Making room for China in the world economy

Dani Rodrik 17 December 2009

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As it comes out of the crisis, the world economy faces two apparently conflicting demands. On the one hand, achieving global macroeconomic stability and preventing a protectionist backlash will require that we avoid large current account imbalances of the type that the world economy experienced in the run-up to the crisis. On the other hand, returning to rapid growth in the developing nations will require that they resume their conquest of global market share in tradable goods.

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Topics:  Global economy

Tags:  exchange rates, global imbalances, China

Will the BRICs (read: China) really become the new global growth engine?

Markus Jäger 26 September 2009

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The BRIC countries’ economic growth is holding up relatively well.

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Topics:  Global economy

Tags:  China, BRICs, global growth

Has China de-industrialised other developing countries?

Adrian Wood, Jörg Mayer 28 July 2009

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The least disputable of China’s impacts on the world has been the explosion of studies of China’s impact on the world.1 Many such studies have tried to measure the effects on trade or output in other countries. They have reached widely varying conclusions by a wide variety of methods: inspection of trade data (e.g. Lall et al. 2005; Mesquita Moreira, 2007; Kaplinsky and Morris, 2008); revealed comparative advantage calculations (Lederman et al., 2008); gravity models (e.g.

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Topics:  Development International trade

Tags:  China, manufacturing, industrialisation

A simpler way to solve the “dollar problem” and avoid a new inflationary cycle

Domingo Cavallo, Joaquín Cottani 12 May 2009

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When China’s Premier Wen Jiabao recently expressed concerns about the future of the US dollar, the currency in which most of his country’s official reserves are denominated, his remarks provoked contrasting reactions among US economists.

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Topics:  International finance

Tags:  inflation, China, dollar trap, US debt

The rise of “consumer cities” in China

Matthew E. Kahn, Siqi Zheng 14 April 2009

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China’s population is rapidly urbanising. The share of the population living in cities in China increased from 28% in 1990 to 44% in 2006. The annual real wage of an average urban worker in 2006 was four times higher than in 1990.

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Topics:  Development Environment

Tags:  China, pollution, cities, green amenities, environmental Kuznets curve

Currency “manipulation” and world trade: A caution

Robert W. Staiger, Alan O. Sykes 30 January 2009

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The Chinese yuan was pegged from 1994 until mid-2005 at 8.28 yuan to the US dollar. China shifted in 2005 to a policy of loosely pegging the yuan to a basket of major currencies. Since then the yuan has appreciated against the dollar, and the current yuan/dollar exchange rate stands at roughly 6.84. Over the same period, the yuan generally depreciated against the euro, falling from 10.06 in June 2005 to 10.79 in June 2008. With the recent financial crisis, however, the euro has depreciated and the yuan/euro exchange rate presently stands at 8.99.

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Topics:  Exchange rates International trade

Tags:  China, renminbi, Currency manipulation, yuan undervaluation

How can China help reduce climate policy costs?

Carlo Carraro, Valentina Bosetti, Massimo Tavoni 01 October 2008

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In parallel to the growing scientific consensus regarding climate change, the climate challenge has become a public policy priority and now ranks high on the political agendas of many countries. No longer treated as just an environmental issue, climate change control is often discussed by heads of state, who gave it top priority in recent G8 meetings and who commissioned and helped disseminate dedicated reports such as the Stern Review (2006).

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Topics:  Environment

Tags:  China, climate change, developing countries

Lessons in humility: Estimating currency misalignment

Menzie D. Chinn , Yin-Wong Cheung , Eiji Fujii 12 September 2008

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For years, various policy analysts and policy makers have asserted that the Chinese currency, the Renminbi (RMB), is substantially undervalued (Goldstein 2007). The observers in this camp generally point to the large and – until recently expanding – Chinese trade surplus as prima facie evidence in favour of this argument. The burgeoning foreign exchange reserves have only reinforced this view.

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Topics:  Exchange rates

Tags:  China, renminbi, undervaluation

The growth future – India and China

Arvind Subramanian 29 August 2008

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Can China and India sustain their current growth rates?

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Topics:  Development

Tags:  growth, China, India, reform

Chinese companies worldwide

Philippe Gugler 23 August 2008

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Some of the recent, high profile acquisitions of Chinese companies have become widely known. The acquisitions of IBM’s personal computer business by the Chinese Lenovo or MG Rover by Nanjing Automobile Group Corporation are famous examples. After all, we will soon see the first Chinese car company actually producing vehicles in Europe! Other outward investments of Chinese companies, such as investments in the natural resources industry in Africa, are known to the wider public as a phenomenon, but with few insights into the Chinese companies executing these investments.

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Topics:  Global economy

Tags:  China, foreign direct investment, multinational enterprises, China multinational enterprises foreign direct investment

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