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The Impact of Continuous Fed Rate Hikes on the Chinese Economy

In: Proceedings of the 2023 5th International Conference on Economic Management and Cultural Industry (ICEMCI 2023)

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  • Shuhui An

    (Northeastern University)

Abstract

In the post-pandemic economic recovery period, the Chinese government faces the wide-ranging economic impact of the Federal Reserve’s continuous interest rate hikes, driven by soaring inflation rates in the United States. This study conducts an in-depth analysis of these effects, encompassing direct and indirect factors such as the continuous depreciation of the Chinese RMB exchange rate, sluggish employment markets, and decelerating economic growth. Although the Chinese government has taken several countermeasures, certain aspects of the economic recovery have not been as effective as expected. Based on this, it is recommended that the Chinese government adopt a more flexible monetary policy and actively engage in international economic cooperation, among other things, to adjust its coping strategies to better adapt to the economic development situation under the dual challenges of the post-epidemic situation and the Federal Reserve’s continued interest rate hikes, to ensure that China’s economy achieves sustainable growth and long-term stability.

Suggested Citation

  • Shuhui An, 2024. "The Impact of Continuous Fed Rate Hikes on the Chinese Economy," Advances in Economics, Business and Management Research, in: Feng-xia Cao & Satya Narayan Singh & Ahmad Jusoh & Deepanjali Mishra (ed.), Proceedings of the 2023 5th International Conference on Economic Management and Cultural Industry (ICEMCI 2023), pages 765-775, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-368-9_91
    DOI: 10.2991/978-94-6463-368-9_91
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