This paper studies the trade of China in the past 150 years, starting from the first opening of China after the Opium … War. The main purpose of the paper is to identify what is (and was) China’s ‘normal’ level of foreign trade, and how these … levels changed under different trade regimes, from 1840 to the present. We present new evidence on China’s foreign trade …

How much of China’s recent economic performance can be attributed to market-oriented reforms introduced in the last two … Paper compares the integration of rice markets in China today and 270 years ago. In the 18th century, transport technology … pattern of interregional income in China is strongly linked to persistent geographic factors that were already apparent …

This Paper reviews the controversy over China’s exchange rate regime. Placing the issue in the context of the … literature on exit strategies, it argues that now is the best time for China to exit from its peg. Moving to a managed float …