Alicia García-Herrero

Bruegel Senior fellow

Alicia García Herrero is a Senior fellow at Bruegel.

She is the Chief Economist for Asia Pacific at French investment bank Natixis, based in Hong Kong and is an independent Board Member of AGEAS insurance group. Alicia also serves as a non-resident Senior fellow at the East Asian Institute (EAI) of the National University Singapore (NUS). Alicia is also Adjunct Professor at the Hong Kong University of Science and Technology (HKUST). Finally, Alicia is a Member of the Council of the Focused Ultrasound Foundation (FUF), a Member of the Board of the Center for Asia-Pacific Resilience and Innovation (CAPRI), a member of the Council of Advisors on Economic Affairs to the Spanish Government, a member of the Advisory Board of the Berlin-based Mercator Institute for China Studies (MERICS) and an advisor to the Hong Kong Monetary Authority’s research arm (HKIMR).

In previous years, Alicia held the following positions: Chief Economist for Emerging Markets at Banco Bilbao Vizcaya Argentaria (BBVA), Member of the Asian Research Program at the Bank of International Settlements (BIS), Head of the International Economy Division of the Bank of Spain, Member of the Counsel to the Executive Board of the European Central Bank, Head of Emerging Economies at the Research Department at Banco Santander, and Economist at the International Monetary Fund. As regards her academic career, Alicia has served as visiting Professor at John Hopkins University (SAIS program), China Europe International Business School (CEIBS) and Carlos III University. 

Alicia holds a PhD in Economics from George Washington University and has published extensively in refereed journals and books (see her publications in ResearchGate, Google Scholar, SSRN or REPEC). Alicia is very active in international media (such as BBC, Bloomberg, CNBC  and CNN) as well as social media (LinkedIn and Twitter). As a recognition of her thought leadership, Alicia was included in the TOP Voices in Economy and Finance by LinkedIn in 2017 and #6 Top Social Media leader by Refinitiv in 2020.

Disclosure of interests

Declaration of interests 2024

Declaration of interests 2022

Declaration of interests 2021

Declaration of interests 2020

Declaration of interests 2019

Declaration of interests 2017

Declaration of interests 2016

Declaration of interests 2015

Featured work

Dataset

China economic database

Repository of what we consider to be the most relevant macroeconomic data for China and EU-China relations.

Alicia García-Herrero, Michal Krystyanczuk, Robin Schindowski, Théo Storella and Jianwei Xu
Podcast

US-China tech bifurcation

Compared to instant decoupling, bifurcation offers a more gradual process that requires clear understanding of the direction and speed of divergence.

Alicia García-Herrero and Giuseppe Porcaro
Podcast

China-India relations and their impact on Europe

India’s bi-lateral relations with China could forge the way for multipolar international system across the world.

Alicia García-Herrero, Jagannath P. Panda and Giuseppe Porcaro
Opinion piece

China’s real estate sector goes south

The demise of China’s real estate sector, pushed by developer defaults and mortgage boycotts, is a major risk for the Chinese economy.

Alicia García-Herrero
Podcast

China's rise in the Western Balkans

Mapping China’s strategic interests in the Western Balkans.

Alicia García-Herrero, Mira Milosevich-Juaristi and Giuseppe Porcaro
Podcast

China’s tales of the future

How science fiction is shaping China’s economics, politics and society.

Alicia García-Herrero, Guangzhao Lyu and Giuseppe Porcaro
Podcast

How has the pandemic affected the BRI?

How has the COVID-19 Pandemic reshaped the scope and ambition of China's Belt and Road Initiative?

Alicia García-Herrero, Xue Gong and Giuseppe Porcaro
Podcast

Is China bailing Russia out?

The mystery of China-Russia economic relations in the aftermath of Russia’s invasion of Ukraine and what it means for Europe.

Alicia García-Herrero and Giuseppe Porcaro
Podcast

War in Ukraine: China-Russia relations

A special episode of the Sound of Economics Live on China-Russia relations in the context of the Russian invasion of Ukraine.

