A Bridge on Economic Issues between China and the World
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The Rise and Fall of Imperial China
Yuhua Wang, Dec 21, 2022Why do some states stay intact for centuries, while others fall relatively soon after they are founded?
Book Synopsis The Clash of Capitalisms? Chinese Companies in the United States
Ji Li, Oct 31, 2018Chinese companies in the United States are generally adaptive to their host country’s legal and regulatory institutions. However, the adaptation varies in accordance with the companies’ ownership structure and the institutional distance between the two countries across different subject matter areas.
Economic Growth — in the World and in China
Robert J. Barro, Jul 12, 2017Convergence forces suggest that China’s per capita GDP growth rate will decline gradually from around 7% per year to the world’s historical average of 2%. In the past, this convergence tendency was more than offset by China’s opening to markets, improved legal institutions and business regulations, increased investment rates, higher life expectancy, and reduced fertility—but the convergence force will ultimately dominate.
Subways and Road Congestion
Yizhen Gu, Chang Jiang, Junfu Zhang, Ben Zou, May 06, 2020In our recent work (Gu et al., 2019), we combine a difference-in-differences approach with a novel road speed dataset from Baidu Maps to provide evidence on the effect of subways on road congestion. We explore heterogeneous effects with respect to road characteristics. Guided by a conceptual framework of transportation mode choices, we shed light on the welfare impact of subways, using Beijing as an example.
Industry/Policy View The Growth and Geography of RMB Trading
Yin-Wong Cheung, Robert N. McCauley, Chang Shu, Jan 08, 2020The 2019 Bank for International Settlements Triennial Foreign Exchange Survey reveals two different trends in RMB trading in 2016–2019 compared to the previous three year interval—a slowdown both in growth and in geographic diffusion. Regarding the first trend, we argue the rapid growth of RMB trading into 2014 relied on a gradual appreciation trend that encouraged a one-sided RMB internationalization. Global trading in RMB resumed its growth in 2017...
