Blog Posts tagged with : Financial crisis
Equilibrium and disequilibrium
Posted by on Sep 21, 2012Since the global financial crisis of 2008, many economists have criticised the inadequacy of mainstream economic theories, pointing out that their notions of equilibrium, rationality, and efficient markets are too simplistic.Is this criticism justified? [more] Yes. One of the key problems with these theories is that they do not take account of the marke...
It's the economy, stupid: In search of a new development model
Posted by on Feb 02, 2012Now that another massive global gathering has convened and decamped – last month Durban, this month Davos – that sinking feeling has already returned to taunt those of us looking, albeit from afar, for some real solutions. In Durban, with all the evidence on climate change, leaders could only agree to think about an agreement on carbon emissions ta...
Internationalising the RMB: maintaining stable trade finance in a volatile environment
Posted by on Jan 26, 2012As developed economies struggle, many see China as a relative bright spot. There is a tendency, however, to underestimate the challenges China faces in the coming years, particularly the risks posed by its heavy reliance on exports and the continued growth of global trade.While China might be able to shield itself from the worst effects of financial crises e...
Internationalising the RMB: the importance of reaching market equilibrium
Posted by on Jan 03, 2012In its recently-published 2011 annual report, the Chinese Academy of Social Sciences (CASS) urges Beijing to use the global financial crisis as a chance for China to internationalise the RMB. Exactly how and when the RMB should go global was also a hot topic at a recent conference in Hong Kong, organised by the US-based Committee of 100, where I represented ...
EU seeks Chinese Eurozone bailout – oh the ironies and anomalies!
Posted by on Oct 03, 2011In several decades from now historians will greatly enjoy the amazing anomalies that the early 21st century is producing. A hundred years ago virtually to the day China’s revolutionary leader Sun Yat-sen described China as a “poly-colony”. Though not in the strict sense of the term colonised by any single Western power, Sun’s contention was that West...
