Although technology transfer in Sino-foreign joint ventures has been extensively investigated by both of Chinese and Western scholars, China's WTO accession and continuously increased FDI absorption will significantly accelerate the competitiveness in Chinese market. Accordingly, MNCs are...

We analyze how the product market competition shock due to China’s WTO entry affects local US banks heterogeneously. Using a difference-in-differences empirical strategy, we document that in regions with greater exposure to the shock, loan quality deteriorates and bank profitability declines...