Heiwai TANG
Prof. Heiwai TANG
Director, Asia Global Institute
Director, APEC Study Center
Associate Director, Institute of China Economy
Associate Director, Hong Kong Institute of Economics and Business Strategy

3917 0029
3917 4388

MB 335/ KK 920

Academic & Professional Qualification
  • PhD: MIT
  • Bachelor: UCLA

Heiwai Tang is Professor of Economics, Director of the Asia Global Institute and HKU APEC Study Center, as well as the Associate Director Institute of China Economy and the Hong Kong Institute of Economics and Business Strategy at the University of Hong Kong (HKU). Prior to joining HKU, he was tenured Associate Professor of International Economics at the School of Advanced International Studies (SAIS) of Johns Hopkins University. He is also affiliated with the Federal Reserve Bank of Dallas (U.S.), the Center of Economic Studies and Ifo Institute (CESIfo, Germany), the Kiel Institute for the World Economy (Germany) and the Globalization and Economic Policy Center (U.K.) as a research fellow. He has been a consultant to the World Bank, the International Finance Corporation, the United Nations, and the Asian Development Bank; and held visiting positions at the IMF, Stanford, MIT, Harvard. He is currently an associate editor of the Journal of International Economics, the Journal of Comparative Economics and the China Economic Review. Since 2021, he has served on a number of public bodies, including the Currency Board Sub-Committee of the HKMA’s Exchange Fund Advisory Committee and the Minimum Wage Commission in Hong Kong.

Heiwai holds a Ph.D. in economics from MIT and a Bachelor of Science in mathematics from UCLA. His research interests span a wide range of theoretical and empirical topics in international trade, with a specific focus on production networks, global value chains, and China. His research has been published in leading journals in economics, including American Economic Review and Journal of International Economics. His research and opinions have been covered by BBC, Financial Times, New York Times, Al Jazeera, Foreign Policy, South China Morning Post, and various think tanks such as the Brookings Institution and the Peterson Institute for International Economics.


Columbia-LBS-HKU EMBA: The New World Order

HKU-PKU DBA: Frontiers in Economics Research

Fudan-HKU IMBA: The New World Order

HKU: Undergraduate Common Core – China in the Global Economy; MBA – Global Economy; Master of Economics – Economic Policy

