
About Willem Thorbecke
Willem Thorbecke is a senior fellow at Japan's Research Institute of Economy, Trade and Industry (RIETI). He was a senior research fellow at the Asian Development Bank Institute (ADBI) from June 2009 to September 2011. Prior to that, he was associate professor of economics at George Mason University. His recent research has focused on East Asian production networks, exchange rates, trade, and global imbalances.Time for the PRC to stop buying US Treasuries and start investing in its people

The PRC needs to redirect money away from increasing its external reserves and toward spending on education, health care, and affordable housing to improve the well-being of its citizens. The PRC would benefit greatly from an exchange rate regime characterized by a multiple-currency, basket-based reference rate, and a reasonably wide band. Greater exchange rate flexibility would allow more decoupling between PRC and US interest rates, helping the People’s Bank of China (PBOC) to implement monetary policy that is best for the nation. The PRC’s exchange rate interventions to sustain the export-oriented thrust of the economy are not helpful to the nation for several reasons.


Search
Subscribe / Connect to Asia Pathways
Subjects
- Accelerating Progress in Gender Equality
- Addressing Remaining Poverty and Reducing Inequality
- Agriculture and natural resources
- Capacity development
- Climate change
- Economics
- Education
- Energy
- Environment
- Finance sector development
- Gender
- Governance and public sector management
- Health
- Industry and trade
- Information and Communications Technology
- Infrastructure
- Making Cities More Livable
- Miscellaneous
- Population
- Poverty
- Private sector development
- Regional cooperation and integration
- Sanitation
- Social development and protection
- Strengthening Governance and Institutional Capacity
- Subjects
- Transport
- Uncategorized
- Urban development
- Video Blog
- Water
Recent Posts
- Investing in Childcare a Win for Women and the Economy
- Flush and Flourish: Upgraded Toilets Can Transform Lives in Rural Asia
- New Ways for Climate Finance and Development in Asia and the Pacific
- Rethinking High-Rise Living: Balancing Urban Growth and Sustainability in Asia’s Cities
- Navigating Linear Transport Infrastructure Through Conservation Landscapes
Recent Comments