A Bridge on Economic Issues between China and the World
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Chinese Economic Growth Doesn’t Appear Overstated, but Its Heavy Reliance on Credit May Be a Cause for Concern
Hunter Clark, Jeff Dawson, Maxim Pinkovskiy, Xavier Sala-i-Martin, Jun 20, 2017Are China's official GDP growth number exaggerated? Hunter Clark, Jeff Dawson and Maxim Pinkovskiy from the New York Fed and Xavier Sala-i-Martin from Columbia University use satellite measurements of the intensity of China’s nighttime light emissions to proxy for GDP growth. Their estimate of Chinese GDP growth, since 2012, was never appreciably lower, and was in many years higher, than the GDP growth rate reported in the official statistics.
Book Synopsis How Reform Worked in China: The Transition from Plan to Market
Yingyi Qian, May 02, 2018The general lesson from this book is this: for a reform to be successful, it is important to use the universal principles, even if they are not enough by themselves, and it is equally important to find specific ways to implement the reform by fully incorporating the initial historical conditions as well as contemporary constraints. The perspective of reform provided by this book’s analysis on China can also be useful beyond China, precisely because it emphasizes that to make reform work, it is not enough to understand why reform works, but also how reform works.
China’s “Great Leap Forward” in Science and Engineering
Richard B. Freeman, Jun 20, 2017From "Made in China" to "Innovated in China" can occur only if China produces a large number of scientists and engineers. Richard B. Freeman of Harvard University documents China's "Great Leap Forward" in science and engineering in the past decades in the number of engineers and scientists, the number of scientific papers, patents and innovations.
Production Networks and Firm Value: Evidence from the US-China Trade War
Yi Huang, Chen Lin, Sibo Liu, Heiwai Tang, Mar 25, 2020This paper discusses the effects on the financial markets of the several rounds of tariff hikes during the 2018–19 US-China trade war. It illustrates that US firms that are more dependent on exports to and imports from China have lower stock prices around the announcement date, while the expectation of weakened Chinese import competition due to US tariffs plays an economically minimal role. Firms with indirect exposure to US-China trade through domestic supply chains also...
Industry/Policy View Assessing China’s Financial Risk: Evidence from the Stock Market
Hao Zhou, Haibin Zhu, Xiangpeng Chen, Jul 14, 2017VoxChina welcomes views from industry reports and policy reports.This piece summaries the views about China’s financial risk from - Hao Zhou, the PBC School of Finance at Tsinghua University, Haibin Zhu, J.P. Morgan and Xiangpeng Chen, the PBC School of Finance at Tsinghua University.
