A relatively new phase in China's reform since the Cultural Revolution is evidencing itself in the focus given to direct foreign and joint investment in large-scale manufacturing industries that yield increasing returns. The ongoing relative cheapness of the yuan at 6.78 to the dollar is...

The premise is that, as a member of the World Trade Organization, China's industrial trade practices are consistent with the principle of specialization in accordance with the principle of comparative advantage. Yet the trade reforms that were undertaken since the end of the Cultural Revolution...