US-China Economic Relations: From Conflict to Solutions


June 11, 2018, 10:45 AM to 1:30 PM EDT
PIIE Webcast, Washington, DC

Adam S. Posen (PIIE), Ha Jiming (China Finance 40 Forum), Chad P. Bown (PIIE), Jin Zhongxia (International Monetary Fund), Nicholas R. Lardy (PIIE), Guan Tao (China Finance 40 Forum) and Joseph E. Gagnon (PIIE)

Event Summary

The Peterson Institute for International Economics (PIIE), along with the China Finance 40 Forum (CF40), the noted independent economic think tank based in Beijing, held a discussion on "US-China Economic Relations: From Conflict to Solutions" on June 11, 2018.

In mid-May in China, PIIE and CF40 launched a joint report identifying the costs and impacts of trade wars to the working people of both China and the United States, as well as to the entire world economy. For the morning session of the Washington launch of the report, PIIE President Adam Posen presented the report's 10 practical guidelines for how to deal constructively with the underlying economic conflicts between China and the United States that can replace those leading to a destructive trade war. CF40 Senior Fellow Dr. Ha Jiming presented a further Chinese perspective on creating a basis for US-China economic cooperation despite the current tensions. PIIE Senior Fellow Chad P. Bown presented more specific policy recommendations on current US-China trade disputes.

Two Chinese experts, Dr. Jin Zhongxia, executive director for China at the International Monetary Fund (IMF), and Dr. Guan Tao, senior fellow at CF40, provided their insights for the afternoon panel. PIIE Senior Fellows Nicholas R. Lardy and Joseph E. Gagnon presented policy recommendations on opportunities and challenges facing China's financial openings.

About the speakers and panelists

Prior to joining CF40, Ha was most recently managing director at Goldman Sachs in Hong Kong from 2010 to April 2017. He was previously chief economist at the China International Capital Corporation from 2004 to 2010 and a senior economist at the International Monetary Fund.

Bown, PIIE's Reginald Jones Senior Fellow since March 2018, joined the Peterson Institute for International Economics as a senior fellow in April 2016. Previously, he was a lead economist at the World Bank, conducting research on international trade policy. With Soumaya Keynes from The Economist, he cohosts Trade Talks, a weekly podcast on the economics of international trade policy.

Jin joined the IMF in February 2015. Prior to joining the IMF, he was director-general of the Research Institute for the People's Bank of China (PBC), where he was responsible for open market operations. He was previously a deputy director-general of the International Department at PBC and responsible for G-20 matters, IMF affairs, and regional monetary cooperation.

Guan worked at the State Administration of Foreign Exchange (SAFE) prior to joining CF40 and was director-general of the Department of Balance of Payments (BOP) from 2009 to 2015. Since 1994, he has been playing an active role in China's exchange rate reform. Guan received his PhD in economics from Peking Normal University and a master's degree in development economics from Australian National University.

Gagnon has been a senior fellow at PIIE since September 2009. He previously served at the US Federal Reserve Board as associate director of the Divisions of International Finance, and of Research and Statistics. He is the coauthor of the Institute book, Currency Conflict and Trade Policy: A New Strategy for the United States.

Lardy is the Anthony M. Solomon Senior Fellow at the Institute. He joined PIIE in March 2003. A prominent expert on China, he was previously at the University of Washington, where he was the director of the Henry M. Jackson School of International Studies from 1991 to 1995.


10:30 – 10:45 am Registration
10:45 – 10:55 Welcome
  Adam S. Posen, PIIE
Wang Haiming, CF40
10:55 am – 12:00 pm Presentation and discussion on "A Constructive Approach to China-US Trade Tensions"
Adam Posen, PIIE
Ha Jiming, CF40
Chad P. Bown, PIIE
12:00 – 12:15 pm Buffet Lunch
12:15 – 1:30 pm Panel on "Opportunities and Challenges Facing China's Financial Opening"
  Moderator: Adam S. Posen, PIIE
  Jin Zhongxia, IMF
Nicholas R. Lardy, PIIE
Guan Tao, CF40
Joseph E. Gagnon, PIIE

CF40–PIIE Joint Report

US-China Economic Relations: From Conflict to Solutions [pdf download]
Ha Jiming (China Finance 40 Forum) and Adam S. Posen (PIIE), editors

© 2018 Peterson Institute for International Economics, chapters 1 to 9.
© 2018 CF40, chapters 10 to 16. CF40 is solely responsible for the content and data in these chapters.