This paper discusses the appropriate policy mix for China in the post crisis period. As is well known, China has achieved a remarkable economic growth rate over the last 30 years using an export-led growth strategy. To implement this strategy, the Chinese authorities have pegged their currency...

This paper surveys research on foreign direct investment (FDI) in East Asia. The pattern of FDI in the region has changed over time. Outward FDI from Asia began in earnest when Japanese multinational corporations (MNCs) shifted production to other Asian economies following the 60% appreciation...

This paper provides an analytical description of East Asian supply chains. The data indicate that they have become more and more centered on China. In a value-added sense, though, East Asia as a whole is running surpluses against the West. The paper then surveys evidence from a variety of...