Research Interest

International Trade, Global Value Chains, Development Economics

Selected Publications
  • ​“Currency Carry Trade by Trucks: The Curious Case of China’s Massive Imports from Itself”, Review of Finance, forthcoming. (with Xuepeng Liu, Zhi Wang, and Shang-Jin Wei)
  • “Do Multinationals Transfer Culture? Evidence on Female Employment in China”, Journal of International Economics, 133, Nov 2021, 103518. (with Yifan Zhang)
  • “Domestic Segment of Global Value Chains in China under State Capitalism”, Journal of Comparative Economics, 48(4), Dec 2020, pp. 797-821. (with Fei Wang and Zhi Wang)
  • “Excessive Entry and Exit in Export Markets”, Journal of the Japanese and International Economies, 53, Sep 2019, 101031. (with Hiro Kasahara)
  • “Why is China Investing in Africa? Evidence from the Firm Level”, World Bank Economic Review, 32(3), Oct 2018, pp. 610-632. (with Wenjie Chen and David Dollar)
  • “Are Foreign Firms Favored in China? Firm-level Evidence on the Collection of Value-Added Tax”, Journal of International Business Policy, 1(2), Inaugural Issue, Jun 2018, pp. 71-91. (with Yasheng Huang)
  • “Domestic Value Added in Exports: Theory and Firm Evidence from China”, American Economic Review, 106(6), Jun 2016, pp. 1402-1436. (with Hiau Looi Kee)
  • “Scale, Scope, and Trade Dynamics of Export Processing Plants”, Economics Letters, 133, Aug 2015, pp. 68-72. (with Ana Fernandes)
  • “Learning to Export from Neighbors”, Journal of International Economics, 94(1), Sep 2014, pp. 67-84. (with Ana Fernandes)
  • “Factor Intensity, Product Switching, and Productivity: Evidence from Chinese Exporters”, Journal of International Economics, 92(2), Mar 2014, pp. 349-362. (with Yue Ma and Yifan Zhang)
  • “International Politics and Import Diversification”, Journal of Law and Economics, 56(4), Nov 2013, pp. 1091-1121. (with Sergey Mityakov and Kevin Tsui)
  • “Exchange Rates and the Margins of Trade: Evidence from Chinese Exporters”, CESIfo Economic Studies, Symposium on China’s Trade Performance, 58(4), Dec 2012, pp. 671-702. (with Yifan Zhang)
  • “Determinants of Vertical Integration in Export Processing: Theory and Evidence from China”, Journal of Development Economics, 99(2), Nov 2012, pp. 396-414. (with Ana Fernandes)
  • “Labor Market Institutions, Firm-specific Skills, and Trade Patterns”, Journal of International Economics, 87(2), Jul 2012, pp. 337-351.
Awards and Honours
  • Hong Kong RGC Grant, Co-PI, HKD 418,975, 2022-2024
  • Committee of 100 Next Generation Leader, 2018
  • Richard Paul Richman Center for Business, Law, and Public Policy Grant, Columbia University, Co-PI, USD 14,500.
  • Social Sciences and Humanities Research Council (SSHRC) of Canada Insight Grant, Co-Investigator, CAD 78,736
  • Student-Elected Best Professor of the Master of International Econ and Finance Program, JHU SAIS, 2016-2017
  • Alcoa Foundation Grant, Co-PI, USD 500,000, 2016-2019
  • Hong Kong RGC Grant, Co-PI, HKD 364,378, 2017-2019
  • Outstanding Referee Journal of International Economics, 2014-2017.
  • Hong Kong RGC Grant, Co-PI, HKD 336,462, 2011-2013
  • The Nuffield Foundation Social Science Grant, SGS/36581, Co-PI, £12,000, 2009-2011
  • MIT Presidential Fellowship, 2002-2003
Service to the University/Community
  • Currency Board Sub-Committee of the HKMA Exchange Fund Advisory Committee, Member, 2022-
  • Minimum Wage Commission in Hong Kong, Member, 2022 –
  • Pacific Economic Review, Managing Editor, 2022 –
  • Journal of International Economics, Associate Editor, 2019 –
  • China Economic Review, Associate Editor, 2018 –
  • Journal of Comparative Economics, Associate Editor, 2017 –
  • China Economics Summer Institute, Academic Committee Member, 2017 –
  • International Finance Corporation (IFC), Consultant, 2017 –
  • United Nations Industrial Development Organization, Consultant, 2016 – 2017
  • Asian Development Bank, Consultant, 2016 – 2017
  • IMF, Research Department, Visiting Scholar, 2015 – 2016
  • World Bank, Consultant, 2013 – 2017
Recent Publications
香港經濟:「驚濤駭浪」的一季度GDP收縮4% 復蘇面臨諸多限制


打造香港成ESG都会 迈向零碳经济

「环境、社会及管治」(Environmental, Social, and Governance;简称ESG)近年成为全球热门话题。近日环球金融市场备受时局动荡影响,市民因受「息诱」,对绿色债券趋之若鹜,但对其背后意义及对经济的影响,到底有多少认识?

打造香港成ESG都会 迈向零碳经济

「环境、社会及管治」(Environmental, Social, and Governance;简称ESG)近年成为全球热门话题。近日环球金融市场备受时局动荡影响,市民因受「息诱」,对绿色债券趋之若鹜,但对其背后意义及对经济的影响,到底有多少认识?



借鑒三小國改革經驗 完善再工業化產業政策


Hong Kong plan to ease COVID restrictions ‘comes too late’

Hong Kong imposed some of the world's toughest restrictions earlier this year after being hit by a fifth wave of coronavirus infections. But from Thursday, they are being relaxed. Restaurants will be allowed to serve until 10pm and hair salons and gyms can reopen. But critics say it's too late for some businesses and the territory's COVID-19 policy needs to change dramatically.

