From Partner to Rival: Understanding China’s Technological Rise through Patent Data
de Soyres, Francois; Fisgin, Ece; Santacreu, Ana Maria (2025-04-03)
A new measure of patent similarity shows China shifting its international patents toward technology-intensive industries traditionally dominated by developed nations.
On the Economy

Discussion Paper
The Sectoral Evolution of China’s Trade
de Soyres, Francois; Fisgin, Ece; Gaillard, Alexandre; Santacreu, Ana Maria; Young, Henry L. (2025-02-28)
Since 2018, Chinese officials have been emphasizing the need for China to achieve greater self-reliance. As discussed in de Soyres and Moore (2024), China has reduced its reliance on imported inputs, while simultaneously becoming more dependent on foreign demand to absorb its manufactured goods. In this Note, we look at the evolution of the sectoral composition of China's exports and imports and investigate its similarity with the sectoral composition of the trade baskets of advanced economies (AEs). First, using a gravity model, we show that bilateral trade flows are significantly influenced ...
FEDS Notes , Paper 2025-02-28-2

Discussion Paper
An investigation into the economic slowdown in the euro area
de Soyres, Francois; Fisgin, Ece; Garcia-Cabo, Joaquin; Lott, Mitch; Machol, Chris; Richards, Keith (2024-12-20)
Euro-area economic performance has been subdued since around 2018, and especially so in more recent years. As discussed in both Enrico Letta's and Mario Draghi's reports, the euro area economy faces notable structural challenges that were exacerbated by the pandemic and the disruption to energy markets that ensued from the Russian invasion of Ukraine.
FEDS Notes , Paper 2024-12-20-1