Reports

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 flows...

Some Members of Congress charge that China’s policy of accumulating foreign reserves (especially U.S. dollars) to influence the value of its currency constitutes a form of currency manipulation intended to make its exports cheaper and imports into...

In recent years, the People’s Republic of China (PRC) has bolstered its diplomatic presence and garnered international goodwill in the developing world through financing infrastructure and natural resource development projects, assisting in the...

The bilateral relationship between the U.S. and the People’s Republic of China (PRC) is vitally important, touching on a wide range of areas including, among others, economic policy, security, foreign relations, and human rights. U.S. interests with...

The automobile industry, a key sector in China’s industrialization and modernization efforts, has been developing rapidly since the 1990s. In recent years, China has become the world’s fastest growing automotive producer. Annual vehicle output has...

North Korea has created a number of foreign policy dilemmas for China. The latest round of provocations makes Beijing’s balancing act between supporting a traditional ally and responding to its dangerous brinkmanship more difficult, especially when...

This paper discusses the potential macroeconomic implications for Hong Kong SAR of accommodative monetary policy in the United States. It shows, through model simulations, that a resumption of the credit channel in Hong Kong SAR has the potential to...

Since 2003, large numbers of Chinese citizens have been held incommunicado for days or months in secret, unlawful detention facilities. These "black jails" are housed in state-owned hostels, hotels, nursing homes, and psychiatric hospitals...

The Chinese pension system is highly fragmented and decentralized, with governance standards, pension fund management practices, their regulation and supervision varying considerably both across the funded components of the Chinese pension system...

The United States and China are the world's largest greenhouse gas emitters. Collaboration between the two nations, therefore, offers the greatest opportunity for achieving meaningful reductions in global greenhouse gas emissions. The time is...

To avoid the worst consequences of global warming, the world must limit average temperature increases by significantly reducing carbon emissions by 2050. Achieving the urgently needed emission reductions will require efforts beyond first-resort...

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...

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,...

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...

Financial authorities in East Asia have adopted a variety of foreign exchange rate policies, ranging from Hong Kong’s currency board system which links the Hong Kong dollar to the U.S. dollar, to the “independently floating” exchange rates of Japan...

Human rights has been a principal area of U.S. concern in its relations with the People’s Republic of China (PRC), particularly since the violent government crackdown on the Tiananmen democracy movement in 1989. Some policy makers contend that the U...

Recent changes to China's financial system, in particular ongoing interest rate liberalization, gradual movement toward a more flexible exchange rate regime, and rapid development of capital markets, have changed substantially the environment...

This is a report on the performance of two highway projects in China which were financed by a loan from the World Bank. The Tri-Provincial Highway Project, which links Gansu, Ningxi, and Inner Mongolia, and the Hubei-Xiaogan-Xiangfan Highway Project...

In 1979, official U.S. relations with Taiwan (the Republic of China) became a casualty of the American decision to recognize the government of the People’s Republic of China (PRC) as China’s sole legitimate government. Since then, U.S. unofficial...

Over the past several years, China has enjoyed one of the world’s fastest growing economies and has been a major contributor to world economic growth. However, the current global financial crisis threatens to significantly slow China’s economy...