Trade policies can promote aggregate e?ciency, but the ensuing structural adjustments generally create both winners and losers. From an incomes perspective, trade liberalization can raise GDP per capita, but rates of emergence from poverty depend upon individual household characteristics of...

Economic emergence of the People?s Republic of China (PRC) and India has fundamentally altered the economic landscape of Asia and its relation to the global economy. Using the new dynamic global model, we present forecasts for Asian expansion over 2025. These baseline growth forecasts elucidate...