The fact that increasing importance is being attached to foreign trade under the new Chinese leadership must not be mistaken for automatic expansion of the importation of foreign goods. Foreign trade will, as before, have only a complementary function in the economic development of China. For...

Over the last two decades, income disparities between EU member states tended to decline, particularly before the financial crisis. While Central and Eastern Europe caught up with the EU average, Southern Europe fell behind after 2009. Catch-up growth in both peripheries relied on nominal...

After an initial take-off during the first eight years following unification, the Eastern German economy started to stall and regress to its old growth path of the 1950s and 1960s. The initial quick convergence only compensated for the dismal stagnation that the expropriation and concentration...