Derek M. Scissors is a resident scholar at the American Enterprise Institute (AEI), where he studies Asian economic issues and trends. In particular, he focuses on the Chinese and Indian economies and US economic relations with China and India. Scissors is also an adjunct professor at George Washington University, where he teaches a course on the Chinese economy.
Before joining AEI, Scissors was a senior research fellow in the Asian Studies Center at the Heritage Foundation. He has also worked in London for Intelligence Research Ltd., taught economics at Lingnan University in Hong Kong, and served as an action officer in international economics and energy for the US Department of Defense.
Scissors has a bachelor’s degree in economics from the University of Michigan, a master’s degree in economics from the University of Chicago, and a doctorate in international political economy from Stanford University.
Adjunct Professor in Chinese Economy, Department of Economics, Columbian College of Arts & Sciences, George Washington University, 2000–present
Senior Research Fellow in Economics, Asian Studies Center, Heritage Foundation, 2008–13
Economist Specializing in Chinese Economy, Intelligence Research Ltd., Courcy’s Intelligence Service, London, 1998–2008
Lecturer, Department of Economics, Lingnan University, Hong Kong, 1994–97
Action Officer in International Economics and Energy, International Security Affairs, Office of the Secretary of Defense, US Department of Defense, 1989–90
Ph.D., international political economy, Stanford University M.A., economics, University of Chicago A.B., economics, University of Michigan
China holds a large amount of US Treasury bonds and changes in their holdings are often treated as important. Most recently, China's holdings of Treasuries were said to drop almost $50 billion in December. This is seen by some as portending loss of faith in the dollar and perhaps rising US interest rates. This view is mostly wrong, including the apparent fact that China cut Treasury holdings.
China’s economic challenges are multidimensional and extensive, and the 2013 plenum was the best reform opportunity for years to come. Yet, the reforms themselves are flawed in multiple ways—most are inauthentic, uncredible, or nonviable. Instead, the areas of land and finance offer more limited prospects for true reform.
China announced its 2013 economic results Monday. Gross Domestic Product (GDP) grew 7.7 percent to RMB56.9 trillion - about US$9.3 trillion. It may seem odd that GDP and other statistics measuring the actions of 1.3 billion people can be compiled in barely three weeks, but it's comparatively normal. After all, the inflation rate was compiled in nine days.
If there’s a Chinese business person in your neighborhood talking about buying a local company or plot of land, you’re not alone. Excluding bond purchases, Chinese investment in the U.S. set a record last year at over $14 billion, rising more than 50 percent from 2012. Whether more is on the way is largely our choice.
Prime Minister Shinzō Abe's more forward-leaning foreign and national security policies have led to renewed interest in the potential for a US-India-Japan trilateral relationship. At this public event, experts will explore the rationales behind and roadblocks to greater cooperation.
Japan's figure for third-quarter GDP growth was recently revised downward to only 1.1 per cent annualized. This will be taken as sharply negative for Prime Minister Abe's ‘three arrows' approach. But GDP growth is not a clear sign of the success or failure of Abenomics.