UCLA Anderson Forecast | Cathay Bank U.S.-China Economic Report 2020 September Update
Highlights Tourism and Real Estate Trends amid COVID-19
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.
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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
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UCLA Anderson School of Management
Paul Feinberg – (310) 794-1215
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UCLA Anderson School of Management
SOURCE UCLA Anderson School of Management
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