【煒論經濟】借鑒三小國改革經驗 完善再工業化產業政策

繼早前在本欄與讀者探討三個香港未來可發展的產業,包括第三代半導體、生物科技和食品科技 ,筆者今次跟大家分享我對三個小型開放經濟體—— 以色列、新加坡和瑞士的經濟政策研究。選擇探討這三個國家的經驗,皆因其人口、勞動力成本和經濟發展均與香港相近,但先進製造業的表現卻遠遠拋離香港。


筆者早前與香港生產力局合作的《再工業化研究報告》,專注研究三個與香港經濟及人口規模相似的經濟體 ——以色列、新加坡和瑞士。近日新加坡政府與以色列政府簽署了關於人工智能的合作備忘錄,並提倡加強在農業科技和食品科技等領域合作。當像新加坡這樣類似香港的小型開放經濟體居安思危,重新想像後疫情時代自身在全球經濟的定位及籌謀新發展方向,香港又是否應想想如何向高端科技工業推進?

China-EU trade: commercial ties ‘hard to break’ despite disagreement over Ukraine war

Trade between China and the European Union (EU) could see some minor strains over Beijing’s stance on the Ukraine war, but decoupling is unlikely given the entrenched commercial relationship and impracticality of diversifying supply chains, experts say.

Copying gender practices from MNCs is good for business

In their study “Do multinationals transfer culture? Evidence on female employment in China”, published in the Journal of International Economics in July 2021, authors Heiwai TANG and Yifan ZHANG show that MNC practices do impact the behaviour of local companies, and the outcome is a positive impact on the productivity of local companies.


在本系列专栏的开首,笔者提及半导体产业链为香港应发展的五大科技产业之一。当前全球经济在数码转型,生产及生活正在经历ABCDR(即是人工智能(AI);区块链(Blockchain);云计算(Cloud Computing);大数据(Big Data)及机械人技术(Robotics)的革命,所有技术都大量增加对晶片需求,令半导体成为一项战略资产。



‘No easy exit’: Omicron outbreak tests China’s anti-Covid strategy

A surge in cases is forcing Beijing to adjust its strict pandemic measures, but it’s in no hurry to “live with Covid” as other countries are doing.

跨国精英逃港 损金融竞争力




China orders 51 million into lockdown as COVID surges

HONG KONG -- China is facing its worst COVID crisis since early 2020, when the world first witnessed an entire population locked down to contain the coronavirus in Wuhan and its surrounding province.







RCEP展「亚洲式」多边主义 香港经济现新重点


Ukraine invasion: Chinese tech firms face dilemma over Western sanctions on Russia

US sanctions on exporting hi-tech products to Russia are creating a dilemma for Chinese tech companies, from ride-hailing giant Didi Chuxing to smartphone vendor Xiaomi.





COVID-19: Hong Kong sets aside nearly US$22b in Budget to cushion impact of curbs

Hong Kong has set aside nearly US$22 billion in the Budget to cushion the impact of prolonged social restrictions.

Hong Kong unveils $22bn budget as ‘zero COVID’ hammers businesses

Hong Kong announced a HK$170 billion ($21.79bn) budget to boost its flailing economy on Wednesday, as the territory battles a fifth wave of coronavirus infections with its harshest pandemic restrictions yet.

港府料香港18个月后加入RCEP 助推动再工业化


Putting HK on stronger footing

The Hong Kong Special Administrative Region may not feel so blue after all — the city’s budget deficit for the 2021-22 financial year will probably range from HK$400 million ($51.2 million) to HK$37 billion — significantly less than the government’s forecast of HK$101.6 billion in February last year.

Putting HK back on its feet

While the HKSAR government still seems to be dodging long-term reform of its tax regime, accountants and economists are calling for comprehensive tax reform to bolster the city's economic competitiveness and rationalize economic planning.



有学者称再派消费券或推高通胀 政府长远应研扩阔税基增加收入





香港经济及商业策略研究所副总监邓希炜教授及团队与香港生产力促进局共同发布香港再工业化研究报告。此报告旨在分析香港三大被视为极具竞争优势的 先进制造行业──食品科技、健康科技和绿色科技的当前表现及未来潜力。

再工业化五大产业 为香港经济和年轻一代创新天


炜论经济|再工业化「五大产业」 为香港经济和年轻一代创新天


疫下运输受阻 货品供应地捨近求远?








Crossing the border for greater opportunities

Hong Kong insurers are now eagerly awaiting the border re-opening with the mainland and keen to tap into the growing Greater Bay Area (GBA) market. And while COVID-19 has accelerated digital transformation, maintaining the “human touch” is equally important to an industry that is people-oriented and built on trust and integrity.

