Highlights the Influence of Current Events on U.S./China Relations and Economies

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, regional economic performance in the U.S., and how a slowing China economy could stall U.S. economic growth.

Report authors Jerry Nickelsburg, Director and Senior Economist at the Forecast, and William Yu, Economist at the Forecast, stated that the U.S. economy has been expanding, albeit more slowly, in the first half of 2022; and in China, the real estate crisis and zero-COVID public health policy 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 happing with some speed in technology, possibly less rapidly in finance, and slowly in trade,” said Nickelsburg, “but they remain large, important, and barring an unexpected geopolitical event, which 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 at https://www.cathaybank.com/about-us/insights-by-cathay/us-china-2022-fall-report-update or on the UCLA Anderson Forecast website at https://www.anderson.ucla.edu/about/centers/ucla-anderson-forecast/projects-and-partnerships/cathay-bank/2022-us-china-fall-economic-update.

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. 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 (uclaforecast.com).

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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