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Carry Trade with Chinese Characteristics

Yi Huang, Ugo Panizza, Richard Portes, Jun 13, 2018

International borrowing by Chinese nationals has increased rapidly over the past 10 years. Some of this borrowing seems to be motivated by carry trade activities. Regulatory arbitrage may have played a role in this trend.

The Impact of the China Tire Safeguard

Sunghoon Chung, Joonhyung Lee, Oct 23, 2019

This column evaluates the impact of the China tire safeguard on the US tire industry. Contrary to claims made by the US government, we find that total employment and average wages in the tire industry were unaffected by the safeguard. This result is not surprising as we find that Chinese tires have been completely diverted to other exporting countries due to the strong presence of multinational corporations in the world tire market. On the other hand, US domestic tire prices increased by up to 10% during the safeguard period...

China’s Growing Presence in Tax Havens: Implications for Policy and Research

Chris Clayton, Antonio Coppola, Amanda Dos Santos, Matteo Maggiori, Jesse Schreger, Jul 12, 2023

Chinese firms are increasingly utilizing tax havens like the Cayman Islands, Bermuda, and the British Virgin Islands to raise large sums of capital from foreign investors, accounting for over 60% of total offshore equities by 2020.

Will robots replace workers? Lessons from China

Osea Giuntella, Yi Lu, Tianyi Wang, Aug 06, 2025

Robot adoption has skyrocketed in China in the last decade. New research finds that this exposure has led to a decline in employment and wages, influencing workers’ training and retirement decisions. How can developing countries prepare themselves for the artificial intelligence revolution?

Combating Cross-Border Externalities

Shiyi Chen, Joshua Graff-Zivin, Huanhuan Wang, Jiaxin Xiong, Sep 21, 2022

China implemented a pioneering policy in 2011, the Ecological Compensation Initiative (ECI), which establishes side payments between upstream and downstream provinces in the Xin’an River Basin.