新时代新气象 再工业化打造 香港经济新引擎

科技日新月异的今天,香港传统工业正在默默起革命,在「後疫情」年代,「再工业化」能否应运而生,扭转香港长期过度倚重金融和地产的格局?本报策划「香港新工业」系列专题,专访了多位业界权威及学界精英,他们均对香港「再工业化」寄予厚望,期盼能够藉此贡献国家,并为香港经济注入全新动力。  中国社会科学院工业经济研究所研究员李晓华撰文指,製造业曾经在香港经济崛起中发挥过重要作用,高峰时期工业占香港地区生产总值的比重超过30%。但是,随着香港製造业持续外迁,工业生产总值占比越来越低,2019年香港製造业增加值只有293.66亿元,占地区生产总值的比重下降到1.1%。

内地及港澳建单一自贸区 安全是前提




Universities need to generate innotech talent

The Hong Kong Productivity Council said on Monday technology companies are eager to manufacture more of their products in the SAR, but they need support to help nurture talent.



Revolutionizing HK’s landscape, economy

The making of the Northern Metropolis heralds a reshuffling of Hong Kong’s landscape and economy in the coming years — an ambitious and timely visionary move to optimize the city’s unbalanced economic structure and integrate it into the robust development of the Guangdong-Hong Kong-Macao Greater Bay Area, pundits said. In the last Policy Address of her administration’s current tenure, delivered on Oct 6, Chief Executive Carrie Lam Cheng Yuet-ngor unveiled a blueprint to develop the northern part of Hong Kong into a metropolitan area.

藉国际化优势 拓展外循环




财经演义 – 香港前路







政府自2016年开始推出多项措施,投资过百亿元,协助传统行业以科技升级改造,以及发展高产值行业。 5年后的今天,无论制造业占本地生产总值或工人占本地总就业人口依然不变,其实政府一直提倡的「再工业化」 概念,究竟为香港工业带什么改变?香港企业在回应工业4.0的大势时,又面对什么问题呢?

前海方案︱学者:港府应更主动讲出自身优势 不必惧怕人才流失

国务院本周一(9月6日)公布《全面深化前海深港现代服务业合作区改革开放方案》(前海方案),将前海合作区域面积扩大至原本的8倍。国务院新闻办公室今日(9月9日)下午举行新闻发布会,介绍横琴、前海两地开发建设有关情况。 港深合作的议题,对于港人来说绝不是新鲜事,也同时会带来一个疑问:到底香港和深圳协作,是竞争还是互补?尤其最大的疑问是:在整份前海方案中,香港的角色只是「从旁协助」前海发展,一旦香港的专业服务、企业家落户前海,又会否导致香港人才流失?


从孔子的「不患寡而患不均」或亚里士多德的「最差的不平等形式是让不平等的事物变得平等」(The worst form of inequality is trying to make unequal things equal),到近年美国坊间探讨下渗经济学(Trickle-down Economics)的失败,及最近中国在检讨自改革开放以来「一部分人先富起来」后「共同富裕」的进展,贫富悬殊自古以来都是常被热论的话题。笔者在此综观全球贫富悬殊问题和聚焦香港的严峻情况,望能激发更多深入的讨论及思考。


从孔子的「不患寡而患不均」或亚里士多德的「最差的不平等形式是让不平等的事物变得平等」(The worst form of inequality is trying to make unequal things equal),到近年美国坊间探讨下渗经济学(Trickle-down Economics)的失败,及最近中国在检讨自改革开放以来「一部分人先富起来」后「共同富裕」的进展,贫富悬殊自古以来都是常被热论的话题。笔者在此综观全球贫富悬殊问题和聚焦香港的严峻情况,望能激发更多深入的讨论及思考。

香港工业有何出路?港大教授建议 四行业有发展潜力

【iM人物专访】香港工业有何出路?港大教授建议 四行业有发展潜力




之前的幾十年裡,羅伯托·萊昂內( Roberto Leone)一直將電子產品生產外包給中國內地和東南亞等低成本地區,而現在他為自己的最新生產地選擇了一個令人意外的地點:亞洲成本最高城市之一的中國香港。在鄰近內地的元朗區,萊昂內參與創建的公司Nirotech Ltd.自2020年12月以來生產約3萬套視頻門禁對講機。


