LOS ANGELES, Oct. 20, 2022 /PRNewswire/ — Cathay Bank announced the release of the Cathay Bank | UCLA Anderson Forecast U.S.-China Economic Report 2022 Fall Update. The update reviews the changes and trends in international trade, global supply chains, U.S. economic outlook amid inflation and rising interest rates, regional economic performance in the U.S., and the outlook for a slowing China economy.
Report authors UCLA Anderson Forecast director Jerry Nickelsburg and Forecast economist William Yu stated that the U.S. economy has been expanding, albeit more slowly, in the first half of 2022. In China, the real estate crisis and zero-COVID public health policy have become the heart of its current economic problems. Nevertheless, China remains the largest manufacturer and exporter in the world.
“Though decoupling between U.S. and China is happening with some speed in technology, it is happening possibly less rapidly in finance, and slowly in trade,” said Nickelsburg. “But they remain large and important and, barring an unexpected geopolitical event, will continue to be so over the next few years.”
“2022 marks our fifth year collaborating with UCLA Anderson Forecast. The data-driven forecasts provide insights to understand the economic development and trends,” said Chang M. Liu, Cathay Bank’s President and CEO.
The 2022 Fall Update is available for download in English, Traditional Chinese and Simplified Chinese on the Cathay Bank website or on the UCLA Anderson Forecast website.
About UCLA Anderson Forecast
UCLA Anderson Forecast (uclaforecast.com) 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. The UCLA Anderson Forecast was credited as the first major U.S. economic forecasting group to call the recession of 2001 and, in March 2020, it was the first to declare that the recession caused by the COVID-19 pandemic had already begun.
About Cathay Bank
Cathay Bank, a subsidiary of Cathay General Bancorp (Nasdaq: CATY), opened its doors in 1962 in Los Angeles to serve the growing immigrant community. Today, we operate over 60 branches across the U.S., with a branch in Hong Kong, and representative offices in Beijing, Shanghai, and Taipei. In 2022, we proudly celebrate our diamond jubilee. While much has changed over six decades, our pursuit and dedication has only grown stronger. Then, now, and always, we go above and beyond, so you can, too. 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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SOURCE UCLA Anderson Forecast
