evaluation of the world's fundamental regulators of liner shipping conferences, their relative power and authority, and how they … have adapted to the world shipping market. The conclusion is simple: consistent with its status as the world's largest … shipping market and holder of state-owned carriers, China is the last world watchdog with the regulatory clout to prevent the …

rates all around the world on the domestic inflation, real consumption, and the allocation of labor of a particular country … freights in the rest of the world. To identify the transportation costs shocks in the model, I estimate trade elasticities to …