UCLA Anderson Forecast | Cathay Bank U.S.-China Economic Report 2020 September Update

Rhea-AI Summary

The Cathay Bank and UCLA Anderson Forecast released their September 2020 U.S.-China Economic Report, focusing on tourism and real estate impacted by Chinese involvement. The report indicates a generally positive economic outlook despite ongoing risks stemming from geopolitical tensions and the pandemic. This collaboration highlights the ongoing economic relationship between the U.S. and China, with particular emphasis on trade patterns that suggest stability. Two virtual seminars were conducted to analyze these trends and provide insights to stakeholders.

Positive

• The report suggests a generally positive economic outlook amidst risk factors.
• Focus on U.S. tourism and real estate, where Chinese investment is significant.
• The collaboration provides valuable insights, enhancing stakeholder understanding.

Negative

• Ongoing geopolitical tensions pose risks to economic stability.
• Potential impacts of the COVID-19 pandemic on the economic recovery are acknowledged.

LOS ANGELES, Oct. 8, 2020 /PRNewswire/ -- The UCLA Anderson Forecast and Cathay Bank today released the September 2020 Cathay Bank | UCLA Anderson Forecast U.S.-China Economic Report. This marks the third year of the collaboration between the two institutions, offering insights on the U.S. and Chinese economies.

The report, "Rising Tensions, a Pandemic and the Chinese-Centric U.S. Real Estate and Tourism Markets," incorporates the political and economic events of the past three months and focuses on two industries in the U.S. with a heavy Chinese presence: tourism and real estate. The update conveys that the economic outlook remains positive amid various risk factors.

"The UCLA economists share their evaluation and insight on a quarterly basis based on unfolding situations and circumstances," said Chang M. Liu, Cathay Bank president and CEO. "This information is more helpful than ever in 2020, as our customers are looking for thoughtful assessments of how the economy is performing, the impact of COVID-19, and trends within industries and regions."

Cathay Bank hosted two virtual seminars for its customers earlier this month with the UCLA Anderson Forecast The events provide participants an opportunity to listen to expert analysis and pose questions to the report's authors, UCLA Anderson Forecast director and senior economist Jerry Nickelsburg and Forecast economist William Yu.

"The Chinese-American economic experience has always been closely associated with geopolitics," Nickelsburg said. "The unique aspect of our analysis is that it focuses on the economic data and the implications thereof, adding this analysis to the more general discourse on the spectrum of connections between the two countries. For example, much has been said about the unwinding of supply chains. We find that trade patterns suggest little change has in fact occurred."

The 2020 September update is available for download in English, Traditional Chinese and Simplified Chinese on the Cathay Bank website or on the UCLA Anderson Forecast website.

Register for upcoming 2020 Cathay Bank Economic Outlook Virtual Seminars or access recordings of prior events on Cathay Bank's website.

About UCLA Anderson Forecast

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.

Follow Us
@uclaanderson

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.

Media Contacts:

Rebecca Trounson – (310) 825-1348
rebecca.trounson@anderson.ucla.edu
UCLA Anderson School of Management

Paul Feinberg – (310) 794-1215
paul.feinberg@anderson.ucla.edu
UCLA Anderson School of Management

View original content to download multimedia:http://www.prnewswire.com/news-releases/ucla-anderson-forecast--cathay-bank-us-china-economic-report-2020-september-update-301148836.html

SOURCE UCLA Anderson School of Management

FAQ

What is the focus of the Cathay Bank September 2020 Economic Report?

The report focuses on the U.S. tourism and real estate markets influenced by Chinese presence.

What are the key findings of the UCLA Anderson Forecast and Cathay Bank report?

The report indicates a positive economic outlook despite risks from geopolitical tensions and the pandemic.

When was the Cathay Bank and UCLA Anderson Forecast report released?

The report was released on October 8, 2020.

How does the Cathay Bank report assess the impact of COVID-19?

The report acknowledges COVID-19's impact while maintaining a generally positive outlook.

What industries does the Cathay Bank report analyze?

The report analyzes the U.S. tourism and real estate industries.