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Stephen S Roach, a faculty member at Yale University and former chairman of Morgan Stanley Asia, is the author of ‘Unbalanced: The Codependency of America and China’. When it comes to the Chinese economy, I have been a congenital optimist for over 25 years. But now I have serious doubts. The Chinese government has taken dead aim at its dynamic technology sector, the engine of China’s New Economy. Its recent actions are symptomatic of a deeper problem: the state’s efforts to control the energy of animal spirits. The Chinese Dream, President Xi Jinping’s aspirational vision of a “gr...

The ghost of Arthur Burns May 25,2021 - Last updated at May 25,2021 NEW HAVEN — Memories can be tricky. I have long been haunted by the inflation of the 1970s. Fifty years ago, when I had just started my career as a professional economist at the Federal Reserve (Fed), I was witness to the birth of the Great Inflation as a Fed insider. That left me with the recurring nightmares of a financial post-traumatic stress disorder. The bad dreams are back. They centre on the Fed’s legendary chairman at the time, Arthur F. Burns, who brought a unique perspective to the US central bank as an expert ...

NEW HAVEN  —  As the second vaccine shot went into my arm, I could almost taste the instant gratification of deferred desires. Having done without for nearly a year, it was time to indulge.

Notwithstanding the predictable release of pent-up demand for consumer durables, face-to-face services show clear evidence of lasting scarring. Consequently, with the snapback for durables likely to be finished soon, even rapid vaccination is unlikely to shorten the tough time that lies ahead for the post-pandemic US economy.

Share this article Share this article BEIJING, Jan. 28, 2021 /PRNewswire/ -- Officials and experts have urged China and the United States to reshape their damaged relationship and called on the new US administration to employ positive policies to refresh ties with Beijing to benefit both nations and the world. Addressing the virtual Vision China event organized by China Daily on Thursday, Vice-Foreign Minister Le Yucheng expressed hope that the new year will bring a new start to China-US relations. Le Yucheng, China's Vice-minister of Foreign Affairs. Photo by Feng Yongbin/China Daily Le sai...