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Full-Text Articles in Social and Behavioral Sciences
China’S Changing Perspective On The Wto: From Aspiration, Assimilation To Alienation, Henry S. Gao
China’S Changing Perspective On The Wto: From Aspiration, Assimilation To Alienation, Henry S. Gao
Research Collection Yong Pung How School Of Law
Since its accession to the WTO twenty years ago, China’s image has shifted from a good student aspiring to assimilate itself into the multilateral trading system to one that is increasingly alienated from key WTO principles. How has China’s perspective on WTO been evolving? What are the reasons behind China’s changing perspective? This chapter addresses these questions from the Chinese perspective with a comprehensive analysis of the key moments in China’s first two decades in the WTO, followed by practical suggestions on how to engage China more constructively in the WTO and beyond.
Singapore In The Global Value Chains, Pao-Li Chang, Tran Bao Phuong Nguyen
Singapore In The Global Value Chains, Pao-Li Chang, Tran Bao Phuong Nguyen
Research Collection School Of Economics
This chapter analyses the participation of Singapore in the global value chains (GVC): how much of its gross exports are GVC-related trade; how downstream it is; and which countries are its key upstream and downstream trade partners. The analysis is carried out both at the country aggregate level and at the sector level. New formulas are proposed in the gross export decomposition framework of Koopman, Wang and Wei (2014) and Borin and Mancini (2017), to characterise a country/industry’s downstreamness in the GVC and the importance of each trade partner in its backward/forward linkages. Singapore started off with a very high …
The Unique Role Of The State Press In The Chinese Economy, Singapore Management University
The Unique Role Of The State Press In The Chinese Economy, Singapore Management University
Perspectives@SMU
CUHK research investigates the role played by China’s state-owned media in supplying information vital to the functioning of China’s capital markets
Foreign Direct Investment And Industrial Agglomeration: Evidence From China, Wen-Tai Hsu, Yi Lu, Xuan Luo, Lianming Zhu
Foreign Direct Investment And Industrial Agglomeration: Evidence From China, Wen-Tai Hsu, Yi Lu, Xuan Luo, Lianming Zhu
Research Collection School Of Economics
This paper studies the effect of foreign direct investment (FDI) on industrial ag-glomeration. Using the differential effects of FDI deregulation in 2002 in China on different industries, we find that FDI actually affects industrial agglomeration neg-atively. As FDI brings technological spillovers and various agglomeration benefits, other forces must be at work to drive our empirical finding. We propose a simple theory that FDI may discourage industrial agglomeration due to fiercer competition pressure. We find various evidence on this competition mechanism. We also examine an alternative theory based on spatial political competition, but find no evidence sup-porting it. On industrial growth, …
The Future Development Of Reits In China, Jia Sun
The Future Development Of Reits In China, Jia Sun
Dissertations and Theses Collection (Open Access)
Real Estate Investment Trust (REIT) is a type of trust fund or corporation that pools the funds of a large number of investors by issuing a certificate of income and invest the raised funds in real estate projects that are managed by a specialized investment institution. The real estate investment risk is moderate, and the rent is stable, but the capital threshold is high, and it is difficult for small and medium investors to enter the market. The invention of REITs aims to solve this problem, through the collection of funds, so that small and medium investors can enter the …
China's Yuan: Asia's Future Anchor Currency?, Hwee Kwan Chow
China's Yuan: Asia's Future Anchor Currency?, Hwee Kwan Chow
Research Collection School Of Economics
The yuan is becoming more widely used in pricing and settling intra-regional trade and investment. Asian currencies' movements are likely to shift more in tandem with the yuan, leading to it becoming one of Asia's lead currencies. Singapore is now the world's second-most- important offshore yuan trading hub after Hong Kong.
Exchange Rates And Export Structure, Wen-Tai Hsu, Yi Lu, Yingke Zhou
Exchange Rates And Export Structure, Wen-Tai Hsu, Yi Lu, Yingke Zhou
Research Collection School Of Economics
This paper studies whether changes in the exchange rate affect a country’s export structure, using an arguably exogenous sudden appreciation of renminbi on July 21, 2005 as the main source of identification. Employing combined regression discontinuity and difference-in-differences approach, we show that China’s export structure became more similar to that of the developed countries after the currency appreciation. We also find that the majority of the appreciation effect comes from the inter-firm resource reallocation rather than the inter-region or intra-firm resource reallocation.