Content from the Brookings-Tsinghua Public Policy Center is now archived. Since October 1, 2020, Brookings has maintained a limited partnership with Tsinghua University School of Public Policy and Management that is intended to facilitate jointly organized dialogues, meetings, and/or events.
In this panel discussion, Geng Xiao argues that China’s inflation must be viewed not just as a current monetary issue, but rather as a part of the country’s long-term economic development.
China’s current levels of inflation are healthy and should in time be matched by appreciation against foreign currencies. To ensure this transition, China needs to minimize its financial risks by developing Shanghai into a world-class financial center and not rely exclusively on Hong Kong.