Global Times carried an article co-written by Prof Wang Pengfei, IEMS Faculty Associate and Department of Economics, on Sino-US trade imbalance. Prof Wang said that the US trade deficit is the result of the financial liberalization of China and the country’s underdeveloped banking-credit-financial system.
The article was compiled based on a report written by Pengfei Wang, Professor of Economics at the Hong Kong University of Science and Technology, Yi Wen, Assistant Vice President, Federal Reserve Bank of St. Louis and Zhiwei Xu, Associate Professor of Finance at Shanghai Jiao Tong University
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