substantial welfare benefits for the world, and for China and India, and to act as a powerful offset to the terms-of-trade losses …Although both China and India are labor-abundant and dependant on manufactures, their export mixes are very different … twice as important for India as for China, which is much better integrated into global production networks. Even assuming …

The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009 … internationally, with severe economic and financial disruptions in many countries around the world. The 2009 global recession, set off …

the world urgently need to see the big picture if they are to deal with the specific challenges and opportunities they …

playing field' would be ineffective and result in destructive conflicts in the World Trade Organization. Lack of progress at …

, despite well-known deficiencies. This paper develops and applies optimal aggregators for the real-world case of multiple …

international trade. As world trade is set to rebound, this paper addresses three questions: (i) Will trade volumes rebound in a … symmetric fashion as world economic growth rebounds? (ii) Will the crisis result in a change in the structure of trade, and in …

The rise of Asia is something of a myth. During 1990-2005 China accounted for 28 percent of global growth, measured at …, accounted for only 7 percent, the same as Latin America. Hence there is no general success of Asian developing economies. China … more open to foreign trade and investment, and created good investment climates in coastal cities. China's success changes …

relevant for emerging markets as they integrate financially with the rest of the world. This paper argues that, because of the …