Rebalancing Act: China’s Fiscal Reform Challenge
This policy brief examines China’s inter-connected economic challenges of structural and fiscal reform, arguing that promotion of domestic consumption away from fixed-asset investment could further exacerbate the fiscal mismatch between the central and local levels of government—with increasing local government indebtedness and potential for social unrest if not appropriately addressed.
Risk Reduction and Crisis Management on the Korean Peninsula
The situation on the Korean Peninsula is inherently intertwined with the growing instability of the East Asian security environment, where high tensions significantly increase the risk of unintended incidents and armed […]
The Dawn of the Digital Yuan: China’s Central Bank Digital Currency and Its Implications
Summary The COVID-19 pandemic has driven digital innovation and proved to be an enabling episode for the technology industry; the growing focus on central bank digital currencies (CBDCs) comes within such a context. China has rushed to […]