中新社香港7月20日电(记者王嘉程)香港特区政府统计处20日发表今年4月至6月最新劳动人口统计数字,经季节性调整的失业率由3月至5月的6.0%下跌至4月至6月的5.5%。 具体数字方面,总就业人数由上一期的363.04万人,上升至364.01万人,增加约9700人。同期总劳动人口则由386.37万人下跌至385.31万人,减少约1.06万人。就业不足率也从2.8%下跌至2.5%。



China backs Hong Kong to join RCEP trade deal in potential boost to city’s flagging logistics sector

China’s central government has expressed strong support for Hong Kong joining the Regional Comprehensive Economic Partnership (RCEP), after its financial secretary said the city intended to become a member of the 15-nation trade bloc in what could be a boost to its flagging logistics sector.

尖端科技.二|去科技化之痛 :「硅港」胎死腹中,陷入恶性循环  








房住不炒.上 | 内地打击楼市炒风 香港依然深陷炒楼泥沼

4月底,深圳市「一府一委两院」罕见地「换帅」,不少分析指与违规炒房的「深房理」事件有关:深圳市政府控制小微经营贷流入房地产市场不力,触碰「房住不炒」底线,引致高层出手干预。 「房住不炒」自2016年提出,掀起内地房产市场改革大潮​​;与此同时,香港却依然深陷「房炒不住」的泥沼中。



SAR risks ‘losing a generation of tech talent’

Hong Kong could lose a generation of technological talent because of scarce opportunities amid industrial polarization, with its economy revolving around just finance, an academic has warned.

Iron ore is saving Australia’s trade with China. How long can it last?

Wine and wheat. Lobsters and logs. Beef and barley. If Australia exports it, China has likely put up barriers to entry over the past year, as diplomatic relations between the two countries rapidly deteriorated. Now, one commodity is almost single-handedly keeping the trade relationship afloat: iron ore.

传拜登向富豪「开刀」 税率高达43.4% 学者:开天杀价落地还钱






Hong Kong Wants to Bring Back Factory Jobs That Left Long Ago

After decades overseeing the outsourcing of electronics production to low-cost destinations in China and Southeast Asia, Roberto Leone has chosen an unlikely location for his latest manufacturing venture: one of Asia’s most expensive cities, Hong Kong. Nirotech Ltd., the company Leone co-founded, has been pumping out 30,000 video door intercoms a month since December from the district of Yuen Long, near the border with mainland China.



双循环|国际形势剧变 中国战略调整 香港「山雨欲来风满楼」


Industry 4.0 needs all gears to mesh

Hong Kong’s reindustrialization strategy, announced in 2016, commits over $12.9 billion to a data center, an advanced manufacturing center, applied research, platforms for medical technology and other ambitious projects. However, policy gaps remain to be filled, reports Oswald Chan from Hong Kong.

疫下食品制造商申资助推智慧生产 学者倡再工业化促进就业


Hong Kong’s axing from Heritage Foundation’s Economic Freedom rankings a gift that will keep on giving

Market failures related to global finance and Covid-19 should have made policymakers realise that to function well, free markets require sound rules. Hong Kong needs to consider how it can achieve a better state-market balance in a post-pandemic world rather than cling to outmoded ideas of the free market.

再工业化 ‧ 一 | 正视「再工业化」错误 带领「香港制造」重生


Rebooting Hong Kong’s economy

Decimated by the triple whammy of lingering trade frictions between the world’s two largest economies, the COVID-19 pandemic and a deglobalization trend, Hong Kong’s economy shrank a record 6.1 percent in 2020.

RCEP启航了 香港怎么办?



