Reports

11.03.11

Foreign Direct Investment, Corruption and Democracy

Aparna Mathur, Kartikeya Singh
American Enterprise Institute for Public Policy Research
How do factors such as corruption perception and the level of democracy influence foreign direct investment to developing economies? The authors of this paper suggest that less corrupt countries and less democratic countries receive more foreign...

Reports

11.01.11

Internationalizing the Renminbi and China’s Financial Development Model

Robert N. McCauley
He Jianan
Council on Foreign Relations
Internationalization was a spontaneous outcome of the marketplace for the rest of the world’s major currencies, but China is breaking with history by making it official policy to steer the renminbi on a path toward reserve currency status. However,...

Reports

11.01.11

Historical Precedents for Internationalization of the RMB

Jeffrey Frankel
He Jianan
Council on Foreign Relations
The twentieth century saw the rise of the US dollar, the German mark, and the Japanese yen as international currencies. Now the Chinese renminbi is on a similar course toward reserve currency status, but its path is deviating from those of its...

Reports

11.01.11

The Future of International Liquidity and the Role of China

Alan M. Taylor
He Jianan
Council on Foreign Relations
Financial crises in the 1930s and 1970s showed the world that economic instability results when demand for international liquidity allows a small number of countries to run up massive debts in their own currencies. Named for the economist who first...

Reports

11.01.11

The Internationalization of the RMB: Opportunities and Pitfalls

Tatatoshi Ito
He Jianan
Council on Foreign Relations
China is making swift strides toward internationalizing its currency, the renminbi, but it must be careful when sequencing these changes. Without the proper reforms, wide-open Chinese financial markets would be vulnerable to massive flows of foreign...

Reports

11.01.11

What Drives CNH Market Equilibrium?

Peter Garber
He Jianan
Council on Foreign Relations
The recent rapid growth of the offshore renminbi market presents a puzzle for analysts of China's development strategy. By allowing renminbi to flow offshore uncontrolled before loosening government controls over internal financial markets,...

Reports

11.01.11

Catalyzing Social Investment in China

Brooke Avory, Adam Lane
BSR
In May 2008, an earthquake hit the western Chinese province of Sichuan, taking 80,000 lives and displacing millions of others. The earthquake inspired an increase in donations from RMB13.3 billion in 2007 to RMB76.4 billion in 2008 and highlighted...

Reports

10.25.11

The Asia-Pacific Economic Cooperation (APEC) Meetings in Honolulu: A Preview

Michael F. Martin
Peony Lui
Congressional Research Service
The United States will host the Asia-Pacific Economic Cooperation’s (APEC’s) 19th Economic Leaders’ Meeting in Honolulu, HI, on November 12 & 13, 2011. APEC was founded in 1989 to facilitate trade and investment liberalization in the Asia-...

Reports

09.30.11

China-U.S. Trade Issues

Wayne M. Morrison
Peony Lui
Congressional Research Service
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,...

Reports

09.28.11

Hong Kong’s Recovery from the Global Financial Crisis

International Monetary Fund (IMF)
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 imported...

Reports

09.28.11

Market Integration in China

Qingqing Chen, Chor-Ching Goh, Bo Sun, and Lixin Colin Xu
World Bank
Over the last three decades, China's product, labor, and capital markets have become gradually more integrated within its borders, although integration has been significantly slower for capital markets. There remains a significant urban-rural...

Reports

09.28.11

Growth Poles and Multipolarity

Jonathon Adams-Kane and James Jerome Lim
World Bank
This paper develops an empirical measure of growth poles and uses it to examine the phenomenon of multipolarity. The authors formally define several alternative measures, provide theoretical justifications for these measures, and compute polarity...

Reports

09.26.11

China’s Holdings of U.S. Securities: Implications for the U.S. Economy

Wayne M. Morrison, Marc Labonte
Peony Lui
Congressional Research Service
Given its relatively low savings rate, the U.S. economy depends heavily on foreign capital inflows from countries with high savings rates (such as China) to meet its domestic investment needs and to fund the federal budget deficit. The willingness...

Reports

09.21.11

China’s Assertive Behavior

Michael D. Swaine and M. Taylor Fravel
He Jianan
China Leadership Monitor
The authors of this essay examine Chinese assertiveness concerning U.S. political and military behavior along China’s maritime periphery. This topic inevitably also concerns Chinese behavior toward Japan, South Korea, and some ASEAN nations, given...

Reports

09.01.11

Managing Instability on China’s Periphery

Paul B. Stares, Scott A. Snyder, Joshua Kurlantzick, Daniel Markey, Evan A. Feigenbaum
He Jianan
Council on Foreign Relations
China’s growing global engagement and presence has increased the number of conceivable places and issues over which it could find itself at odds with the United States, but potential developments in the territories immediately adjacent to China...

Reports

08.30.11

Asian Alliances in the 21st Century

Dan Blumenthal, Michael Mazza, Randall Schriver, Mark Stokes, L.C. Russell Hsiao
American Enterprise Institute for Public Policy Research
Asia will become the epicenter of geopolitical activity in the 21st century and the budding U.S.-China security rivalry, conditioned by deep economic interdependence, will shape the region’s future. Perhaps the greatest benefactor of American policy...

Reports

08.04.11

U.S.-Taiwan Relationship: Overview of Policy Issues

Shirley A. Kan, Wayne M. Morrison
Peony Lui
Congressional Research Service
Taiwan today calls itself the sovereign Republic of China (ROC), tracing its political lineage to the ROC set up in 1911 on mainland China and commemorating in 2011 the 100th anniversary of its founding. The ROC government retreated to Taipei in...

Reports

08.01.11

Measuring the Economic Gain of Investing in Girls

Jad Chaaban and Wendy Cunningham
World Bank
This report discusses the economic impact of the exclusion of girls from productive employment in developing countries. The paper explores the linkages between investing in girls and potential increases in national income by examining three widely...

Reports

07.27.11

China’s Macroeconomic Rebalancing

International Monetary Fund (IMF)
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, the...

Reports

07.26.11

Toward a Healthy and Harmonious Life in China

Shiyong Wang, Patricio Marquez, and John Langenbrunner
World Bank
China’s 12th five-year plan (2011-2015) aims to promote inclusive, equitable growth and development by placing an increased emphasis on human development. Good health is an important component of human development, not only because it makes people’s...