A Bridge on Economic Issues between China and the World
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Taking Stock of Trade Policy Uncertainty: Evidence from China’s Pre-WTO Accession
George Alessandria, Shafaat Khan, Armen Khederlarian, Dec 04, 2019We propose a method to estimate the perceived likelihood of an uncertain increase in tariffs using the rise in trade flows in advance of the uncertainty resolution. We apply this framework to the uncertainty surrounding the U.S.’s annual renewal of China’s most-favored-nation (MFN) status in the 1990s. By matching the observed rise in imports in advance of U.S. Congress votes on the renewal, we find that the probability...
In Rural China, Gift-Giving Is an Increasingly Costly Competition
Erwin Bulte, Ruixin Wang, Xiaobo Zhang, May 01, 2019Gift expenditures grow swiftly in rural China and may adversely affect people's welfare. While gift-giving helps to maintain social status and connections, gift competition may create a predicament: people must spend more and more to "keep up with the Joneses." As a result, the escalating gift expenses crowd out spending on other important consumption and become increasingly burdensome to people in rural areas, particularly to the poor.
China’s Mobility Barriers and Employment Allocations
Rachel Ngai, Christopher Pissarides, Jin Wang, Mar 07, 2018Despite reforms to the hukou household registration system and the very large rural-urban migration experienced in China, rural households are still experiencing a risk of losing their land allocation if they migrate. We argue that this risk leads to an inefficient rental market with low rents and is an impediment to migration, with consequent over-employment in agriculture and low productivity.
China’s Health Insurance Evolution: Unpacking the Monumental Role of the NCMS
Jonathan Gruber, Mengyun Lin, Junjian Yi, Jul 31, 2024This article discusses that the New Cooperative Medical Scheme (NCMS) implemented in China from 2003 to 2008 significantly reduced mortality rates among rural residents and greatly enhanced national health outcomes, serving as a model for developing countries in achieving universal health coverage.
Resolving Zombie Firms is Key for Sustaining Growth in China
Yiping Huang, Yuyan Tan, Jun 28, 2017China's non-financial borrowing continued to expand though the government vowed to take deleveraging among its top five policy priorities in 2016. Current member of the People's Bank of China's Monetary Policy Committee, Prof. Yiping Huang of Peking University, and his co-author Yuyan Tan of Peking University argue that resolving Zombie firms is a key for China’s deleveraging. The rising share of Zombies firms in China after 2010 reduces the financial efficiency and brings in financial market risks. Dealing with the Zombie firms is now critical for sustaining China’s long-run economic growth and managing its financial stability.
