The process of "redefining" capitalism or reinterpreting capitalism ideologies in a modern context can reveal the virtues of classical economics and the ways they can help solve contemporary global problems. In Redefining Capitalism in Global Economic Development, Kui-Wai Li helps us reconsider...

As China becomes a global economic power, Latin American companies will need to adopt winning strategies to succeed in an increasingly competitive landscape. This paper explains the main implications that the shifting power equation will have on Latin America’s economies, analysing the myths...

This paper develops a framework for projecting the GDP growth of Australia’s trading partners from 2012 to 2050. The framework draws heavily on the existing conditional growth literature, including long-standing estimates of key convergence parameters. It adds to the large amount of research...

This report assesses what is new about Asian growth, focusing primarily on the ‘external’ dynamics of change (the roles of inter-country growth and networks, trade and FDI – i.e. the context of globalization).

This paper analyzes the consequences of the internationalization of the Chinese renminbi for the global monetary system and its possible ascension to reserve currency status. In an unstable and financially integrated world, governments’ precautionary demand for reserve assets is likely to...

The economic and the military developments that have characterized the Chinese economy in recent decades have caused Beijing to take steps to ensure the provision of strategic resources necessary for the continued economic growth and consolidation of China`s position and prestige in Central Asia...

China’s economic development in recent decades has been tremendous, but subject to debate. This paper calculates regional prices that make incomes comparable across both time and space using the Engel-curve approach. Incomes are adjusted using these price indices, providing new estimates of...

In his Inquiry into the Nature and Causes of the Wealth of Nations Adam Smith (1776) considered the phenomenon of division of labor so enormously significant for the creation of a nation’s wealth that he devoted the first three chapters of his book to an investigation of this process. This is...

While the traditional approach to the adjustment of international imbalances assumes industrialized countries at a similar level of development and with similar production structures, such imbalances have historically been the result of a process of catching up by late-industrializing developing...

The rise of China as an economic and political driver of the global economy is likely to be one of the defining moments of world history. Its dynamism and international expansion are on the verge of creating a critical disruption in the global order that has held sway for over 60 years. As such,...