Alicia García-Herrero, Giuseppe Porcaro and Elina Ribakova
Podcast

Unboxing the State of the Union 2021

In this Sound of Economics Live episode, Bruegel experts look at the State of the Union address delivered by Ursula von der Leyen, President of the Eu

Grégory Claeys, Maria Demertzis, Alicia García-Herrero and Giuseppe Porcaro
Podcast

The geopolitics of money

The current debate on currencies is driven by politics rather than economics.

Alicia García-Herrero, Michael Leigh, Giuseppe Porcaro and Paola Subacchi
Opinion piece

A silver lining for ageing Asia

An ageing population is generally bad news for growth prospects, but Japan and Taiwan offer important lessons.

Alicia García-Herrero
Podcast

The State of the Union going forward

In the first Sound of Economics Live episode after summer we look at the State of the Union address delivered by Ursula von der Leyen.

Alicia García-Herrero, Giuseppe Porcaro, André Sapir and Guntram B. Wolff
Podcast

REOPENING EUROPE - Reopening Future?

Imagining a society, an economy and politics cohabiting with the virus and eventually overcoming it.

Alicia García-Herrero and Giuseppe Porcaro
Opinion piece

Toward a smart Indian response to China

Rather than risking its soldiers' lives on the border, India should join 'middle power' economic coalitions to address China's behavior.

Alicia García-Herrero and Suman Bery
Podcast

China’s economy after COVID-19

The first country to be hit by the current pandemic, China has been at the forefront of the fight against COVID-19. What have been its impacts on the

Alicia García-Herrero, Huang Yiping and Giuseppe Porcaro
Blog post

Japanese economy: Déjà vu – but worse

It is difficult to imagine how Japan can undertake any major economic reform if it has taken five years to increase the consumption tax and has needed

Alicia García-Herrero
Podcast

Appellate Body Politic

This week, the WTO's Appellate Body, the dispute settlement body, became inoperational: it no longer has the necessary number of judges to render verd

Alan Beattie, Alicia García-Herrero and Guntram B. Wolff
Event

Bruegel Annual Meetings 2019

Bruegel's 2019 Annual Meetings will be held on 4-5 September and feature the launch of Bruegel's Memos to the New European Commission.

Podcast

Director’s Cut: A global trade triumvirate?

In this week’s Director’s Cut of ‘The Sound of Economics’ podcast, Bruegel director Guntram Wolff hosts a discussion with Bruegel fellows Alicia Garcí

Alicia García-Herrero, André Sapir and Guntram B. Wolff
Blog post

China cannot finance the Belt and Road alone

The One Belt One Road initiative holds great promise for the global economy, but will need a huge amount of finance. Initial presumptions that China w

Alicia García-Herrero
Opinion piece

China's rising leverage is a growing risk

Worries about the growth in China's leverage are on the rise. Is this growth in leverage sustainable? Alicia García-Herrero finds that the evidence is

Alicia García-Herrero
Event

Financing the Belt and Road Initiative

The Belt and Road initiative, recently embarked on by China, aims to improve cross-border infrastructure in order to reduce transportation costs acros

Podcast

Opportunities and challenges for EU-China trade relations

How can trade relations between the EU and China be strengthened? How can the current situation be improved, and what are the potential challenges to

Alicia García-Herrero, Pascal Lamy, Lawrence J. Lau, Giuseppe Porcaro and Jianwei Xu
Blog post

Brazil can learn from Spain: don't delay adjustment

Brazil’s economic crisis has much in common with Spain’s crisis from 2009 – 2012. The IMF and the global community must work together to ensure a stab

Guntram B. Wolff and Alicia García-Herrero
Blog post

Brazil: playing with fire

Rattled by political turmoil and in the midst of severe stagflation, Brazil is really ‘playing with fire’. Urgent measures are needed to reduce the fi

Alicia García-Herrero