As economic growth in the world's most populous country slows, its leaders face some tough policy choices. Should Chinese authorities further restrict Chinese from investing abroad? Should China release its grip on the exchange value of its currency, devaluing further—or should China's central bank raise interest rates to support the value of the currency? The choices China makes may have significant consequences for Americans.
This installment in our evening lecture series for the public addressed this "trilemma" confronting China. Our main speaker, Christopher J. Neely, is an economist and assistant vice president in the Research division of the Federal Reserve Bank of St. Louis. One of Neely's areas of expertise is international finance. Following his presentation, Neely was joined by two of his colleagues for a panel discussion. They are Cletus C. Coughlin, who is an economist, senior vice president and chief of staff to President and CEO James Bullard; and YiLi Chien, a senior economist in our Research division. Coughlin's research interests include international economics, and Chien's include macroeconomics. All three took questions from the audience.