Over the past 42 years, China’s reform and opening-up has successfully created growth and wealth for China and the world. Against such a backdrop, it is important to recognize that the process of reform and opening-up has been rather asymmetric. Trade has been, by far, the boldest aspect of...

China has rolled out the red carpet of the Belt and Road (BRI) back in 2013 drawing inspiration from the Silk Road in ancient times. The grand plan focuses on infrastructure development and investments to enhance regional and global connectivity between China and the world. It includes a Silk...

You face three big challenges. Probably the most important is preserving the multilateral trading system, including by reforming the World Trade Organisation. Second, you must build stronger bilateral trade relations with key partners, such as the US, China and the United Kingdom. Third, you...

Russia doesn’t just look West, it looks East – and increasingly so. China has risenvery rapidly in economic terms over the past two decades since its accession tothe World Trade Organization. In particular, it has become the largest exporter inthe world from a very low base, surpassing...

Presenting our latest issue of Panorama, where we focus on the economic and trade connectivity between Asia and Europe. Our authors not only look at the US-China trade war but also provide an overview of Asia-Europe relations in the age of rising uncertainty,including the development and...

We investigate empirically what may be the effects of Monetary Policy in the North-namely monetary policy normalization by the FED and quantitative easing (QE) by the ECB- on cross border portfolio flows to the South (Emerging Markets). Using a Dynamic Linear Factor Augmented VAR (FAVAR), we...

After analyzing the different reasons why the financial system and also the regulatory framework induced procyclicality, this paper reviews the experiences of three countries which have introduced dynamic provisioning as a regulatory tool to limit procyclicality. The case of Spain — the...

The paper assesses how close Asian countries are to an Optimal Currency Area in terms of business cycle synchronization, with a focus on supply shock asymmetry. Based on a Structural VAR model, the importance of symmetric and asymmetric supply shocks is teasted for all ASEAN+3 countries. In...

After more than seven years of negotiations, the European Union (EU) and China reached a deal for their Comprehensive Agreement on Investment to go forward at the end of 2020. Such deal is important politically both for the EU and China. The EU reads it as a clear sign of its quest for strategic...

English Abstract: We analyze empirically whether the emergence of China as a large recipient of FDI has affected the amount of FDI received by Latin American countries. For the longest time span possible given data availability (from 1984 to 2001), we do not find a substitution from Latin...