This paper reviews the steps that China has taken towards financial reform with a particular focus on capital account liberalisation and internationalisation of the use of the renminbi. After a slowdown in reform momentum during the global financial crisis, there is a clear push towards reform,...

With the trade conflict between the United States and China bringing China-US strategic competition into the open, the European Union faces an urgent question: how to position itself in the competition. This paper reviews the impact of the US-led trade war against China and its immediate...

EU countries are complementary to Russia on the Chinese market. However, Chinese exports are increasingly relevant substitutes for EU exports on the Russian market. This means that an increase in China-Russia economic cooperation should have a negative impact on European exports. The authors...

The Belt and Road initiative, recently embarked on by China, aims to improve cross-border infrastructure in order to reduce transportation costs across a massive geographical area between China and Europe. The authors estimate how much trade might be created among Belt and Road countries as a...

China's economic ties with Russia are deepening, particularly in terms of trade and cross-border lending, but less so in terms of Chinese foreign direct investment in, or portfolio flows to, Russia. Meanwhile, Europe remains Russia's largest trading partner, lender and investor. In relation to...

Drawing on a global database of media articles, we quantitatively assess perceptions of China’s Belt and Road Initiative (BRI) in different countries and regions. We find that the BRI is generally positively received. All regions as a whole, except South Asia, have a positive perception of the...

China’s increasingly important role in the global economy has transformed the nature of global competition and reshaped international trade. Meanwhile, the European Union has long been the most important power in global trade and continues to run a very large trade surplus. We address whether...

This paper reviews international measures of the digital economy and compares them with those developed by Chinese officials and private sources. Given the lack of comparability, we use China’s input and output and census data to come up with an internationally comparable estimate of the size...

Drawing on global media reports, we conduct a sentiment analysis of the image of China's Belt and Road Initiative (BRI) and the evolution of its image over time. Our main finding is that perceptions of the initiative deteriorated significantly in many geographies from 2017 to 2022. The notable...

As the Chinese economy continues to decelerate, the central government is investing heavily in innovation, doubling down on research and development (R&D) spending and STEM-oriented human capital. In this paper, we assess China's progress so far, looking at the inputs to innovation (R&D and...