After decades of negligible outbound foreign direct investment (FDI), Chinese firms' outbound investment has reached significant levels in recent years, challenging international investment norms and affecting international relations. But China's outflows are poorly understood. Seen in context,...

China's accession to the World Trade Organization (WTO) would affect the fundamental economic interests of both the United States and China. American opportunities to export to and invest in China would increase significantly. The United States would continue to apply the same, normal tariffs it...

This year's biggest trade battle is the congressional vote over Permanent Normal Trading Relations (PNTR) with China. PNTR is the key US action required to ensure American access to China's market when China joins the World Trade Organization (WTO).

At the end of the twentieth century, the People's Republic of China faces stark trade policy choices. Market reforms implemented since 1978 have brought commercial strength and bright expectations for future prosperity. However, they have also brought China to the point where trading partners...

In this paper we use a multi-region computable general equilibrium model to analyze the impact of the Asian crisis thus far, highlighting the implications of possible future developments in Japan and China. The main conclusion is that depreciation of the yen would tend to have an adverse impact...

Economic performance in Japan--the world's second largest economy, the largest in Asia, and the world's largest creditor country--is going from bad to worse. Growth has essentially been flat since 1992, and the economy is now shrinking at an annualized rate of more than 3 percent. The OECD...

In this paper we examine three issues. The first is the path of China's nominal and real exchange rates since 1990. As it turns out, this is more complicated than is commonly assumed, with basic results exhibiting sensitivity to the exchange rate measure used. We conclude that while China did...

The World Bank began this decade talking of Asian miracles. It may enter the next one speaking of Asian depressions. After World Bank Vice President for Asia Jean-Michel Severino used the "d" word in May to describe the course of events in developing Asia, the organization was forced to come up...

China's outward foreign direct investment (OFDI) grew rapidly in the past decade, but flows to developed economies have been limited. Now China's direct investment flows to the United States are poised to rise substantially. This new trend offers tremendous opportunities for the U. S., provided...

The United States and China are at a turning point in their economic relationship. In the past, foreign direct investment (FDI) flowed predominantly from the “developed world†to the “developing world,†from countries such as the United States to those like China. Now,...