The State of the Chinese Economy: Implications for China and the World
A two-day conference presented by the USC US-China Institute
Friday, February 25, 2011
Millennium Biltmore Hotel
Address: Bowl Room 506 South Grand Avenue, Los Angeles, CA 90071-2607
Cost: $35 general public; $10 students with valid ID
The USC U.S.-China Institute is hosting a major international conference examining the structure of the Chinese economy, its current health, and its likely future. We invite you to join us at the Millennium Biltmore Hotel on February 25-26, 2011 for this penetrating look at America's number one overseas trade partner and the largest foreign holder of American public debt. The conference features a keynote address by Hu Shuli, China's most distinguished financial journalist, and presentations by influential American and Chinese analysts. Reserve your place at the conference now. Space is limited. Even the most casual news consumer knows China's economy is large and growing fast. Growing at about 10% in 2010, China's gross domestic product is now over US$5 trillion, second only to that of the United States. China now has an estimated $2.6 trillion in foreign exchange reserves. Headlines, though, are also dominated by other economic news from China. Prices, especially food prices, have been spiking up leading to some hoarding and panic-buying. Labor unrest has prompted governments to mandate minimum wage hikes. Meanwhile most university graduates are finding it difficult to get jobs. Property prices in China's largest cities have risen so fast and high that they've become the subject of soap operas, sparked much discontent, and caused bankers and others to worry about the impact of a possible market meltdown. Income and wealth inequality have grown dramatically since the 1980s. Paying for health care reform and providing for an aging population are also keeping economic planners up at night as they also strive to make China a leader in emerging industries such electric cars and renewable energy. Economics also looms large in China's foreign affairs. The preeminence of the US dollar as a reserve currency, exchange rates, export controls, market access, and protection of intellectual property are just a few of the issues dominating summit meetings and state visits. Securing supplies of essential resources as well as winning valuable construction contracts has Chinese leaders and businesspeople forging alliances in worldwide. China is the world's top destination for foreign direct investment, but Chinese businesses have also been making big investments abroad. The Broad View Chair: TBA Discussants: Chair: TBA Discussants: Chair: Stanley Rosen, University of Southern California Introduction by Elizabeth Garrett, USC Provost and Senior Vice President for Academic Affairs
Major conference topics include:
Friday, February 25
8:30 -8:40 am
8:45 – 10:30 am
Barry Naughton, University of California, San Diego
"Macroeconomic Imbalances and a Revised Growth Strategy"
Carsten Holz, Hong Kong University of Science and Technology/USC
"China's Economic Growth 1978-2025: What We Know Today about China's Economic Growth Tomorrow"
Ho-feng Hung, Indiana University
"Structural Dilemmas in the US-China Currency Conflict."
K.C. Fung, University of California, Santa Cruz
10:45 – 12:15 pm
Victor Shih, Northwestern University
"Awash in Debt: State Liabilities and Monetary and Welfare Implications for China"
Deng Yongheng, National University of Singapore
"Monetary and Fiscal Stimuli, Ownership Structure and China's Housing Market"
Baizhu Chen, University of Southern California
Daniel Lynch, University of Southern California
Lunch (Provided for registered conference participants.)
1:45 – 3:15 pm
Haizheng Li, Georgia Institute of Technology
"Human Capital in China"
Scott Rozelle, Stanford University
"Education, Health and Nutrition and China's Human Capital Challenge in the 21st Century"
C. Cindy Fan, University of California, Los Angeles
3:45– 5:15 pm
Presentation by Hu Shuli, Editor in Chief, Caixin Media
The USC U.S.-China Institute is hosting a major international conference examining the structure of the Chinese economy, its current health, and its likely future. We invite you to join us at the Millennium Biltmore Hotel on February 25-26, 2011 for this penetrating look at America's number one overseas trade partner and the largest foreign holder of American public debt. The conference features a keynote address by Hu Shuli, China's most distinguished financial journalist, and presentations by influential American and Chinese analysts. Reserve your place at the conference now. Space is limited.
