CCTV News: Inflation and S&ED
This morning I was on CCTV News BizAsia. You can watch the two short interview clips by following the links. In the first segment, I gave my take on China’s economic figures for April, which were released today. The Consumer Price Index (CPI) rose 5.3% year-on-year (compared to 5.4% in March), suggesting that inflation remains a real concern, despite China’s efforts to tackle the problem using price controls. I also noted that the essentially balanced trade that China ran in the first quarter gave its central bank some breathing space in trying to rein in the growth of the money supply. But the trade figures released yesterday, which showed China running a surprisingly large $11.4 billion trade surplus in April — will put more pressure on the PBOC to continue tightening, or allow the RMB to rise in value.
In the second interview segment, I discussed the main takeaways from the latest round of the Strategic and Economic Dialogue (S&ED) between China and the U.S., which took place this week in Washington, DC. For those interested in a longer (half hour) discussion on this topic, you can also watch my appearance on last night’s episode of Dialogue [when the program is posted online, hopefully in the next 24 hours, I will post the link here]. My fellow guests on the program were Professor Xiao Geng, director of the Columbia Global Center in Beijing, and Professor Zhang Chuanjie, deputy director of the Tsinghua Center for US-China Relations.
You can also read some of the comments I offered yesterday on the S&ED in a live interview on Al-Jazeera, along with some thoughts I offered AFP on the relationship between China’s currency policy and inflation.