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Hearing: China's Role in the Origins of and Response to the Global Recession

February 17, 2009

Room 562, Dirksen Senate Office Building
Delaware and Constitution Avenue, NE
Washington, DC 20510

Hearing Co-Chairs: Commissioners Michael R. Wessel and Daniel M. Slane


Opening Statements

  • Opening Statement of Chairman Carolyn Bartholomew [Remarks]
  • Opening Statement of Vice Chairman Larry Wortzel [Remarks]
  • Opening Statement of Commissioner Michael Wessel [Remarks]
  • Opening Statement of Commissioner Daniel M. Slane [Remarks]

Congressional Remarks

Panel I: The Origins of the Financial Crisis and Link to China

  • Dr. Nicholas R. Lardy, Senior Fellow, Peterson Institute for International Economics, Washington, DC
  • Dr. Stephen S. Roach, Chairman, Morgan Stanley Asia, Hong Kong [Testimony] ( PowerPoint Charts)
  • Mr. Robert B. Cassidy, International Trade and Services Professional, Kelley Drye & Warren LLP, Washington, DC [Testimony]
    View Cassidy's Select World Currencies Chart

Panel II: China’s Short Term and Long Term Economic Goals and Prospects

  • Ms. Alexandra Harney, author of “The China Price,” Hong Kong [Testimony]
  • Mr. Gordon Chang, author of “The Coming Collapse of China,” Bedminster, NJ [Testimony]
  • Dr. Wing Thye Woo, Professor of Economics, University of California at Davis, CA, and Senior Fellow, Brookings Institution, Washington, DC [Testimony]

Panel IV: The Effect of the Crisis on the U.S.-China Economic Relationship

  • Dr. Derek Scissors, Research Fellow, The Heritage Foundation, Washington, DC [Testimony]
  • Mr. Michael Pettis, Professor of Finance, Peking University, Beijing, China [Testimony]
  • Dr. Eswar Prasad, Professor of Trade Policy, Cornell University, Ithaca, NY and Senior Fellow, Brookings Institution, Washington, DC [Testimony]