Low-wage countries competition, intra-firm reallocation, and the quality content of French exports

Julien Martin, Isabelle Méjean, 11 March 2011

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In February 2011, China entered the “year of the rabbit” with the new status of second-biggest economy in the world. This symbolises the prominent role in production and trade China and other low-wage countries have acquired during the last two decades. The economic consequence of this new deal is one of the most discussed phenomena in developed countries.

Topics: Competition policy, International trade, Labour markets
Tags: China, exchange-rate policy, exports, France

Stop obsessing about global imbalances

Uri Dadush, Vera Eidelman, 6 March 2011

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The idea of “rebalancing” global demand – increasing demand in trade-surplus countries so as to lessen the world’s dependence on demand growth in the US and other trade-deficit countries – is once again in the spotlight.

Topics: Global economy, International trade, Macroeconomic policy
Tags: China, exchange-rate policy, Germany, global imbalances, US

Half a century of large currency appreciations: Did they reduce imbalances and output?

Helmut Reisen, Moritz Schularick, , Edouard Turkisch, 2 March 2011

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Over the past decade, several emerging market economies – China in particular – have run substantial and persistent current-account surpluses.

Topics: Exchange rates, International trade, Monetary policy
Tags: China, Currency manipulation, exchange-rate policy, US

The international monetary system: If it ain’t broke, don’t fix it

Uri Dadush, Vera Eidelman, 26 February 2011

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Reform of the international monetary system tops France’s agenda as G20 chair.

Topics: Global governance, International finance, Monetary policy
Tags: China, exchange-rate policy, International Monetary System, US

What the renminbi means for American inflation

Raphael Auer, 21 February 2011

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China’s recent inflation is turning heads (Raede and Volz 2011, Cavallo and Díaz 2011). At first thought, the recent rise of inflation in China seems to be reassuring news for US policymakers concerned with the trade deficit.

Topics: Exchange rates, International trade
Tags: China, exchange-rate policy, inflation, US

Chinese inflation, monetary policy and the dollar peg

J James Reade, Ulrich Volz, 18 February 2011

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China is grappling with rising inflation. Annual consumer price inflation reached a 28-month high of 5.1% in November (Financial Times 2010a). And even though inflation figures for December were a bit lower, at 4.6% (Financial Times 2011a), they still contained rising prices, especially of staple foodstuffs.

Topics: International trade, Monetary policy
Tags: China, exchange-rate policy, inflation, monetary policy

China’s dilemma: Higher inflation or deflation of exportables

Domingo Cavallo, Fernando Díaz, 17 February 2011

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The course of inflation in China in the second half of 2010 and the beginning of 2011 is leaving Chinese authorities with a difficult choice. Either they allow a more rapid pace of appreciation of the renminbi or they accept an inflation rate much higher than that in mature economies.

Topics: Exchange rates, Global economy, International trade, Macroeconomic policy
Tags: China, exchange-rate policy, global imbalances, inflation, Japan, US

The fog of currency war

Avinash Persaud, 16 February 2011

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One way to expose the economic mumbo-jumbo that is applied to the Chinese exchange rate by otherwise respectable economists is to look at it from the perspective of Germany and international trade.

Topics: Exchange rates, Global economy, International trade
Tags: China, Currency wars, exchange-rate policy, Germany, quantitative easing, US

Who’s afraid of the big bad dragon? How Chinese trade boosts European innovation

Nicholas Bloom, Mirko Draca, John Van Reenen, 3 February 2011

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Twin spectres are haunting Europe and the US – the growing economic power of China and fears about where the West’s own growth will come from after the crisis. This has been driven by the tremendous growth of imports from China, as shown in Figure 1 (see also Keller et. al 2010).

Topics: International trade, Productivity and Innovation
Tags: China, jobs, productivity, trade

Before the Great Divergence: The modernity of China at the onset of the industrial revolution

Jan Luiten van Zanden, 26 January 2011

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One of the big debates in economics is about the causes of the arguably most dramatic change in development trajectory in (recent) world history, the industrial revolution. 

Topics: Productivity and Innovation
Tags: China, economic history, Industrial Revolution, productivity, UK

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