, on trade and consumer welfare in China, the EU, and the rest of the World. We employ a general equilibrium structural … the BRI for China and the EU where a 15 percent reduction in transportation costs between China and the EU would increase … the welfare of a representative consumer in China by 1.27 percent and the EU by 0.5 percent. On the other hand, we find …

The 30 years of reform and opening have brought great material progress to China. By becoming a big country, China …’s actions created huge spillovers on other countries. The result has been a rise in trade tension between China and its trade … partners. Recently, some have claimed that China’s prolonged large trade surpluses have undermined global financial stability …