Dealing with China’s High Savings Problem
From: Tuesday August 8, 2017, 4:00 pm
To: Tuesday August 8, 2017, 5:30 pm
The Department of Economics at Macquarie University invites you to join Professor Yang Yao from Peking University for his public lecture on the high savings problem in China, its impacts on the Chinese society and economy and the potential benefits for Australia.
Household income and consumption in China have grown rapidly in recent years. Meanwhile, China has accumulated a large amount of savings due to its export-led growth model and rising demographic dividends. What does this mean for the Chinese and Australian economies?
High savings may have helped China's economic growth, but at the same time have created excessive liquidity, which can be one of the key factors that contributes to high housing prices, volatility in the stock market and risk-taking behaviour of the corporate sector.
Professor Yao will discuss the pros and cons of the high saving rate for the Chinese economy, possible remedies to the high savings problem and the role of government in dealing with this problem. Professor Yao will also discuss how Australia can benefit from the high saving rates in China.
Click here to register for this event.
About the Speaker:
Yang Yao is a Cheung-Kong Scholar Chair Professor at the National School of Development (NSD), Peking University, Beijing, China. He is currently the Dean of NSD and the Director of the China Center for Economic Research (CCER), a leading think tank housed in the NSD. He currently holds the Asia Scholar Fellowship at the University of Melbourne.
Professor Yao has published widely in leading economic journals such as Journal of Development Economics, Journal of Public Economics, Journal of Labour Economics, Journal of Economic Growth, Oxford Bulletin of Economics and Statistics and Journal of International Money and Finance.
He is a member of the China Finance 40 Forum. His research interests include economic transition and development in China. He has authored many books on various aspects of the Chinese economy and he is also a prolific writer for magazines and newspapers, including the Financial Times and the Project Syndicate.
Professor Yao was awarded the 2008 and 2014 Sun Yefang Award in Economic Science—the highest award in economic science in China, the 2008 and 2010 Pu Shan Award in International Economics and the 2008 Zhang Peigang Award in Development Economics.
VenueMacquarie University City Campus, Level 24
Angel Place, 123 Pitt Street, SYDNEY NSW 2000