About the TalkThe Chinese economy has not had the widely expected rebound since pandemic restrictions were lifted in late 2022. High debt levels, falling property prices, excess capacity in many industries, falling foreign direct investment, and tepid consumption growth have all contributed to a weak recovery and stubborn deflationary pressures.Commentators predict that the Chinese economy has peaked, and that it is now undergoing ‘Japanification’ – a reference to Japan’s lost decades marked by a prolonged period of sluggish growth, falling asset prices, and debt deflation. In response, the Chinese government has launched an ambitious plan – emphasising the technologies and industries of the future – to invest in ‘new quality productive forces’, increase productivity, and ensure technology self-sufficiency in the face of growing trade tensions. Amid the slowdown at home, Chinese firms are investing heavily in the rest of world, especially in other developing countries.What are the causes of China’s post-Covid slowdown? Is the slowdown structural or cyclical? And what are its likely impacts on the rest of Asia and the world? 
 In this talk, Prof. Donald Low  will examine the causes and economic consequences of the zero-Covid policy that the Chinese authorities pursued for much of the pandemic, as covered in his latest book, The Price of Zero: Chinas Policy Missteps During & After Covid (Call no. RA644.C67 L69 2024).Register here: https://lbcube.hkust.edu.hk/ce/event/10538
The book will be available for sale at the talk for HKD $120 (cash & FPS only).  About the Speaker:Donald Low is Senior Lecturer and Professor of Practice at the HKUST Institute for Public Policy, as well as Director of Leadership and Public Policy Executive Education (LAPP) at the Hong Kong University of Science and Technology (HKUST).He’s the editor of Behavioural Economics and Policy Design: Examples from Singapore (2011), the lead author of Hard Choices: Challenging the Singapore Consensus (2015), and co-author of PAP v PAP: The Party’s Struggle to Adapt to a Changing Singapore (2020).  Notes:This is a HMAW1905-recognized event in the “Personal Enrichment & Community Service” category under the Self-directed Experience of HMAW1905: Behavioral Foundations of University Education: Habits, Mindsets, and Wellness.To receive 1.0 hours, you must attend the event in full and miss no more than 10mins.Photos will be taken during the talk. By attending or participating in this event, you are giving your consent to be photographed and you are waiving any and all claims regarding the use of your image by the University.

About the TalkDr. Wen will discuss his book, “The making of an economic superpower: unlocking China’s secret of rapid industrialization" (call number: HD3616.C63 W46 2016). This book argues that the generally accepted institutional theory of economic development is highly inadequate in explaining China’s astonishing economic growth, and only a radical reinterpretation of the history of the Industrial Revolution and the rise of the West can fully explain China’s growth miracle in the past 30 years.
 座談會簡介文一教授認為當代主流經濟學理論，尤其是關於經濟發展的製度經濟學理論，無法解釋中國過去三十年的崛起。在這次座談會中，文一將討論其著作《偉大的中國工業革命: "發展政治經濟學"一般原理批判綱要》(索書號: HD3616.C63 W462 2016)及重新闡釋工業革命和西方崛起的歷史來解釋中國增長的奇蹟，以及為什麼中國的崛起是不可阻擋的。About the SpeakerDr. Wen Yi (PhD., University of Iowa, 1996) is currently a Senior Economist and Assistant Vice President at the Federal Reserve Bank of St. Louis and Distinguished Visiting Professor at the Tsinghua University School of Economics and Management, and PBC School of Finance in China. He previously held academic positions at the Hong Kong University of Science and Technology, Cornell University, Washington University in St. Louis, and served as inaugural CCB Chair Professor in the School of Economics and Management at Tsinghua University. His research interest is related to macroeconomics, monetary policy, economic growth and development. In addition, his editorial activities include: (i) Co-editor, China Economic Review (2011 – present); (ii) Associate Editor, Macroeconomic Dynamics (2009 – 2012), (iii) Associate editor, Journal of Economic Dynamic and Control (2010 – present), etc. 
 講者簡介作者為清華大學經濟管理學院CCB講席教授（2008-2015），經管學院和五道口金融學院資深訪問教授，中國國家“千人計劃”入選者。 1982年獲華西醫科大學醫學學士，1991年獲美國聖母大學哲學碩士，1996年獲美國愛荷華大學經濟學博士。之後曾任職於香港科技大學經濟系（1996-1999），美國康奈爾大學經濟系（1999-2005），美國聯邦儲備銀行（聖路易斯分行）研究部，2008年升任助理副行長並獲得美國印第安納大學（Bloomington）經濟系終身正教授聘書。研究方向為宏觀經濟學，研究領域包括商業周期和經濟波動理論，動態優化中的多重均衡和市場失靈，理性預期下自我實現的資產泡沫，貨幣政策和量化寬鬆政策的微觀基礎與動態一般均衡，發展政治經濟學和中國宏觀經濟，等等。兼任過《宏觀經濟動力學》副編輯（Macroeconomic Dynamics, Associate Editor，2009-2012）、《經濟動力學與控制論》副編輯（Journal of Economic Dynamics and Control, Associate Editor，2010年-至今），《中國經濟評論》副主編（China Economic Review, Co-Editor，2011年-至今），和清華大學《經濟學報》（中文）副主編（Co-Editor, 2014年-至今）。