Arthur R. Kroeber is Managing Director of GaveKal Dragonomics, an independent global economic research firm, and editor of its journal, China Economic Quarterly. He is a non-resident senior fellow of the Brookings-Tsinghua Center, where his research focuses on China’s engagement with global economic institutions.
Before joining GaveKal Dragonomics, Mr Kroeber worked for fifteen years as a financial journalist and economic analyst in China, Taiwan, and India. He has written for Foreign Policy, The Economist, The Far Eastern Economic Review, Fortune, and Wired and is a contributor to the opinion pages of the Financial Times, Wall Street Journal, andWashington Post.
China’s economic policymakers have had a rough time recently. Against a backdrop of slowing domestic economic growth, China’s stockmarket is currently undergoing a mini-crisis. Regulator attempts to intervene appear ham-handed. The central bank’s decision to devalue the yuan and then intervene heavily to prevent further declines has contributed to significant volatility in global markets.
This behavior has led many market participants and policymakers to question China’s readiness for global economic leadership. Arthur Kroeber discussed the recent turmoil in China’s currency and equity markets and the role of Chinese policy action in these developments. He then put them in context of the broader question of China’s role in the global economy.