Analysis

Economic theory

Why the economic reform succeeded in China & will fail in Russia and Eastern Europe

This article was written in April 1992 and originally published in Russian in September 1992 in Voprosy Economiki (Questions of Economics) in September 1992. The ...
Read More

Why do Western economies have hard landings but China doesn’t?

‚ÄčIntroductionThe media outside China periodically carries predictions of a China ‚Äėhard landing‚Äô. For example George Soros grabbed headlines earlier this year by declaring of China: ...
Read More

China lacks innovation? Take another look

‚ÄčUntil recently, the big myth about China's companies was their lack of innovation. That view is now being reassessed in a series of Western studies ...
Read More

A damaging confusion in Western economics books

Economics textbooks, particularly when discussing Keynes, frequently contain an elementary economic confusion - it should be made explicit this is a confusion in the textbooks ...
Read More

Why China won’t suffer a Western type financial crisis

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, ...
Read More

Deng Xiaoping & John Maynard Keynes

Introduction‚ÄčThe international importance of China‚Äôs economy is twofold. The first is practical - the scale of China‚Äôs economic growth, its global impact, and the consequences ...
Read More

Europe’s crisis & the Euro – predicted in advance

IntroductionThe following article, published in September 1996, that is prior to the creation of the Euro, accurately predicted in advance from fundamental economic theory the ...
Read More

The most important book on economic growth to have appeared for many years

Vu Minh Khuong's The Dynamics of Economic Growth is the most important book on world economic growth to have appeared for many years. It is for that reason (full ...
Read More