Even the most casual news consumer knows China's economy is large and growing fast. Growing at about 10% in 2010, China's gross domestic product is now over US$5 trillion, second only to that of the United States. China now has an estimated $2.6 trillion in foreign exchange reserves.
Headlines, though, are also dominated by other economic news from China. Prices, especially food prices, have been spiking up leading to some hoarding and panic-buying. Labor unrest has prompted governments to mandate minimum wage hikes. Meanwhile most university graduates are finding it difficult to get jobs. Property prices in China's largest cities have risen so fast and high that they've become the subject of soap operas, sparked much discontent, and caused bankers and others to worry about the impact of a possible market meltdown. Income and wealth inequality have grown dramatically since the 1980s. Paying for health care reform and providing for an aging population are also keeping economic planners up at night as they also strive to make China a leader in emerging industries such electric cars and renewable energy.
Economics also looms large in China's foreign affairs. The preeminence of the US dollar as a reserve currency, exchange rates, export controls, market access, and protection of intellectual property are just a few of the issues dominating summit meetings and state visits. Securing supplies of essential resources as well as winning valuable construction contracts has Chinese leaders and businesspeople forging alliances in worldwide. China is the world's top destination for foreign direct investment, but Chinese businesses have also been making big investments abroad.
The Broad View
Chair: Stanley Rosen, University of Southern California
Introduction by Elizabeth Garrett, USC Provost and Senior Vice President for Academic Affairs
Saturday, February 26
|8:30 – 10 a||
Chair: Eric Heikkila, University of Southern California
|10:15 – 11:45 am||
Chair: Merril Silverstein, University of Southern California
|Noon – 3:30 pm||
This USC/National Consortium for Teaching about Asia workshop will focus on how to bring issues addressed during the conference as well as other topics to life in the secondary school classroom. Attendees will receive lunch and curriculum materials. Attendance at the Saturday conference panels is required. Enrollment in this workshop is limited to educators teaching world history, government, and economics. Space is limited and advance registration is required. Click here to download an application.
Editor in Chief, Caixin Media Group
Founder of Caijing Magazine in 1998, Ms. Hu provided the leadership that brought Caijing to its eminent position as one of China’s most authoritative business publications. At the editorial helm for 11 years, Hu Shuli made her departure in 2009 to create the breakthrough new media group, Caixin Media Company Limited. Internationally recognized for her achievements in journalism, Hu was twice named by Foreign Policy as one of Top 100 Global Thinkers in 2009 and 2010. She received the 2007 Louis Lyons Award for Conscience and Integrity in Journalism from the Nieman Foundation at Harvard University. In 2006, Hu was called the most powerful commentator in China by Financial Times, and The Wall Street Journal cited her as one of the “Ten Women to Watch” in Asia. She was named International Editor of the Year by World Press Review in 2003 and one of BusinessWeek’s “Fifty Stars of Asia” in 2001.
Other confirmed speakers include:
Marshall School of Business, University of Southern California
Professor Chen’s research covers a wide range of monetary economics, international finance, and Chinese financial market reforms. He has published prolifically on the political economy of growth, private investment, foreign currency market, the Chinese financial market, and monetary policy. He is currently the Academic Director of Global EMBA (GEMBA) program in Shanghai. He is also a recipient of grants from the Washington Center for China Studies, the Chinese National Science Foundation, and Eurasian Studies of Taiwan for his research on China's central bank monetary policies and the Chinese financial market.
Institute of Real Estate Studies, National University of Singapore
Yongheng Deng is Director of Institute of Real Estate Studies, Professor of Finance and Real Estate at the National University of Singapore (NUS). He is a council member of the World Economic Forum’s Global Agenda Council on Urban and Real Estate Development. He has served as a member of Singapore Economic Strategy Committee sub Committee on Land, and is a member of the NUS Global Asia Institute Steering Committee. He holds a Ph.D. in Economics from the University of California at Berkeley.
C. Cindy FAN
Geography, University of California at Los Angeles
Professor Fan teaches geography and Asian American studies and is associate dean for social sciences. Her China research focuses on population trends, migration, and regional development, as well as gender and inequality. She’s the author of numerous articles and has served as the editor of Regional Studies and Eurasian Geography and Economics. Her books include China on the Move: Migration, the State, and the Household and New Themes and Forces of Regional Development in China.
