Posts by John Ross

​During 2017 China has been tightening its capital controls to prevent any export of capital from the country not required for legitimate business expansion – that is China has been strongly acting against ‘capital flight’. This policy has been successful, with China’s foreign exchange reserves, already the world’s largest, rising for six months in a row – see…

​IntroductionThe media outside China periodically carries predictions of a China ‘hard landing’. For example George Soros grabbed headlines earlier this year by declaring of China: ‘A hard landing is practically unavoidable.’ Soros himself has an inaccurate record of investing in Communist Party led, and ex-Communist, countries such as Russia and China – having lost approximately…

Introduction ​The international importance of China’s economy is twofold. The first is practical – the scale of China’s economic growth, its global impact, and the consequences for the improvement of the social conditions of China and the world’s population. The second is theoretical, including the potential international applicability of conclusions drawn from China’s economic policies.…

Economics textbooks, particularly when discussing Keynes, frequently contain an elementary economic confusion – it should be made explicit this is a confusion in the textbooks and is not stated by Keynes. A typical example may be taken as Mankiw’s Principles of Economics, but numerous other examples could be cited as the confusion is widespread.1 This…

Inaccurate articles sometimes appear claiming China faces a “severe debt crisis.” Factually these are easily refuted. Changyong Rhee, the IMF’s Asia and Pacific Department director, pointed out that China’s national and local government debt is only 53% of its GDP, compared to U.S. government debt which is roughly as big as GDP, or in Japan…