During Asia’s financial crisis, the attention of policymakers was focused on China’s exchange rate policy. Post-crisis, this interest has increased further due to China’s growing influence in world trade and investment. However, the process of policy making in China is still opaque,...

Following the standard industry-of-origin methodology to measure production-side purchasing power parities (PPPs), this study for the first time provides a set of unit value ratios (UVRs) of manufacturing products between China, Japan, Korea and the US, based on which it derives PPP estimates...