China and World Economy Under the Cloud of Trade Disputes: New Challenges November 30 - December 1, 2020

Organized by Global Research Unit, City University of Hong Kong ● Bank of Finland Institute for Economies in Transition (BOFIT) ● Gabelli School of Business, Fordham University

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November 30, 2020 (Monday, all times are in Helsinki time unless stated otherwise)


Welcoming Remarks: Yin-Wong Cheung, Iftekhar Hasan, Iikka Korhonen

Session 1: Renminbi – I, Chair: Frank Westermann, Osnabrück University


Marseille, France)

Shadowing the Dollar or Basket Pegging in China?

Fatemeh Salimi Namin, Aix-Marseille University (with Eric Girardin, Aix-Marseille University)

Discussant: Louisa Grimm, Osnabrück University (Presentation, PDF)


(10:00-10:50 Osnabrück, Germany)

The Evolution of Offshore Renminbi Trading: 2016 to 2019 (Presentation, PDF)

Frank Westermann, Osnabrück University (with Yin-Wong Cheung, City University of Hong Kong; Louisa Grimm, Osnabrück University)

Discussant: Yabin Wang, Hong Kong Monetary Authority



Session 2: Renminbi – II, Chair: Laura Solanko, BOFIT, Bank of Finland


(13:00-13:50 Frankfurt, Germany)

Markets vs. policies: Can the US dollar's dominance in global trade be dented? (Presentation, PDF)

Georgios Georgiadis, European Central Bank (with Helena Le Mezo and Arnaud Mehl, European Central Bank; Cedric Tille, Geneva Graduate Institute & CEPR)

Discussant: Hiro Ito, Portland State University (Presentation, PDF)


(07:50-08:40, New York, USA)


U.S. monetary policy uncertainty and RMB deviations from covered interest parity (Presentation, PDF)

Xingwang Qian, SUNY Buffalo State College (with Zhitao Lin, Jinan University)

Discussant: Risto Herrala, BOFIT, Bank of Finland (Presentation, PDF)

15:40-15:50 Break

Keynote session, Chair: Tuomas Välimäki, Bank of Finland


Boston, USA)

America and Asia-Pacific Trade After Donald Trump (Presentation, PDF)

Peter A. Petri, Brandeis University


December 1, 2020 (Tuesday, all times are in Helsinki time)

Session 3: Chinese capital markets, Chair: Iikka Korhonen, BOFIT, Bank of Finland


(22:00-22:50, November 30, San Francisco, USA)

Competitive Effects of IPOS: Evidence from Chinese Listing Suspensions (Presentation, PDF)

Mark M. Spiegel, Federal Reserve Bank of San Francisco (with Frank Packer, Bank for International Settlements)

Discussant: Isabel Yan, City University of Hong Kong (Presentation, PDF)


(14:50-15:40, Shanghai, China)

The Effect of the China Connect (Presentation, PDF)

Chang Ma, Fudan University (with John Rogers, Federal Reserve Board; Sili Zhou, Fudan University)

Discussant: Denis Davydov, University of Vaasa (Presentation, PDF)



Session 4: Growth and liquidity, Chair: Zuzana Fungáčová, BOFIT, Bank of Finland


What 31 provinces reveal about growth in China?

Eeva Kerola, BOFIT, Bank of Finland (with Benoit Mojon, Bank for International Settlements)

Discussant: Bertrand Candelon, Université Catholique de Louvain (Presentation, PDF)


(16:50-17:40, Hong Kong)

Liquidity of China Government Bond Market: Measures and Driving Forces (Presentation, PDF)

Gaofeng Han, Hong Kong Institute of Monetary and Financial Research (with Hui Miao, International Monetary Fund; Yabin Wang, Hong Kong Monetary Authority)

Discussant: Zhitao Lin, Jinan University (Presentation, PDF)


Concluding Notes