Economics, University of California at Santa Cruz
Co-founder of the Santa Cruz Institute for International Economics, Professor Fung’s research focuses on international trade and finance, trade policies, multinational corporations, the World Trade Organization and Asia-Pacific economics. His work includes the correct measurement of the U.S.-China bilateral trade balance, estimation of the domestic value added and foreign content of Chinese exports as well as trade and investment relationships between China and other places. Fung served as a senior economist in the White House Council of Economic Advisors for Presidents George H.W. Bush and Bill Clinton.
Policy, Planning, and Development, University of Southern California
Professor Heikkila is an economist by training and currently has three main areas of research and has published extensively in each of these areas: urban and regional development, urban information systems, and East Asian cities and cultures. Heikkila has taught at USC since 1986. As co-Founder and Executive Secretary of the Pacific Rim Council on Urban Development, Professor Heikkila has been instrumental in developing and maintaining a strong international network of scholars and practitioners who are involved in urban development throughout the Pacific region.
Economics, Hong Kong University of Science and Technology/University of Southern California
Carsten Holz is Professor in the Social Science Division at the Hong Kong University of Science & Technology and currently visiting the Department of Economics at USC. His research focuses on issues of economic development in China. These include financial sector reform, the profitability of state-owned enterprises, and Chinese economic growth. Recent and ongoing research covers economic fragmentation within China, productivity growth, growth prospects, and growth strategies.
Sociology, Indiana University
Ho-fung Hung is the Associate Director of Research Center on Chinese Business and Politics and Assistant Professor of Sociology at Indiana University-Bloomington. He researches on Chinese political economy and state-society interaction in historical and global perspectives. Hung is the author of Protest with Chinese Characteristics (Columbia University Press, 2011; winner of President’s Book Award, Social Science History Association) and editor of China and the Transformation of Global Capitalism (Johns Hopkins University Press, 2009). His articles appeared in American Journal of Sociology, American Sociological Review, Review of International Political Economy, Dushu (China), Lingdaozhe (China), among others. His paper on China and the global crisis won the first prize of 2010 research paper award of the World Society Foundation in Zurich, Switzerland. His other papers won awards in four different sections of the American Sociological Association, including the sections on Comparative and Historical Sociology, Political Sociology, Political Economy of the World System, and Asia and Asian Americans. His works were featured or cited in New York Times, The Guardian (UK), Folha de S. Paulo (Brazil), Expresso (Portugal), Straits Times (Singapore), South China Morning Post (Hong Kong), Xinhua Monthly (China), and others.
Ching Kwan LEE
Sociology, University of California at Los Angeles
Professor Lee teaches sociology. Her current research focuses on the politics of rights and the changing citizenship regime in China. She’s also investigating Chinese investment and labor practices in Africa. Lee is the author or editor of five books and numerous articles. Two of her most recent books are Against the Law: Labor Protests in China’s Rustbelt and Sunbelt and Working in China: Ethnographies of Labor and Workplace Transformation.
School of Economics, Georgia Institute of Technology
Dr. Haizheng Li is Professor in the School of Economics, Georgia Institute of Technology, and Special-Term Director of the China Center for Human Capital and Labor Market Research (CHLR), in the Central University of Economics and Finance in Beijing, China. His major research fields are labor economics and Chinese economy, with a focus on human capital issues. He is a founder of the CHLR in China, an international center on human capital studies, and the Center has initiated the annual China Human Capital Report, which contains various series of human capital indexes for China. He served as President of the Chinese Economists Society in 2006-07.
