Yale Bulletin and Calendar

October 24, 2003|Volume 32, Number 8

Yale scholars to explore challenges
facing China's economy

"Challenges Facing China's Economy: Currency, Banking and Trade" is the title of a panel discussion that will take place on Wednesday, Oct. 29.

The event, which is free and open to the public, will be held 4-6 p.m. in the auditorium of Luce Hall, 34 Hillhouse Ave. It is sponsored by the Yale College Chinese Partnership Program (CPP), an undergraduate organization established to inform the Yale community about China, the Chinese language and culture, and about the nation's current society.

The panelists are Paul Bracken, professor of management and political science and former senior staff member of the Hudson Institute; Zhiwu Chen, professor of finance and associate editor of the Pacific-Basin Finance Journal; Jamie Horsley, associate director of The China Law Center and former commercial attaché and first secretary of the U.S. Embassy in Beijing; and Pierre Landry, assistant professor of political science and an affiliate of the Research Center for Contemporary China.

"China's economy has experienced unprecedented growth since its transition from a sluggish, Soviet-style, centrally planned economy to a more market-oriented system began in 1978," says Alexander Millman '06, president of the CPP. "With a Gross Domestic Product growing 8-9% every year, China's economy has become one of the most important driving forces in the world economy. In 2002, China -- with its 1.3 billion people -- stood as the second largest economy in the world after the United States (measured on a purchasing power parity basis). Nevertheless, there have been recent calls that China's continued economic growth is unsustainable and that the economy is overheating."

Millman says the panel discussion will explore such questions as: "Does China have to revalue its currency to be a responsible economy in the world? What do China's poor bank loans mean for the future of the economy? Could the U.S.-China trade imbalance turn into a larger dispute over fair trade practices? and How can the central government salvage the bankrupt state-owned enterprises?"

For further information, contact Millman at alexander.millman@yale.edu.

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