香港大學中國與全球發展研究部副總監鄧希煒,今日出席《香港01》2020 經濟高峰論壇時表示,香港四大支柱之中,只有金融持續上升,但金融業只能為香港提供10%的就業機會,且無法推動其它行業的發展,如初創及再工業化等等。

美股賀拜登履新 新高後有更高


拜登上任美股上漲 學者指市場不確定性減少


中国外贸全球第一 V 型反转屡创新高良好势头将持续



2020年11月15日,东盟10国加上中国、日本、南韩、澳洲和新西兰共15国签署《区域全面经济伙伴协议》(Regional Comprehensive Economic Partnership;简称RCEP)。稍后待各国于国会通过后,协议将会是有史以来最大的自由贸易协议,涵盖全球三分之一的人口(约23亿)及本地生产总值(GDP),预计到了2030年,GDP更将占全球的一半。




回望2020年,在新冠肺炎疫情阴霾下,全球经济疲弱。而中国作为最早令国内疫情受控的国家,成为全球唯一实现经济正增长的主要经济体。  在美国发展了21年的港人邓希炜于中美贸易战翌年决定回到本港工作,担任香港大学经济学教授。邓希炜接受大公报专访时表示:「在此时回来,看好内地和香港未来发展,也希望凭借自己在美国的经验,为香港作出贡献。」说到美国对中国实施多项制裁,包括限制高科技出口中国,他认为这反而促进中国高端科技研发。

建言獻策/香港再出發 急需再工業化


經濟轉型/港發揮優勢 融入國家雙循環


鄧希煒料拜登續遏制中國 中美仍有合作空間


西方迫中國開放金融 香港恐失中介地位

無論誰主白宮,中美友好關係都不復返。其中,最令港大教授鄧希煒擔心的,莫過於香港這位「金融中介人」的處境,並呼籲各界把握時機,及早進行經濟轉型。 民主制度無法選出最優秀的人,起碼能夠趕走不合格的人──抱着「特朗普以外任何人」(Anyone but Trump)的美國人,用選票體現了這句經典對白。然而,儘管兩黨鬥得難分難解,美國朝野內外還是達到一大共識──就是「沒有人再敢提中美友好,否則是自殺行為!」港大經濟及工商管理學院經濟學教授鄧希煒向本刊表示。

西方围堵中国 香港再工业化契机

民主制度无法选出最优秀的人,起码能够赶走不合格的人──抱着「特朗普以外任何人」(Anyone but Trump)的美国人,用选票体现了这句经典对白。然而,尽管两党斗得难分难解,美国朝野内外还是达到一大共识──就是「没有人再敢提中美友好,否则是自杀行为!」港大经济及工商管理学院经济学教授邓希炜向本刊表示。

專訪港大教授鄧希煒:赴美廿年初回流 寄望香港「再工業化」


施政報告2020|螞蟻觸礁啟示——理性投資獨角獸 大膽監管新產業


鄧希煒教授:香港經濟轉型百年難得機遇 重新考慮再工業化發展


美國大選2020|特朗普VS拜登 誰人當選最「有利」香港?


美國大選2020|選戰之後 香江再定位


特朗普連任對華態度或改變 鄧希煒:不排除有人軟化|財經加零一


美國大選2020|大選戰況激烈 港大鄧希煒:郵遞選票是關鍵





編者按:上個世紀,香港憑藉自由港優勢,在大國狹縫中實現經濟騰飛。如今新冷戰襲來,香港遭美國制裁,關稅可能面臨調整,Made in Hong Kong的標籤也行將消失。香港製造還可以振興嗎?端傳媒深入三家香港企業,從產業角度透視香港問題。此項目端傳媒亦與日本放送協會(NHK)合作,為NHK提供調研、採訪和攝影,雙方根據素材獨立完成影片製作。NHK作品 The “Made in Hong Kong” Dilemma已於10月30日於NHK World頻道播出。

Hong Kong must reindustrialise to reinvent its economy

With neighbour Shenzhen poised to pull ahead, Hong Kong needs an economic transformation of its own: it must end its reliance on the financial industry. The city should focus on creating rewarding, good-paying jobs that benefit more than a few by upgrading its workforce and developing a new manufacturing sector based on science and technology.


Opinion piece by Professor Heiwai Tang, Professor of Economics.

Hong Kong’s third economic transformation – What are we waiting for?

The article 《香港第三次經濟轉型,還等什麼?》 was originally published in Hong Kong Economic Journal column 「龍虎山下」

港大鄧希煒撐再工業化 「香港本身有工業DNA」|財經加零一

Professor Heiwai Tang, Professor of Economics, was quoted by HK01.

【競爭力.三】香港失落最自由經濟體地位 是好事還是壞事?

Professor Heiwai Tang, Professor of Economics, was interviewed by HK01 about HK’s ranking as a free economy.

