Member Views

China must shield the rest of its economy from the property contagion

The Bretton Woods Committee is proud to Member Spotlight a recent opinion article authored by BWC Vice-Chair William Rhodes and Group of 30 Executive Director Stuart Mackintosh. The article emphasizes the imperative for China to safeguard the broader economy from the property contagion. Their suggestions include advocating for short-term resilience and endorsing Beijing's consideration of allowing developers to face consequences.

China must calibrate overseas lending towards Paris climate goals

With the demise of US leadership on climate change, China enters this week’s Conference of the Parties to the Paris climate agreement poised to take the mantle as the world’s leader on energy and climate change.

China Has a Unique Opportunity to Take the Lead on Emerging Market Indebtedness

The current state of the global economy and the outlook for the next few years do not bode well for Emerging Market and Developing Economies (EMDEs). Many countries were overly indebted before the pandemic and additional borrowing, one of the few options available to them, will push many into the terrain of unsustainable debt. China’s joining the Debt Service Suspension Initiative of the G-20 is commendable; however, this action only deals with official debt held by poorer EMDEs.

China Doing Less than it Should on Debt Reconstructuring

Bill Rhodes, former Chairman of Citibank and President and CEO of William Rhodes Global Advisors, shares his perspective on the G20, China's economy, and how Biden can restore U.S. leadership.

China Borrows a Lot of Money from the World Bank, and That’s Okay

As the World Bank makes a case to its shareholders for a capital increase this year, they are grappling with an uncomfortable truth: one of their biggest borrowers, China, happens to hold the world’s largest foreign exchange reserves...

China and India Are at Odds Over BRICS Expansion

BWC member Hung Tran writes that BRICS "has revealed its internal divisions" as the rivalry between China and the US has grown.

"India has tried to resist China’s efforts to turn the... group into a support organization for China’s geopolitical agenda".

Chief Economist's Note: COVID-19 Could Herald a New Era of European Divergence

A resurgence in COVID-19 infections has led to additional measures being announced across Europe in the past two weeks to contain the pandemic.

CFA Institute

This week we also welcome new member CFA Institute.

They provide and aim to promote standards in finance education and ethics in the investment services industry.

We appreciate their support for our work and mission, and we look forward to their engagement.

Central Banks Cancelling Government Debt Is No Panacea

Recently, more than a hundred European economists, including such luminaries as Thomas Piketty, called for the European Central Bank to write off a chunk of government debt that it holds.

Central Bankers Must Keep Financial Stability in Mind as They Fight Inflation

BWC member Hung Tran: "central banks should be more transparent in explaining how they take into consideration the impacts of excessive risk taking as well as banking and financial crises when formulating monetary policies—both during the easing and tightening phases."