Xu Le

Lecturer, Department of Strategy and Policy, National University of Singapore Business School

Xu Le is a lecturer at the Department of Strategy and Policy at the National University of Singapore (NUS) Business School. She is scholar of regional and global economy with over ten years of research and educational experience. She received her PhD in Economics from the University of Manchester and her research interests include microeconomics, macroeconomics and game theory. She serves as the coordinator of the Business Economics specialisation in the department and conducts lectures on strategy of economics, global economy and managerial economics. She has also served as an economic consultant to some business entities in China and has rich knowledge about China’s economy and its business environment. 

Workers assemble an electric car at the VinFast electric automobile plant in Haiphong, Vietnam, on 7 April 2022. (Nhac Nguyen/AFP)

Should Beijing worry about the exodus of manufacturing from China to Vietnam?

It appears that Beijing is losing some of its factory orders with MNCs and investors putting their bets on Vietnam. But maybe it is a win-win situation: as China moves to transition its economy to advanced manufacturing, countries like Vietnam with a young and relatively cheap labour force could fill the gap.
A man walks along a street in the central business district in Beijing, China, on 18 April 2022. (Wang Zhao/AFP)

China’s unified national market will benefit ASEAN in the long run

The authorities are taking steps to solve the issue of the Chinese market being “big but not strong” by standardising rules and standards and unifying the national market. But local governments used to fighting for their region’s interest at the expense of the national interest may find the changes hard to swallow.
Ukrainian serviceman secures the site of a bombing at a shopping centre as Russia's invasion of Ukraine continues, in Kyiv, Ukraine, 21 March 2022. (Marko Djurica/File Photo/Reuters)

The impact of the Russia-Ukraine war on the Chinese economy

The ongoing Russia-Ukraine war has brought about significant impacts on the global economy. While some analysts think that China's economy will benefit from the war, NUS academic Xu Le points out that the situation is not clear-cut, as China will have to face hits to its exports, as well as rising energy prices and challenges to food security.
Young women look at panorama of Moskva River and Kremlin at a viewpoint in central Moscow, Russia, 22 March 2022. (Maxim Shemetov/Reuters)

Will de-dollarisation help China and Russia shape a new world order?

Russia and China have a common interest in being less reliant on the dollar in the face of sanctions or anticipated sanctions. But are they moving at the same pace and will their efforts be significant enough to achieve self-reliance and precipitate a sea change in the global economic order?
Digital signs display stock market information in the Central district of Hong Kong on 5 November 2021. (Isaac Lawrence/AFP)

HKEX a refuge for Chinese companies fleeing US stock exchanges?

Amid regulatory concerns and news of Didi Chuxing delisting from the New York Stock Exchange, it seems that the writing is on the wall for Chinese companies seeking overseas listings. Will the Hong Kong Stock Exchange be their natural refuge? The Hong Kong government has implemented reforms to woo new-economy innovative companies and investors, but will these measures be enough? NUS academic Xu Le has the details.
People walk along a street in Beijing, China, on 12 October 2021. (Noel Celis/AFP)

Is a zero-Covid policy adversely affecting China’s economic recovery?

In the face of some turbulence in China’s economic indicators lately, academic Xu Le looks at certain bright spots amid falling aggregate demand and aggregate supply for a realistic gauge of China’s economic prospects in the coming months.
People stand in front of an electronic display showing the Hang Seng Index in the Central district of Hong Kong on 26 July 2021. (Isaac Lawrence/AFP)

HK Stock Exchange to benefit from returning US-listed Chinese firms

With the recent tightening of regulations in China and the US, US-listed Chinese companies and those seeking to launch IPOs in the US will be faced with a path of obstacles. To save themselves further headaches and from being embroiled in US-China tensions, will they turn their attention to Hong Kong?
A woman walks past an Alibaba sign outside the company's office in Beijing, China, on 13 April 2021. (Greg Baker/AFP)

Blacklisted and fined: The end of Chinese tech companies' heyday?

In the aftermath of the US$2.8 billion fine imposed on Alibaba, Xu Le reflects that for Alibaba, this is no big shakes as the amount makes up only a small percentage of its revenue. However, in the larger scheme of things, industry players will be saying goodbye to unregulated days of wild growth. They too will have to grit their teeth and get ready for fiercer domestic competition amid a harsh external environment. Will this mean a slowdown in China's tech and internet sectors?
People gather to celebrate the arrival of the New Year near the Bund in Shanghai, China, 31 December 2020. (Aly Song/Reuters)

China expected to continue stellar economic performance in 2021

Despite the challenges of Covid-19, China registered 2.3% growth in 2020, the only major economy to do so. A combination of able pandemic containment efforts, expansion in industrial production and fixed asset investment, as well as prompt measures to help micro, small and medium enterprises brought them to this point. If this positive trajectory continues, China looks set to continue its remarkable rebound in 2021.