Regulating digital platforms in China

Today, a China Daily article described government complaints about Uber's subsidies to drivers: Speaking at a news conference in Beijing, he [the minister of transport] said the subsidies are a short-term tactic to gain a bigger market share. "The apps are profit-driven and the subsidies will not be handed…

China's opening to trade

A striking passage from C. Fred Bergsten's comment published in 2004 in Development challenges in the 1990s: leading policymakers speak from experience, edited by Tim Besley: [Jiang Zemin] said, in perfect English, that he considered China’s entry to the WTO to be closely related to his country’s “deep…

China's Belt and Road Initiative

PIIE BRIEFING 16-2: China's Belt and Road Initiative: Motives, Scope, and Challenges: China's commercial ties with the outside world have long been symbolized by the ancient Silk Road, which began as a tortuous trading network of mountain paths and sea routes that provided a lifeline for the Chinese economy. Now…

Happening in China - February 2016

China central bank resumes easing cycle to cushion reform pain | Reuters European Chamber of Commerce in China: Overcapacity in China Xinhua: China inaugurates national R&D plan: "The plan merges several prominent state sci-tech programs, including the program 863 and program 973, focused on key fields such as…

Background for the G20 deputies meeting in Shanghai

Global Prospects and Policy Challenges: G-20 Finance Ministers and Central Bank Governors’ Meetings: The global recovery has weakened further amid increasing financial turbulence and falling asset prices. Activity softened towards the end of 2015 and the valuation of risky assets has dropped sharply, especially in advanced economies, increasing the likelihood…

Income inequality in China: two contradictory statistics

A chart from this IMF working paper shows that looking at the popular "Income share of the top 1%" metric can be misleading. By that statistic, China looks like one of the most equal countries in the world. In fact, it is one of the most unequal countries,…

Chicago Stock Exchange and other Chinese investments

Judging by the recent money flows, Chinese companies like offshore wind farms, European football clubs, and... financial infrastructure: Bloomberg Business: Obscure Chinese Firm Dives Into $22 Trillion U.S. Market While the world has gotten used to seeing Chinese companies snap up overseas businesses, the purchase of a 134-year-old U.…

Regional inequality in China

Shanghai's GDP per capita was 86,657 yuan in 2013, while Chongqing's GDP per capita was 38,349 yaun in 2013. Tibet's GDP per capita was just 26,068 according to the latest regional tables from NBS. A quick chart of some poorer regions shows that 1) the gap between…