the dramatic growth of high-potential entrepreneurship and venture capital in China. First, using comprehensive data on …-level economic indicators, we find that this effect was driven by country-sector pairs most similar to their counterparts in China …" businesses and technology pioneered by China, and that a system where only rich countries lead in innovation could limit …

We document the rise of China in offshore capital markets. Chinese firms use global tax havens to access foreign … capital both in equity and bond markets. In the last twenty years, China's presence went from raising a negligible amount of …

model's firm-level predictions by using confidential microdata from Japan. We study the response of Japanese MNC parents and … of their affiliates in China to an exogenous change in China's openness to foreign direct investment (FDI). We find that … in industries where inward FDI was encouraged, Japan MNC's affiliates in China experienced increases in their employment …