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The evidence of “hot money” clearly shows that China’s cumbersome system of capital controls is not as effective as officials claim. There is no doubt that the greater openness of China’s economy will certainly generate growing tensions with the...
Dr. Chang Ya-chung is a professor of political science at the prestigious National Taiwan University who carries a powerful message: America has lost touch with popular sentiment on Taiwan. Professor Chang leads a growing movement called the...
Substantial effort has been devoted to reforming China's banking system in recent years. The authorities recapitalized three large state-owned banks, introduced new governance structures, and brought in foreign strategic investors. However, it...
With China's share in global trade increasing rapidly, some argued in 2002-03 that China was exporting deflation to other countries as it was dumping cheap goods in mature markets. Later, others argued that China was sucking in commodities and...
China's growth record since the start of its economic reforms in 1978 has been extraordinary. Yet, this impressive performance has been associated with an increasing regional income disparity. The authors use a recently developed nonparametric...
The consequences of China’s financial repression are easy
to see. By suppressing two key macroeconomic prices—the
interest rate and the exchange rate—and by failing to privatize
financial markets and allow capital freedom, China...
Chinese economic liberalization largely stopped at the gates of the financial sector. Investment funds are channeled through state-owned banks to state-owned enterprises (SOEs), there are few investment alternatives, stock markets are dominated...
The economic rise of China and the growing network of trade and investment relations in northeast Asia are causing major changes in human, economic, political, and military interaction among countries in the region. This is affecting U.S....
In this paper, we examine returns in the Chinese A and B stock markets for evidence of calendar anomalies. We find that both cultural and structural (segmentation) factors play an important role in influencing the pricing of both A- and B-shares...
Like most countries around the world, productivity (including economic and all other development indicators) in China is very strongly linked to the health of its people. The ability to achieve the Government of China’s overall goal of “xiaokang...
Fundamental shifts underway in Asia could constrain the U.S. role in the multilateral affairs of Asia. The centrality of the United States is now being challenged by renewed regionalism in Asia and by China’s rising influence. While the United...
This 2005 report is the first in-depth look at the treatment of Chinese citizens who travel to Beijing to demand redress to their complaints of mistreatment by officials. While petitioning has long been in use in China, it is now on the rise; an...
Many are concerned that China’s currency is undervalued and that this injures the U.S. economy. The Chinese authorities say they are not manipulating their currency and they want to move as soon as possible to a market-based yuan. A new exchange...
Since its founding in 1949, the People’s Republic of China (PRC) has often been accused of manipulating the flow of information and prohibiting the dissemination of viewpoints that criticize the government or stray from the official Communist...
CNOOC, a subsidiary of state-owned China National Offshore Oil Company, lost to Chevron in a bid to acquire Unocal. This loss did not occur because of Chevron's lower bid, but rather because of U.S. Congressional intervention that blocked the...
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...
Over the past year, increasing attention has focused on China’s growing interest in Latin America. Most analysts appear to agree that China’s primary interest in the region is to gain greater access to needed resources—such as oil, copper, and...
The European Union (EU) is considering lifting its arms embargo on China, which was imposed in response to the June 1989 Tiananmen Crackdown. France, Germany, and other EU members claim that the embargo hinders the development of a “strategic...
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...
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