Contents

The NPC and CPPCC Sessions

-Power to the People's Bank of China by Herbert Poenisch

-What China's New Governor Should Do by David Marsh, Adam Cotter and John Adams

-The Right Way to Judge Chinese Governance by Andrew Sheng and Xiao Geng

-Time for a China Property Tax by Xia Le

International Trade

-Kudlow Must Give Trump a Lesson on Trade by Steve Hanke

-'Trading' Blows With the U.S. by Sumedh Deorukhkar, Betty Huang and Xia Le

-1987 by Hong Hao

-Trade in Services of China, Japan and Korea-The Way Forward by Choi Bo-Young

Global Economy

-Bubbles Pervade World Economy by Desmond Lachman

-Gaps in Global Financial Safety Net by Danke Kyriakopoulou

-A 50% Chance of a Crisis in 2019 by Brian Reading

China

-China's Economy Has Resilience to Overcome Vulnerabilities by Liu Jun

-Opportunities and Challenges for China's Bond Market by E Zhihuan

-Why There Is No "Beijing Consensus" by Andrew Sheng and Xiao Geng

-Japan-China Financial Co-operation by Adam Cotter and David Marsh

-Tokyo Rethinks Renminbi Co-operation by Adam Cotter and David Marsh

-China Downgrades Treasuries by Herbert Poenisch

-Nation Must Invest More in the Future by Qu Qiang

-China's Supply-side Structural Reforms for Sustainable Growth in the New Normal Era by Hyun Sang Baek

RMB Internationalization

-The Resumption of High Quality RMB Internationalization and the Financial Risk Control by E Zhihuan

-Advancing RMB Internationalization by Xia Le

Digital Economy

-Digital Economy Offers Exciting Prospects by Ben Shenglin and Chen Xueru

-Fintech Requires New Ways of Thinking by Yang Zaiping

Working Paper

-Changing Patterns of China's growth by Juan Carlos Martinez Oliva

-Redefining Liquidity for Monetary Policy by Kyunghun Kim, Il Houng Lee and Won Shim