First Economic Outlook Event Takes Place in Southern California
LOS ANGELES, Jan. 23, 2019 /PRNewswire/ -- Cathay Bank today announced the release of the 2019 Cathay Bank | UCLA Anderson Forecast U.S.-China Economic Report. This is the second year of the collaboration, which provides insights on the U.S. and China economies as well as Forecast speakers headlining bank-presented economic outlook events, to enhance its ability to provide useful economic information to customers.
"Our first year of working with UCLA Anderson Forecast was extremely successful. The topic remains incredibly relevant and important," said Pin Tai, Cathay Bank CEO and President. "We're delighted to provide our customers with access to such current and future outlook on the two largest economies in the world."
The 2019 Annual Economic Report focuses on the complementary and competitive trade approaches of the U.S. and China. This report, prepared by the UCLA Anderson Forecast, includes economic facts relating to trade tensions and imbalances, as well as thoughts on economic growth, induced joint ventures, and technology transfers.
"This is an extremely interesting time to be using our expert econometric modeling and analytic techniques to develop our perspective on the U.S. and Chinese economies," said Jerry Nickelsburg, director, UCLA Anderson Forecast. "We're excited to be continuing our collaboration with Cathay Bank, sharing our unique expertise with its customers and audiences across the country."
The 2019 Annual Economic Report is available for download in English on the Cathay Bank website at www.cathaybank.com/us-china-economic-report or on the UCLA Anderson Forecast website at http://www.anderson.ucla.edu/centers/ucla-anderson-forecast/projects-and-partnerships/cathay-bank/2019-annual-economic-report. Column updates to this report are scheduled throughout the year, in the last month of each quarter. A Chinese language version will be forthcoming.
Along with the report's release, the first of eight Cathay Bank Economic Outlook Luncheons is taking place today in the San Gabriel Valley. Dr. William Yu, Economist of the UCLA Anderson Forecast, will focus his remarks on the U.S. and California economies, the real estate market, new tariffs and their impact, and a two-year forecast of the U.S.-China economies.
"The good news is that it is likely we will see a new trade deal between the U.S. and China by March to prevent 25% tariffs on $200 billion of Chinese goods." Yu said, "but we need to realize that, whether we like it or not, the U.S.-China relationship is at a transition from strategic engagement in the past to strategic competition in the future. We forecast the U.S. and L.A. economies continue to grow in 2019 while risks in Chinese and global economies increase."
About Cathay Bank
Cathay Bank, a subsidiary of Cathay General Bancorp (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.
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