UN DESA | DPAD | Development Policy Analysis Division

Global Economic Monitoring Unit

The Global Economic Monitoring Unit (GEMU) monitors global economic trends and contributes to UN reports, briefings and notes in the area of macroeconomic analysis. The Unit takes primary responsibility for the annual publication of the World Economic Situation and Prospects (WESP), a UN flagship publication jointly produced by DESA, UNCTAD and the five Regional Commissions. The WESP provides an overview of recent global economic trends and short-term prospects for the world economy as well as key global economic policy and development issues. The annual publication, and its mid-year update, serves as a point of reference for deliberations on economic and social issues taking place in various United Nations entities, including the General Assembly (GA) and Economic and Social Council (ECOSOC). GEMU's other key responsibility is collaboration with Project LINK, an international consortium of experts from approximately 60 countries and several international organizations on global modeling, forecasting and policy analysis.

Pingfan Hong, Chief

Chief, Global Economic Monitoring Unit

A Chinese national, Dr. Pingfan Hong joined the United Nations in 1989 and has since worked mostly in the areas of economic research and policy analysis, particularly global economic outlook, macroeconomic policies, and international policy coordination. He has contributed to the publication of the United Nations World Economic and Social Survey (WESS) and World Economic Situation and Prospects (WESP). He has also worked extensively with Project LINK in global modelling and forecasting.

Dr. Hong has also worked as an Officer in the State Planning Commission of China and as a Research Fellow and Assistant to Professor Lawrence Klein at the University of Pennsylvania.

Dr. Hong earned a Ph.D. in Economics from the University of Pennsylvania, a Dual Master in Computer Sciences and Management Sciences from Shanghai Jiao Tong University, and a Bachelor in Engineering from Wu Xi Institute of Light Industrial Technology. He is the World Bank McNamara Fellow of 1985.

His personal blog on economics (Chinese): http://blog.sina.com.cn/u/2629887620

List of Dr. Hong’s recent personal publications and working papers (in English or Chinese) include:

Selfless Seigniorage, Project Syndicate, 30 May 2013

Challenges and opportunities for emerging economies, People’s Daily, 29 May 2013

China’s interest rate challenges, Project Syndicate, 23 April 2013

Narrowing policy space worldwide, People’s Daily, 10 Jan 2013

The new features of the latest QE, China Securities, 26 Sep 2012

Challenges of interest rate liberalization for China's SOEs, Economic Reference 26 Jun 2012

The last step in China's liberalization of interest rates, Economic Herald 12 May 2012

Exploiting global seigniorage by developed countries through QE, People's Daily 03 May 2012

Comparative studies of financial reforms in China and the US, China Reform 13 Apr 2012

European economic integration at the cross-road, People's Daily, 14 Feb 2012

"Zero-sum" mentality does not help employment recovery in the US, People's Daily 30 Jan 2012

Strengthening policy coordination for supporting the global recovery, People's Daily 11 Jan 2011

Deep and complex changes in global geo-economy, People's Daily, 27 Dec 2010

A pragmatic view about international policy coordination, People's Daily, 18 Nov 2010

On the G-20's development programme, People's Daily, 02 Aug 2010

Two types of risks and the policy exit strategies, People's Daily, 22 Jul 2010

Challenges in estimating and forecasting macroeconomic trends, SSRN 01 Aug 2009

The need for international coordination of fiscal stimuli, People's Daily, 19 Jan 2009

Reforming the international financial system with a pragmatic approach, People's Daily, 15 Dec 2008

China's rise in the world geo-economy, Analytical Economics, 01 Dec 2008

A strategic turning point in policy response to the financial crisis, People's Daily, 13 Nov 2008

Concerted actions are needed to avert another Great Depression, People's Daily, 13 Oct 2008

How China could contribute to a benign global rebalancing, China & World economy, 01 Sep 2008

China's economic Prospects and the Sino-US Economic Relations, China & World Economy, 09 Mar 2006

Global Imbalances and the International Reserve System, SSRN 09 May 2005

The impact of higher oil prices on the global economy, SSRN 01 Dec 2004

Global Implications of the U.S. Trade Deficit Adjustment, UN/DESA Discussion Paper 01 Jul 2001
Unbalanced globalization with ineffective governance, Essay 02 Jan 2001

Import elasticity revisited UN/DESA Discussion Paper, 09 Sep 1999

Alternative policies for economic recovery in Southeast and East Asia, UNU/IAS, 07 May 1999

Determinants of investment and policy implications, SSRN 09 May 1995

International economic implications of the Uruguay Round: a LINK simulation study LINK working paper, 12 Sep 1994

"Fortress Europe" and Retaliatory Economic Warfare", in Protectionism and World Welfare, Cambridge University, 01 May 1993

Pingfan Hong
Chief, Global Economic Monitoring Unit
United Nations Secretariat
S-2522
New York, NY 10017
Tel: (212) 963 4701
Fax: (212) 963 1061
email: