In a speech at this year’s annual meeting of the World Economic Forum in Davos, Xi Jinping said choosing protectionism was akin to “locking yourself in a dark room.” But his rhetoric doesn’t square with reality, multinationals say.
Coincidence or not, China appears set to ease restrictions on foreign automakers and banks amid sustained pressure from U.S. President Donald Trump to open up its economy.
China is reversing course and loosening some financial restrictions after the yuan's appreciation in 2017.
President Xi Jinping is shaking up his economic team ahead of a major power shuffle as China battles rising financial risks at home and friction with its trading partners.
China’s has a new target amid its ongoing economic retaliation against South Korea—the country’s fifth-biggest conglomerate
On August 12, the International Monetary Fund (IMF) issued its annual report card on China’s economy and gave the country mixed grades, finding...
China needs West’s buy-in on stabilizing effects of its Silk Road project.
Two fictitious Chinese brothers are born in Tuanjiehu Maternity Hospital in the Chinese capital of Beijing. Let’s say the first was born already, in late 2015; his parents nickname him Laoda, meaning “oldest child.” That’...
The authors have—on the basis of a unique transaction dataset—analyzed the newest trends of Chinese direct investment in Germany and the E.U. The study is able to clearly establish that the new wave of Chinese investment offers exceptional...
In recent years, an upbeat note on the Chinese economy has been hard to find. Step forward Nomura, which on June 3 raised its GDP forecast for the second quarter from 7.1% to 7.4% and its full year forecast from 7.4% to 7.5%.
The upcoming meetings on economic reform are a chance for China to break free of the "middle income trap", the fate of countless states in Latin America and around the world which all failed to make the switch in time to a grown-up growth...
China’s economy grew by 7.8% in the third quarter, its fastest pace since the end of 2012. For most world leaders heading into a party conclave, this would be triumphant news, but now the debate is over how far Xi can and should go to...
China’s central government called for “unrelenting” implementation of its economic policies and reform measures to consolidate the nation’s recovery from a two-quarter slowdown and improve the quality of growth.
When debating China’s one-child policy, China’s domestic media and observers overseas mostly focus on its impact on the population structure or incidences of inhumanity involved in the implementation of the policy (such as...
China needs another round of “decisive measures” to make sure it continues its successful economic growth as its margins of safety are falling amid growing domestic problems, the International Monetary Fund said in its latest report....
While dozens of recent books and articles have predicted the near-certainty of China’s rise to global supremacy, this book boldly counters such widely-held assumptions. Timothy Beardson brings to light the daunting array of challenges that today confront China, as well as the inadequacy of the policy responses. Threats to China come on many fronts, Beardson shows, and by their number and sheer weight these problems will thwart any ambition to become the world’s “Number One Power.”
Anyone wanting a primer on the secret of China’s economic success need look no further than China Development Bank (CDB)—which has displaced the World Bank as the world’s biggest development bank, lending billions to countries around the globe to further Chinese policy goals. In China’s Superbank, Bloomberg authors Michael Forsythe and Henry Sanderson outline how the bank is at the center of China’s domestic economic growth and how it is helping to expand China’s influence in strategically important overseas markets.
China’s arrival on the world scene in the 1990s was the largest part of globalization. It brought many benefits worldwide: lower prices to Western consumers, large profits to multinationals, huge windfalls to commodity-rich countries, and employment and strong export growth to China. China’s emergence as a major global supplier and trader helped to create a boom which brought global growth with lower inflation and, for a time, an illusory stability, and also made China into the largest financer of the developed world.
As China continues to subsidize inefficient state enterprises on a massive scale, an increasing number of critics—domestic and foreign—are questioning whether current policies mark a rejection or corruption of the vision championed by reformers...
Commodities permeate virtually every aspect of modern daily living, but for all their importance—their breadth, their depth, their intricacies, and their central role in daily life—few people who are not economists or traders know how commodity markets work. Almost every day, newspaper headlines and media commentators scream warnings of impending doom--shortages of arable land, clashes over water, and political conflict as global demand for fossil fuels outstrips supply. The picture is bleak, but our grasp of the details and the macro shifts in commodities markets remain blurry.
More than two-thirds of the new airports under construction today are being built in China. Chinese airlines expect to triple their fleet size over the next decade and will account for the fastest-growing market for Boeing and Airbus. But the Chinese are determined to be more than customers. In 2011, China announced its Twelfth Five-Year Plan, which included the commitment to spend a quarter of a trillion dollars to jump-start its aerospace industry. Its goal is to produce the Boeings and Airbuses of the future.
Mainstream media and the U.S. government regularly target China as a threat. Rather than viewing China’s power, influence, and contributions to the global economy in a negative light, Ann Lee asks: What can America learn from its competition? Why did China suffer so little from the global economic meltdown? What accounts for China’s extraordinary growth, despite one of the highest corporate tax rates in the world? How does the Chinese political system avoid partisan rancor but achieve genuine public accountability?
U.S.-China economic ties have expanded substantially over the past three decades. Total U.S.-China trade rose from $2 billion in 1979 to $457 billion in 2010. Because U.S. imports from China have risen much more rapidly than U.S. exports to China...
Hong Kong’s economy was severely affected by the global financial crisis (through both trade and financial channels). A recovery is now underway, fueled by growth on the Mainland, supportive policies, and accommodative monetary conditions...
In May and June 2011, an International Monetary Fund staff team held discussions in Chengdu, Shanghai, and Beijing, which this report documents. The consultation examined China’s macroeconomic outlook, the potential for a property price bubble,...
Although it had a a lower income level than India in 1980, China's 2006 per capita gross domestic product stood more than twice that of India's. This paper investigates the role of the business environment in explaining China's productivity...
Two potent forces continue to influence Hong Kong SAR's prospects: the unprecedented monetary policy easing in the United States and the solid domestic recovery, in part driven by spillovers from the Mainland. While the substantial expansion of...
Since the start of economic reform in the early 1980s, China has experienced plenty of growth and inequality; per capita income has grown nearly 8 percent annually, while the Gini coefficient rose from 0.28 to 0.39. Using a rich longitudinal...
In the next few weeks, an event will take place in Beijing on a par with anything dreamed up by a conspiracy theorist. A group of roughly three hundred men and women will meet at an undisclosed time and location to set policies for a sixth of...
This is the staff report for the 2010 Article IV consultation, prepared by a staff team of the IMF, following discussions that ended on July 1, 2010, with the officials of the People's Republic of China on economic developments and policies. The...
Frictions in the U.S.-China relationship are nothing new, but they have intensified in recent months. This paper examines the U.S.-China economic relationship and some of its high-profile sources of friction, distills the substance from the hype...
Congress and the Executive Branch have historically identified the Asia Pacific Economic Cooperation forum (APEC) as potentially important in the promotion of liberalized international trade and investment in Asia, and possibly the rest of the...
Since the initiation of economic reforms and trade liberalization thirty years ago, China has been one of the world’s fastest-growing economies and has emerged as a major economic and trade power. The combination of large trade surpluses, FDI...
This paper investigates the medium-term behavior of output following banking crises, and its association with pre- and post-crisis conditions and policies. The authors find that output tends to be depressed substantially following banking crises...
Congress and the Executive Branch have historically identified the Asia Pacific Economic Cooperation (APEC) as an important organization to help promote the U.S. goal of liberalizing international trade and investment in Asia, and possibly the...
Based on a survey that covers a stratified random sample of 12,400 firms in 120 cities in China with firm-level accounting information for 2002-2004, the authors examine the presence of systematic distortions in capital allocation that result in...
China’s labor-intensive economic growth over the last two decades allowed the transfer of a vast amount of low-wage labor from both the rural sector and the declining state-owned enterprise (SOE) sector. That allowed China to grow by “walking on...
The Hong Kong Special Administrative Region (HKSAR) has recently recovered from an economic downturn and the SARS virus outbreak of 2002-2003 which crippled trade and tourism. There has also been a major change in top government personnel, with...
In stark contrast to its broader restraint in the face of anti-China protectionist pressure, the Bush administration has adopted an unabashedly bellicose approach to antidumping matters. The administration should take a hard look at its...
During the George W. Bush Administration, U.S. and People’s Republic of China (PRC) foreign policy calculations have undergone several changes. The Bush Administration assumed office in January 2001 viewing China as a U.S. ”strategic competitor...
On October 20-21, 2003, the Eleventh APEC Leader’s Meeting is to be held in Bangkok, Thailand. The theme for APEC 2003 is “A World of Differences: Partnership for the Future,” which is intended to bring together the best potential of all APEC...
On October 26-27, 2002, the Tenth APEC Leaders’ Meeting (summit) is to be hosted by Mexico in Las Cabos, Mexico. APEC 2002 is intended to send a clear message to the world that APEC has the ability to implement its initiatives while responding...
On October 20-21, 2001, the Ninth APEC Leaders’ Meeting (summit) was hosted by China in Shanghai. The theme for APEC 2001 was “Meeting New Challenges in the New Century: Achieving Common Prosperity through Participation and Cooperation” with the...
