Existing theoretical literature predicts that geographic concentration encourages vertical disintegration of firms. Nevertheless, empirical evidence of this prediction is limited, especially in developing countries. Using data on manufacturing firms from China, this paper documents a positive...

The Republican Party has been the party most supportive of free trade in American politics for half a century. Donald Trump, the 45th US president, held a different stance from his party on free trade. We assess how Trump's China tariffs in mid-2018 impacted the performance of his party in its...