the Latin America correspondent for PressTV. ***Please support The Katie Halper Show *** For the entire discussion, bonus content, exclusive interviews, to support independent media and to help make this program possible, please join us on Patreon at - https://www.patreon.com/thekatiehalpershow Direct link to the Patreon portion of the discussion with Vijay Prashad - https://www.patreon.com/posts/vijay-prashad-76306160 Follow Katie on Twitter: https://twitter.com/kthalps

In this episode we are honored to host a conversation with Noam Chomsky and Vijay Prashad, to discuss their brand new book The Withdrawal: Iraq, Libya, Afghanistan, and the Fragility of U.S. Power.  Noam Chomsky is an American linguist, philosopher, cognitive scientist, historical essayist, social critic and political activist. While we couldn't find a complete bibliography, from what we could gather, it seems that at this point he has written over 100 books, on a wide range of topics.  Vijay Prashad is an executive director of Tricontinental: institute of Social Research, the Chief Editor of LeftWord Books, and a senior non-resident fellow at Chonyang Institute for Financial Studies, Renmin University of China. He is also the author of over 20 books and a member of the Communist Party of India (Marxist). In this conversation we talk about the recent U.S. withdrawal from Afghanistan, the so-called “China threat,” The Godfather attitude of U.S. imperialism, the war in Ukraine, sanctions, and international law. We also question whether we should look at the U.S. as a declining power or just an empire in transition. As you will see we were not able to get through all of our questions in this conversation, but Noam and Vijay were kind enough to record a part 2 with us as well, which we will release in the coming days. This part of the conversation was recorded on August 30th. We want to thank all of our patrons for making our show possible. It's a new month and we have a new goal to add 25 patrons again this month. You can become a patron of the show for as little as $1 a month. All of the support for our show comes from listeners like you as we have no grant funding and we don't sell any ads. You can become a patron by signing up at patreon.com/millennialsarekillingcapitalism And be on the look out for part 2 of this conversation in the coming days.

For the entire discussion, to receive bonus content, support independent media & to help make this program possible, please join us on Patreon at: https://www.patreon.com/thekatiehalpershow Direct link to this episode's Patreon segment: https://www.patreon.com/posts/vijay-prashad-on-65119033 Vijay Prashad discusses the latest fallout from the war in Ukraine and how it's impacting the rest of the world and his essay on Pan-Asianism. Plus the removal of Pakistan's Imran Khan: is it the will of the Pakistani people or Western-backed regime change, as Khan is claiming? Read Vijay's latest piece here (https://www.newsclick.in/is-asia-possible) Vijay Prashad (https://twitter.com/vijayprashad) is an Indian historian, editor and journalist. He is a writing fellow and chief correspondent at Globetrotter (https://independentmediainstitute.org...). He is the chief editor of LeftWord Books (https://mayday.leftword.com/) and the director of Tricontinental: Institute for Social Research (https://t.co/evQYuwZXRJ). He is a senior non-resident fellow at Chongyang Institute for Financial Studies, Renmin University of China (http://en.rdcy.org/). He has written more than 20 books, including The Darker Nations and The Poorer Nations. His latest book is Washington Bullets, with an introduction by Evo Morales Ayma.