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Session 16: The China Currency Peg
2:00-3:15 pm Bromley/Claypool
World Bank estimates (purchasing power parity) rank China as the second largest economy (60 percent of the United States in size). Gain insight in how Number Two pegs its currency to Number One.
Sponsored by the NABE International Roundtable
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Speakers
Vibhas Madan
Drexel University
presiding
Ted Chu
Senior Manager, Economic & Industry Analysis
General Motors Corp.
Ted Haoquan Chu is senior manager of Economic & Industry Analysis at General Motors Corp. He has also been appointed as a professional fellow of GM.
Before joining GM in 1996, Mr. Chu served as a macroeconomist at the World Bank (1995-1996). He was also an associate at Decision Focus, Inc., a Silicon Valley management science consulting firm (1992-1994), and a staff consultant at Arthur D. Little, Inc (1988-1992).
Mr. Chu received his Master’s and Ph.D. in economics at Georgetown University in Washington, D.C. in 1991 and a B.A. in economic management at Fudan University in Shanghai in 1986. He was a past president of the Washington Chinese Professional Association.
David HaleDavid Hale is a Chicago-based economist whose clients include investment management firms, major hedge funds, and multinational companies in North America, Europe, Asia, Australia, and South Africa. He is the founding chairman of Hale Advisors and China Online, which provides daily business news on China. He formerly worked as chief economist for Kemper Financial Services from 1977 to 1995 and Zurich Financial Services which he joined as chief economist when it purchased Kemper in 1995. He advised the group’s fund management and insurance operations on the economic outlook and a wide range of public policy issues until 2002, when he founded Hale Advisors.
Mr. Hale holds a B.Sc. degree in international economic affairs from the Georgetown University School of Foreign Service and a M.Sc. degree in economics from the London School of Economics.
Mr. Hale is a member of the National Association of Business Economists and the New York Society of Security Analysts. He writes on a broad range of economic subjects and his articles have appeared in the Wall Street Journal, The Far Eastern Economic Review, The Financial Times of London, The New York Times, The Nihon Kezai Shimbun, The Australian Financial Review, The Harvard Business Review, Foreign Affairs, Foreign Policy, National Interest, and other publications. He lectures worldwide, to groups including the World Economic Forum, the Fortune Global CEO Conference and the National Association of Governors. He has frequently testified before Congressional committees on domestic and international economic policy issues and does briefings for senior officials in the executive branch, including President Bush. He has also been a consultant to the U.S. Department of Defense on how changes in the global economy are affecting U.S. security relationships.
In September 1990, the New York chapter of the National Association of Business Economists conferred upon Mr. Hale the William F. Butler Award. This award is conferred annually by the society upon a business economist who has made an outstanding contribution to the field. Other recipients have included Paul Volcker, Geoffrey Moore, Lawrence Klein, Alan Greenspan, and Otto Eckstein.
Mr. Hale is a member of the Academic Advisory Board of the Federal Reserve Bank of Chicago, and the Hong Kong Monetary Authority as well as a variety of government and private sector economic policy research groups in Washington, Tokyo, and Berlin. He was also recently appointed to the Competitive Markets Advisory Council of the Chicago Mercantile Exchange. Mr. Hale also maintains close ties to his native state of Vermont and has served on advisory boards in its state government, including the Council of Economic Advisors. He is a member of the Council on Foreign Relations in both New York and Chicago, and is a long-time member of the Australian American Leadership Dialogue.
Mr. Hale is married to Lyric Hughes Hale, publisher of China Online. They live in Chicago with their five children, and are currently writing a book on the Chinese economy.
