43 research outputs found
Evaluating a Potential US-China Bilateral Investment Treaty: Background, Context and Implications
[Excerpt] This paper, prepared by the Economist Intelligence Unit for the US-China Economic and Security Council, summarises the context, current discussions and implications of a potential US-China bilateral investment treaty (BIT). The paper is organised in six sections:
I. Existing US BITs
II. China’s current BITs with other countries
III. The potential US-China BIT
IV. Major regulatory and transparency issues
V. Implications for the US economy
VI. Interviews
Simply defined, a BIT is a treaty between two countries designed to promote and protect investments between the two signatory states. A BIT provides investors with a safer and more transparent investment environment by guarding against the risk of expropriation by the host state. Many countries, especially the larger economies, sign BITs with their main trading partners, both to ensure that companies from their country receive proper protection when they make investments abroad and to ensure that their rights can be protected and enforced through binding international arbitration
China\u27s Industrial Policy and its Impact on U.S. Companies, Workers and the American Economy
[Excerpt] China’s industrial policies have had a profound effect on the U.S. economy. The trade deficit with China in goods reached 72.7 billion trade deficit with China in advanced technology products
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Why RMB should be more flexible
Purpose – This report examines the recent developments and trends relating to the Chinese government’s
policy actions and the key issues that determine the choice of exchange rate regime in China. An up-to-date
“stock-take” of the economic indicators is conducted to determine what is suitable for China in light of the
rapidly evolving nature of the world economy and trading environment. This paper discusses the role of
economic development, trade competitiveness, capital flow, foreign exchange reserve, and RMB
internationalization in the determination of the RMB exchange rate regime.
Design/methodology/approach – This research uses an inductive approach to gain a fine-grained
understanding of the complex, multifaceted aspects of China’s exchange rate policy. A combination of
statistical analysis, including basic descriptive statistics, trend analysis, and a correlation study are used
to explore the association between various indicators and their implications. The report also draws on
analysis of a broad range of data sources and the work of numerous researchers and research
institutions.
Findings – A more flexible exchange rate regime can play a complementary role towards rebalancing the
Chinese economy by raising the buying capacity of families, rebalancing growth towards domestic
consumption, and reducing reliance on export. China’s price elasticity of the demand for exports was
relatively low that the appreciation of the Chinese currency has almost no influence on optimizing China’s
trade balance. A more flexible two-way flow in RMB would be suitable under the current cash flow scenario in
China. Reduced intervention will facilitate further adjustment in reserves. Lastly, in the early stage of RMB
internationalization, flexibility in the exchange rate is one of the factors that influences its growth prospect as
a reserve currency.
Research limitations/implications – The findings and conclusion are derived based on the latest
empirical information, statistical evidence, and economic theory. This inquiry does not build on a theory, and
aims to neither verify a theory, nor test hypotheses. Rather, it aims to demonstrate, assess, and explain
significant roles that various economic factors play in shaping the future exchange rate regime of China.
Originality/value – This paper presents the rationale behind a more flexible two-way exchange rate, by
assessing the latest empirical data and theoretical explanation that support such a move.
Keywords Foreign exchange, Financial markets and the macroeconom
China's Industrial Policy and its Impact on U.S. Companies, Workers and the American Economy
[Excerpt] China’s industrial policies have had a profound effect on the U.S. economy. The trade deficit with China in goods reached 72.7 billion trade deficit with China in advanced technology products.ChinaIndustrial_Policy09_03_24_trans.pdf: 2166 downloads, before Oct. 1, 2020
Report to Congress of the U.S.-China Economic and Security Review Commission.
Mode of access: Internet.Electronic serial mode of access: World Wide Web via the U.S.-China Economic and Security Review Commission web site
China as an emerging regional and technology power : implications for U.S. economic and security interests : hearing before the U.S.-China Economic and Security Review Commission, One Hundred Eighth Congress, second session, February 12-13, 2004.
G.P.O. sales statement incorrect in publication.Distributed to some depository libraries in microfiche.Shipping list no.: 2004-0152-P."Printed for the use of the U.S.-China Economic and Security Review Commission."Cover title.Includes bibliographical references.Mode of access: Internet
Eclipsing adaptation : the translation of the US MBA model in China
The aim of this article is to explore how business schools in China have acted upon calls for greater adaptation of the US MBA model. Scandinavian institutionalism’s concept of translation as a process was employed to make sense of how such normative demands for translation have been accommodated across five case studies. Our findings demonstrate that the normative pressures for adaptation of the MBA on the basis of cultural relativism are not sufficient for significant adaptation. In contrast to other studies of the circulation of ideas and models we found that packaging changed slightly, but form and practice remained largely unchanged. Our conclusion is that the influence of market logic has eclipsed the normative calls for adaptation, resulting in the copying and adoption of the US MBA model