“We Are Afraid to Even Look for Them”: Enforced Disappearances in the Wake of Xinjiang’s Protests

In the aftermath of the July 2009 protests in Xinjiang province, which according to the Chinese government killed at least 197 people, Chinese security forces detained hundreds of people on suspicion of participating in the unrest. Dozens of these detainees, and likely many more, have since "disappeared" without a trace. The Xinjiang protests marked one of the worst episodes of ethnic violence in China in decades, and were largely a response to the government's longstanding discriminatory policies toward the Uighur minority of that region. This report documents for the first time the enforced disappearances of at least 43 Uighur men and teenage boys who were detained by Chinese security forces in the wake of the protests. Human Rights Watch called on the Chinese government to immediately stop the practice of enforced disappearances, release those against whom no charges have been brought, and account for every person held in detention.

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Politics
Organization: 
Human Rights Watch

What Drives China's Interbank Market?

Interest rates in China comprise a mix of both market determined interest rates (interbank rates and bond yields), and regulated interest rates (lending and deposit rates), reflecting China's gradual process of interest rate liberalization. We argue, using a theoretical model and empirical analysis, that the regulation of key retail interest rates diminishes the ability of the market determined rates to act as independent price signals, or as benchmarks for use in asset pricing and monetary policy. Further interest rate liberalization should, therefore, strengthen the information conveyed by movements in interest rates, allowing for the better pricing of risk and capital.

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Sara Segal-Williams
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Economy

What’s the Damage? Medium-term Output Dynamics After Banking Crises

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, with no rebound to the pre-crisis trend. However, growth does eventually tend to return to its pre-crisis rate, with substantial crosscountry variation in outcomes. The depressed path of output typically results from reductions of roughly equal proportions in the employment rate, the capital-to-labor ratio, and total factor productivity. Initial conditions that are strongly associated with medium-run output losses include the short-run change in output, the occurrence of a joint banking-and-currency crisis, and a high precrisis level of investment. Short-run fiscal and monetary stimulus is associated with smaller medium-run deviations of output and growth from the pre-crisis trend.

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Topics: 
Economy