Reports

The rise of China from a poor, stagnant country to a major economic power within a time span of only twenty-eight years is often described by analysts as one of the greatest economic success stories in modern times. From 1979 (when economic reforms...

This edition aims to highlight wildlife trade trends in threatened and at-risk wildlife from the past year, with an emphasis on the impact of China’s consumption on globally important biodiversity ‘hotspots.’ Surveys in 2007 found that while illegal...

As imports from the People’s Republic of China (PRC) have surged in recent years, posing a threat to some U.S. industries and manufacturing employment, Congress has begun to focus on not only access to the Chinese market and intellectual property...

Based on a survey that covers a stratified random sample of 12,400 firms in 120 cities in China with firm-level accounting information for 2002-2004, the authors examine the presence of systematic distortions in capital allocation that result in...

The People's Bank of China (PBC) has made great strides in modernizing its monetary policy frameworks, but their effectiveness will diminish as the sophistication of the economy increases. Empirical evidence supports maintaining a reference to...

This paper uses the standard one-sector neoclassical growth model to investigate why China's consumption has been low and investment high. It finds that the low cost of capital has been quantitatively an important factor. Theory predicts that...

The recent wave of foreign investment in China's banks and the prospects of further opening of the banking sector under the WTO agreement suggest that foreign banks are likely to play an increasingly important role in China. This paper takes...

America’s post-Cold War China policy was premised on the hope that multidimensional engagement with Beijing would result in a strong, rich, peaceful, and democratic China. Almost two decades later, America’s attitude toward China reflects the fear...

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...

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,...

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...