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A study of the impact of labor market restructuring and foreign direct investment on the banking sector, using a dynamic general equilibrium model with a financial sector. Numerical simulations are performed using stylized Chinese data, and bank...

Investment has grown rapidly in China in recent years, reaching more than 40 percent of GDP. Despite good progress on bank and enterprise reforms, weaknesses remain that could contribute to inefficient investment decisions. Manufacturing,...

China and the United States have been aiming their nuclear weapons at each other for decades, but now—with the absence of a definitive enemy such as the Soviet Union—the United States has elevated China to fill the void to help justify modernizing...

The U.S. policy framework for Taiwan was laid down in 1979 when Washington severed official relations with the Republic of China (ROC) on Taiwan and instead recognized the People’s Republic of China (PRC) as the legitimate Chinese government. The...

Increased attention is being paid to assessments of the actual values of countries' real exchange rates relative to their "equilibrium" values as suggested by "fundamental" determining factors. This paper assesses the...

As of 1 October 2006, 102 states had ratified the Rome Statute, establishing the International Criminal Court to prosecute genocide. China is one of only seven nations to vote against. Based on the strong political support expressed for the Court...

This report summarizes a number of Amnesty International's human rights concerns in China—concerns which the organization is continuing to highlight as key areas for reform in the run-up to the Olympics. They are: the continuing use of the...

China’s system of Internet censorship and surveillance, popularly known as the “Great Firewall,” is the most advanced in the world. In this report, Human Rights Watch documents how extensive corporate and private sector cooperation—including by some...

Congress and the Bush administration continue to pressure China to allow its currency to appreciate against the U.S. dollar under threat of trade sanctions. Critics contend “currency manipulation” gives Chinese producers an unfair advantage against...

It is widely acknowledged that China’s financial system is deeply troubled. Its banks have very high nonperforming loan ratios and its stock market has lost 50 percent of its value since 2001 amidst a GDP growth rate averaging some 9 percent a year...

China’s much-praised tendency to save and invest over 40 percent of its GDP has become dangerous and destabilizing, both for China and the global economy. China’s avid savers expect to increase their wealth by forgoing current consumption. There are...

As China's economy becomes more market-based and continues its rapid integration into the global economy, having an independent and effective monetary policy regime oriented to domestic objectives will become increasingly important...

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’s leaders have...

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 by...

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. relations...

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 in...

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 party...

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 two...

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 the...

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 iron—...

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 antidumping...

Exchange rate protectionism is a subject much in the news these days, especially in regard to the actions of Japan and China in foreign exchange markets and in the financing of the U.S. current account deficit.

In recent months, discussions have been held within the European Union (EU) on the question of lifting the embargo on arms exports to the People’s Republic of China that was imposed on China on June 27, 1989. The prospect that the EU would lift its...

China's account surplus has increased sharply as a product of economic growth and manipulation of its undervalued currency. This paper argues that China's account surplus is actually higher than reports indicate. China’s monetary...

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.”...

This document, prepared by the China Network for Health Economics, WHO, TDR, and the Alliance - HPSR, is a product of the Health Policy Forum held in May 2004 in Beijing, with the participation of high-level policy-makers from central and provincial...

A major challenge for China’s policy makers is to determine how best to provide the necessary energy to fuel China’s extraordinary economic growth. The traditional approach has been to rely on increasing the supply of conventional energy resources,...

China’s rapidly aging population, strong economic growth, and high return on capital mean that a funded pension system would be more efficient than a state-directed system. Yet, there are many problems in implementing a new privatized pension system...

After many years of difficult negotiations, China, on December 11, 2001, become a member of the World Trade Organization (WTO), the international agency that administers multilateral trade rules. Under the terms of its WTO membership, China agreed...

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...