Saturday February 11, 2012

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Event Summary

As the global financial crisis continues to impact economic growth predictions for countries around the globe, there is considerable debate about how the crisis will impact China’s growth trajectory and how Chinese policymakers will adapt to ensure a sustained trajectory.  In early January 2009, leading policymakers from the U.S. and China gathered in Beijing to discuss the economic prospects for China in the years ahead, and to examine how growth challenges and opportunities will affect energy and climate change policies, trade, and Sino-U.S. relations.

Event Information

When

Saturday, January 10, 2009
8:30 AM to 5:30 PM

Where


School of Public Policy and Management (SPPM), Tsinghua University

Beijing, China
Map

Contact: Brookings Office of Communications

Email: events@brookings.edu

Phone: 202.797.6105

Wing Thye Woo and Xiao Geng, Brookings’s experts on China’s economy, discussed relevant issues, including how China might maintain its growth rate and how to overcome problems in the U.S.-Sino relationship. Additional speakers include leading Chinese experts, Jeff Sachs of Columbia University and Don Hanna of Citigroup. 

View the agenda »

Transcript

WING THYE WOO: I think that whenever I talk about these sets of measures, I very commonly hear the following response from the audience. The rise of a big country in the twentieth century has always caused conflict – you look at the rise of Germany, the rise of Japan, and the rise of the Soviet Union. So the rise of China and the rise of trade conflict is but a part of that process. I disagree with that, largely because although it is true that the rise of Germany, Japan, and the Soviet Union countries did cause conflict, but the most important country to rise and prevail in the twentieth century were not these three countries, but the United States. And overall the rise of the United States was a stabilizing force. So with that historical experience, we could say that with international cooperation, the rise of China could be an equally stabilizing force. Therefore, first to be exemplified by a global fiscal stimulus across countries with China leading the way. And this would not only help us out of the current recession but reduce the trade tensions that are present.


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