School of Economics and Management, Tsinghua University
Hongbin Li is professor of economics at Tsinghua University, Beijing, China and the executive associate director of the China Data Center. He obtained his Ph.D. in economics from Stanford University in 2001. Before returning to Tsinghua, he was professor in the Chinese University of Hong Kong. He is a Research Fellow of IZA, a member of the editorial board of the Journal of Comparative Economics. He received the Changjiang Scholarship in the field of economics, and National Award for Distinguished Young Scientists in China in 2010. Professor Li’s research has been focused on China and is concerned with two general themes; a) the behaviors of governments, firms and banks in the context of economic transition; b) human capital in the context of economic development. Research results have been published in leading journals such as the Journal of Political Economy, American Economic Review Papers & Proceedings, Economic Journal, Review of Economics and Statistics, Journal of Labor Economics, Journal of Development Economics, Journal of Public Economics, and Journal of Comparative Economics and Demography.
International Relations, University of Southern California
Daniel C. LYNCH is Associate Professor of International Relations at the University of Southern California and is a member of USC’s US-China Institute Executive Committee. Lynch is the author of two books: Rising China and Asian Democratization: Socialization to “Global Culture” in the Political Transformations of Thailand, China, and Taiwan (Stanford University Press, 2006) [paperback edition: August 2008)], and After the Propaganda State: Media, Politics, and “Thought Work” in Reformed China (Stanford University Press, 1999). He has published scholarly articles in such journals as The China Quarterly, International Studies Quarterly, Pacific Affairs, and Asian Survey. Lynch’s current research focus is how Chinese elites are envisioning the future of China’s domestic politics, international relations, economy, environment, and culture. He will take a sabbatical leave during the 2011-2012 academic year to complete the book manuscript.
Graduate School of International Relations and Pacific Studies, University of California at San Diego
Barry Naughton is an economist and professor at the University of California, San Diego. Naughton has published extensively on the Chinese economy, with a focus on four interrelated areas: market transition; industry and technology; foreign trade; and Chinese political economy. His pioneering study of Chinese economic reform, Growing Out of the Plan: Chinese Economic Reform, 1978-1993 (Cambridge University Press, 1995) won the Masayoshi Ohira Memorial Prize. Naughton’s most recent book is The Chinese Economy: Transitions and Growth, a comprehensive survey of the Chinese economy published by MIT Press in 2007. Naughton publishes regular quarterly analyses of China’s economic policy-making online at China Leadership Monitor.
Economics, Oxford University
Professor Park's recent research focuses on poverty, human capital (health and education), labor markets, and globalization. In addition to being a professor of Economy of China at Oxford, he is also research fellow at both the Center for Economic Policy Research (CEPR) and the IZA Institute for the Study of Labor. He is currently co-directing the Gansu Survey of Children and Families (GSCF), a longitudinal study of rural youth in western China, and the China Health and Retirement Longitudinal Survey (CHARLS).
Political Science, University of Southern California
A political scientist, Professor Rosen directs USC’s East Asian Studies Center. The author or editor of eight books and many articles, he has written on such topics as the Cultural Revolution, the Chinese legal system, public opinion, youth, gender, human rights, and film and the media. He is the co-editor of Chinese Education and Society. His most recent books are Chinese Politics: State, Society and the Market and Art, Politics and Commerce in Chinese Cinema.
Freeman Spogli Institute for International Studies, Stanford University
Scott Rozelle holds the Helen Farnsworth Endowed Professorship at Stanford University and is Senior Fellow and Professor in the Food Security and Environment Program and the Shorenstein Asia-Pacific Research Center, Freeman Spogli Institute (FSI) for International Studies. Dr. Rozelle's research focuses almost exclusively on China and is concerned with three general themes; a) agricultural policy, including the supply, demand, and trade in agricultural projects, b) issue involving rural resources, especially the management of water, the forests and cultivated land; and c) the economics of poverty—with an emphasis on the economics of education and health. Rozelle is the co-director of the Rural Education Action Project (REAP).
History, University of Southern California
Brett Sheehan is associate professor of Chinese history at the University of Southern California. He received his Ph.D. from the University of California-Berkeley in 1997. He is the author of Trust in Troubled Times: Money, Banking and State-Society Relations in Republican Tianjin, 1916-1937, Harvard University Press, 2003, and numerous articles and book chapters. He is currently working on a book exploring the relationship between authoritarianism and capitalism in republican and early PRC period China.
