LOS ANGELES – Cathay Bank today announced the release of the 2020 Cathay Bank | UCLA Anderson Forecast U.S.-China Economic Report. This is the third year of the collaboration, which offers insights on the U.S. and China economies to enhance the bank’s ability to provide useful economic information to customers and the business community.
“Although the Phase One deal has been a reset and has thus far prevented the U.S. and China from engaging in a full-blown trade war, the rapidly spreading COVID19 pandemic casts a long shadow over the recovery of normal trade between the two countries,” the report notes. “Indeed, the global recession pushes the positive impact of Phase One out into 2021 at the earliest, and preoccupation with the pandemic will delay negotiations of a Phase Two deal for some time.”
Chang M. Liu, Cathay Bank President and COO, said the bank values the UCLA Anderson Forecast report as an informative and helpful resource for customers.
“We understand the challenges our customers are facing in 2020, and we are committed to supporting them with reference materials like this report,” he noted. “The UCLA economists have a wealth of knowledge to share.”
The 2020 Annual Economic Report focuses on the coronavirus pandemic and the Phase One trade agreement which covers seven subjects: intellectual property, technology transfer, food and agricultural products, financial services, macroeconomic policies and exchange rates, expanding trade, and bilateral evaluation and dispute resolution. The report includes economic facts relating to U.S. and Chinese imports and exports as well as macroeconomic performance.
“It continues to be an interesting time to use our expert econometric modeling and analytic techniques to develop our perspective on the U.S. and Chinese economies,” said Jerry Nickelsburg, Director at UCLA Anderson Forecast, who authored the report along with his colleague, William Yu, Economist. “We’re pleased that our collaboration with Cathay Bank allows us to share our unique expertise with its customers.”
The 2020 Annual Economic Report is available for download in English, Traditional Chinese and Simplified Chinese on the Cathay Bank website at https://www.cathaybank.com/about-us/insights-by-cathay/us-china-2020-annual-economic-report or on the UCLA Anderson Forecast website at http://www.anderson.ucla.edu/centers/ucla-anderson-forecast/projects-and-partnerships/cathay-bank/2020-annual-economic-report. Periodic updates to this report will be published throughout the year.
UCLA Anderson Forecast is one of the most widely watched and often-cited economic outlooks for California and the nation and was unique in predicting both the seriousness of the early-1990s downturn in California and the strength of the state’s rebound since 1993. More recently, the Forecast was credited as the first major U.S. economic forecasting group to declare the recession of 2001. Visit UCLA Anderson Forecast at uclaforecast.com.
About Cathay Bank
Cathay Bank, a subsidiary of Cathay General Bancorp (Nasdaq: CATY), offers a wide range of financial services through nine states in the U.S. as well as a branch in Hong Kong and representative offices in Beijing, Shanghai, and Taipei. Founded in 1962 to support Los Angeles’ growing Chinese American community, in the past half century the bank has expanded and grown with its customers, providing them with the tools and services they need to achieve their goals. Learn more at cathaybank.com. FDIC insurance coverage is limited to deposit accounts at Cathay Bank’s U.S. domestic branch locations.
