Cathay Bank/UCLA Anderson Forecast U.S.-China Economic Report Updates Analysis of Trade Agreement Talks
April 18 2019 - 12:00PM
In its first quarter report for 2019, the Cathay Bank/UCLA Anderson
Forecast U.S.-China Economic Report notes that trade negotiations
between the U.S. and China are making progress, which may mean that
an agreement between the two countries is under way. While the
possibility of a resolution is encouraging, it does not diminish or
eliminate potential tensions or disputes that may arise between the
two largest economies in the world.
As mentioned in previous reports, “The world is in a new era of
strategic competition between the U.S. and China, particularly in
the fields of science and technology,” says William Yu, UCLA
Anderson Forecast economist. That tension was evident when a U.S.
Senate panel discovered that work that Google may have done in
China directly benefitted the country’s military. Google’s
response: it said it had dropped some ideas it had been
pursing with the Chinese government. “We expect more of this state
scrutiny and regulation with respect to technologically
sophisticated products and services in the future,” says Yu.
Amid ongoing discussions, all of the U.S. trading partners have
had an increase in U.S. exports, with the exception of China and
Hong Kong. The latter is attributable to China’s retaliation
against the U.S. tariffs and to the slowing growth of China’s
economy.
The potential new trade agreement could well usher in a
two-tiered trading relationship between the U.S and China. One tier
would include some consumer goods, services, some investment, and
tourism, which would resume in a relatively free trade environment.
The other tier of goods and services, involving advanced
technology, information, communication, and national security,
would be governed by strategic competition parameters rather than
free trade.
For a full report of the Cathay Bank/UCLA Anderson Forecast,
click here: (https://bit.ly/2GmYKlD).
About UCLA Anderson Forecast
UCLA Anderson Forecast is one of the most widely watched and
often-cited economic outlooks for California and the nation, and
was unique in predicting both the seriousness of the early-1990s
downturn in California and the strength of the state’s rebound
since 1993. More recently, the Forecast was credited as the first
major U.S. economic forecasting group to declare the recession of
2001. Visit UCLA Anderson Forecast at uclaforecast.com.
About Cathay Bank
Cathay Bank, a subsidiary of Cathay General Bancorp (Nasdaq:
CATY), offers a wide range of financial services through nine
states in the U.S. as well as a branch in Hong Kong and
representative offices in Beijing, Shanghai, and Taipei. Founded in
1962 to support Los Angeles’ growing Chinese American community, in
the past half century the bank has expanded and grown with its
customers, providing them with the tools and services they need to
achieve their goals. Learn more at cathaybank.com. FDIC
insurance coverage is limited to deposit accounts at Cathay Bank’s
U.S. domestic branch locations.
Contact: Elise Anderson UCLA Anderson School of Management
elise.anderson@anderson.ucla.edu (310) 206-7537
Cathay General Bancorp (NASDAQ:CATY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Cathay General Bancorp (NASDAQ:CATY)
Historical Stock Chart
From Apr 2023 to Apr 2024