Political Science, Northwestern University
Victor C. Shih is a political economist at Northwestern University specializing in China. An immigrant to the United States from Hong Kong, Dr. Shih received his doctorate in Government from Harvard University, where he researched banking sector reform in China with the support of the Jacob K. Javits Fellowship and the Fulbright Fellowship. He is the author of a book published by the Cambridge University Press entitled Factions and Finance in China: Elite Conflict and Inflation. It is the first book to inquire the linkages between elite politics and banking policies in China. He is further the author of numerous articles appearing in academic and business journals, including The China Quarterly, Comparative Political Studies, Journal of Politics, The Wall Street Journal and The China Business Review, and frequent adviser to the financial community on the banking industry in China. Dr. Shih holds a B.A. from the George Washington University, where he studied on a University Presidential Fellowship and graduated summa cum laude in East Asian studies with a minor in economics. His current research concerns Chinese banking policies, exchange rates, elite political dynamics and local government debt in China.
Gerontology and Sociology, University of Southern California
Professor Silverstein teaches gerontology and sociology. His research is concerned with understanding how individuals age within the context of family life, including such issues as social support across generations, later life migration, life-course patterns of intergenerational solidarity, and public policy toward caregiving families. He’s received National Institutes of Health support for his longitudinal study of aging and families in rural China. Some of Silverstein’s China work has been published in the Journal of Marriage and Family, Research in Human Development, Research on Aging, and in edited volumes.
Economics, University of Southern California
Professor Strauss is a recognized specialist in the fields of development economics, the economics of the household, the economics of human resource investments and labor market outcomes. Indonesian Living Standards Before and After the Financial Crisis, Strauss' most recent collaborative work, uses Indonesia Family Life Surveys (IFLS) to provide a true-to-life look at living conditions in Indonesia. He has also been a professor at Michigan State University, Yale University, and the University of Virginia, and he is a member of numerous professional organizations such as American Economic Association, International Union for the Scientific Study of Population, and American Association of Agricultural Economics. Strauss is the current Principal Investigator of IFLS and is Editor-in-Chief of the scientific journal, Economic Development and Cultural Change.
Economics, University of Southern California
Professor Tan’s research areas include business strategy and industrial organization, antitrust and competition policy, auction theory, microeconomic theory, and the Chinese economy. His current research projects involve competition in international telephone markets, platform competition, bargaining theory with applications, and the welfare standards in China’s Anti-Monopoly Law. As a consultant, Professor Tan has provided advice to a number of public and private sector clients with respect to competition and regulatory matters in several industries. He previously taught at the University of British Columbia and Hong Kong University of Science and Technology and was T.D. MacDonald Chair in Industrial Economics at the Canadian Competition Bureau. Professor Tan is currently a Chang Jiang Scholar in China, an associate editor of International Journal of Industrial Organization, referees for numerous journals, and a member of many academic organizations and committees.
International Food Policy Research Institute
Xiaobo Zhang received his Ph.D. from Cornell University. He is a senior research fellow at the Development Strategy and Governance Division of the International Food Policy Research Institute (IFPRI) and leads IFPRI’s rural-urban linkage program. He is a Co-editor of Chinese Economic Review, the leading English journal on the Chinese economy. He was selected as the president of Chinese Economists Society from 2005 to 2006.
Additional speakers will be announced soon.
Click here to download the conference flyer.
There is a $35 registration fee to attend this conference, payable by credit card. Students can attend for a discounted fee of $10 (copy of university identification card must be provided with registration form). This fee includes breakfast, lunch, refreshments, and conference materials during both days. To register, download and complete the registration form and provide payment information. Registration fee waived for USC faculty. The deadline to register is February 20, 2011.
About the Millennium Biltmore Hotel Los Angeles
- Self Parking at Pershing Square (across the street) = $9.35 w/ validation
- Valet Parking in the Hotel = $18.00 w/ validation
To find out more about the Millennium Biltmore Hotel and surrounding attractions, visit: http://www.millenniumhotels.com/Millenniumlosangeles/attractions/index.html
Chairman, Chongqing Haitian Company
Former chief operation officer, Starbucks
Founder, Starbucks China