Contents

China

-Sino-US Trade and Investment Relationship Needs Fairness and Reciprocity by Liu Jun

-Time for Economies to Build Bulwarks by Ding Jianping and Yang Jie

-Challenges Await China's Economy by Hong Hao

RMB Internationalization

-Creeping Gold Standard by Herbert Poenisch

-Measures for Global Renminbi Growth by Elliot Hentov

-Renminbi's Global Push is Forging Ahead by Xia Le

Financial Regulation

-Bank Regulations: An Existential Threat? by Steve H. Hanke

-Financial Risk Can’t be Ignored Amid Restructuring by Xiong Yuan

-Code of Conduct Needed to Reduce Moral Hazard by Li Honghan

International

-The First Brexit by David Marsh

-Financing Future Energy by Herbert Poenisch

-Emerging Markets Surpass Expectations by Gary Kleiman

-Sterling Lessons for Asia by Zeti Aziz

Fintech

-Barbarians at the Monetary Gate by Andrew Sheng and Xiao Geng

-Digital Future for Sterling by Victoria Cleland

-Fintech Fills Funding Shortfall by Greg Medcraft

Sustainable Development

-Are the Sustainable Development Goals Achievable? by Andrew Sheng and Xiao Geng

-Public Infrastructure Investment: A BRICS Perspective for Inclusive Sustainable Development by Jaya Josie

Research Report

-East or West, Home is Best?——Are banks becoming more global or local? by Zhejiang University Academy of Internet Finance

Working Paper

-Shadow Banking in China: Then and Now by Xi Chao and Xia Le

-Institutional Investors and the QE Portfolio Balance Channel by Michael Joyce, Liu Zhuoshi and Ian Tonks

-The Impact of Internet Sales Tax in a Search Model of Money: Some Analytical Results by Dai Tiantian, Jiang Shenyi, Liu Xiangbo and Wang Wen