China's trade surplus is often heavily criticized in political and economic debates, accompanied by claims for a … investigating bilateral trade balances between China and 11 of her main trading partners. Being the first to use structural … variance decompositions. We find a negative reaction of the trade balance when the Chinese RMB appreciates for most of China …

India and China from the 1970s to 2002 as determined by real economic fundamentals. The relevance and usefulness of the … by the PSEs (from 1985-2002 for India and from 1995-2001 for China) are sensitive to alternative exchange rate …-specific policies. In India, such indirect effects are relatively small and mostly dominated by the direct effects. But in China …