Beware of the resurgence of populism in the post-pandemic world

民粹主義近年在多國抬頭,與當前全球經濟和政治變局有密不可分的關係,若要分析國際政經發展,必先理解近年民粹主義冒起的原因。 隨着2008-09年全球金融風暴過後,民粹迅速在各地崛起。在美國,繼茶黨運動在2010年興起,特朗普隨後標榜「美國優先」而在2016年當選總統。此外,法國有右翼政黨國民陣線崛起,英國則有獨立黨在不同選舉中取得佳績;就連一向少受民粹運動影響的瑞典和德國,也漸見到民粹黨派興起。至於發展中國家,委內瑞拉總統查韋斯(Hugo Chavez),厄瓜多爾總統科雷拉(Rafael Correa)、玻利維亞總統莫拉萊斯(Evo Morales),均着眼於資源再分配政策;而極右翼民粹主義領袖,則包括巴西總統博爾索納羅(Jair Bolsonaro)和菲律賓總統杜特爾特(Rodrigo Duterte)。2016年英國公投後脫歐,以及2018年展開的中美貿易戰等,都在此形勢下產生,世界經濟與秩序亦相繼出現不穩定性。

Coronavirus yet another twist in trade war

The long-term rivalry between the US and China has since the election of President Trump manifested itself in the form of an economic conflict between the world’s greatest powers. With geopolitical flux now the new normal, Hong Kong citizens’ struggle to maintain their freedoms saw US politicians jump on the bandwagon in 2019; now the COVID-19 is the latest issue that both the US and China are dragging into the general trade war. Who has the upper hand?

Can globalisation survive coronavirus or will the pandemic kill it?

Professor Heiwai Tang, Professor of Economics, was interviewed by SCMP on the future of globalisation after the pandemic

Evolution of globalisation: development and reflections over the past 2 centuries


Coronavirus: What’s going to happen to China’s economy?

Professor Heiwai Tang, Professor of Economics, was interviewed by SCMP on China's economy amid coronavirus

Coronavirus cases are dropping – should HK reopen the economy?

Podcast of Professor Heiwai Tang, Professor of Economics, on Hong Kong stimulus package and whether the government should start reopening the economy

“What will the new normal look like when the pandemic ends?”

Professor Heiwai Tang, Professor of Economics, was interviewed by TVB Pearl on the economic impacts of COVID-19.

【未來基金.下】「港版淡馬錫」 會否淪為「四不像」?

Professor Heiwai Tang, Professor of Economics, was interviewed by HK01 on Future Fund.

【未來基金.上】方向不明 目標不清 三問「港版淡馬錫」

Professor Heiwai Tang, Professor of Economics, was interviewed by HK01 on Future Fund.

Prof. Heiwai Tang: A u-shaped recovery is expected for the China’s economy

Professor Heiwai Tang, Professor of Economics, was interviewed by BBC World News on the impacts of COVID-19 to the economy of China.

How coronavirus is changing Beijing’s economic strategy; what the coming collapse in global trade means

Podcast by Professor Heiwai Tang, Professor of Economics, on the business environment when the pandemic is over.

Rebooting Chinese manufacturing is necessary, but yet to offset global economic downturn


Coronavirus could leave the world an even more unequal place. That would be a real disaster

Article by Professor Heiwai Tang, Professor of Economics, on the business environment when the pandemic is over.

The New Global Economic Reality in Sino-US Game

Interview of Professor Heiwai Tang, Professor of Economics, on US-China trade war

China risks a Covid-19 second wave

“With millions of workers heading back to the factories, dining in the shared cafeterias and sleeping in the shared dormitories, the risk of a second wave of infections could be substantial,” said Professor Heiwai Tang, Professor of Economics.

Why the coronavirus is a ticking time bomb in the US: a costly and inefficient health care system

Article by Professor Heiwai Tang, Professor of Economics, on US's costly and inefficient health care system in dealing with COVID-19.

China’s return to work is good news for the economy – but it also risks unleashing a second wave of Covid-19 infections

Article by Professor Heiwai Tang, Professor of Economics, on COVID-19 outbreak and Chinese economy.

Coronavirus outbreak slashes China’s greenhouse gas emissions

Interview of Professor Heiwai Tang, Professor of Economics, on COVID-19 outbreak and Chinese economy.