U.S.-China Economic Relations in the Next Decade: Part1 Panel

From a medium and long-term point of view, a race between reform and crisis will be inevitable, says Zhang Monan. China must perfect its central and local financial systems, and create a framework for the control of financial debt risks at the earliest date possible.

The recent publication of Visa’s International Financial Literacy Barometer has sparked interest in the United States’ mature financial sector and China’s still-developing financial markets. Noting the low ranking of China and Hong Kong, Michael Justin Lee explains that being financially literate will not only help Asia’s young finance sector boon, but will also improve the world’s future economic outlook.

China’s declining GDP has sent shockwaves through the financial sector as analysts begin to question China’s long-term economic strategy. As Minxin Pei points out, “zombie firms,” or companies primarily supported through bank loans and government subsidies, are complicating China’s sustained growth. By eliminating these firms and instituting reforms, China can bolster innovation and ensure the opening of its economic markets.

Although China’s slowing growth has caused a stir amongst analysts; He Weiwen explains China’s growth rate is not of concern.

 At 7.7%, China’s annual GDP growth in the first quarter of this year was slower than many expected. While the data were hardly devastating relative to a cons

In the wake of the global economic crisis, and the dissatisfaction with democracy in many developing nations, leaders in Asia, Africa, and Latin America are studying the Chinese model far more closely.

Loan growth in China’s shadow-banking system has surged in recent months, but Andrew Sheng and Xiao Geng warn that without proper financial reforms this unregulated system could put the nation’s sustained growth at risk, threatening economic stability.

The Boao Forum for Asia in China serves to promote regional economic ties between China and its neighbors. Following this year’s conference, attendees hope the spirit of the Boao Forum will lead to greater cooperation amongst Asian nations.

Zhang Monan writes that the global economic system is shifting, and China must seize the strategic opportunities with a new line of thought by working hard to avoid any weakening of its development, seizing new opportunities and creating new advantages.