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Journal Article
China's emergence as a manufacturing juggernaut: Is it overstated?
China's emergence as a manufacturing juggernaut selling so many goods to so many countries has attracted enormous attention from academics, policymakers, and the media. In this article, Behzad Kianian and Kei-Mu Yi put China's manufacturing performance into a broader context. They emphasize two key themes: The wages of China's manufacturing workers are rising rapidly; and China's production of export goods relies heavily on imported inputs and the final exported goods face large mark-ups in their destination markets. The first theme implies that China will lose global market share in some ...
Journal Article
A look at China's new exchange rate regime
In this Economic Letter, the author reviews several characteristics of the new renminbi regime. He also examines how the renminbi might have moved in the past if this regime had been in place. Because the PBOC provided only guidelines, and not specifics, about the composition and trade weights of the reference basket, he constructs three likely indexes and compares their movements with each other and with the bilateral renminbi-U.S. dollar exchange rate. He finds that movements in China's trade-weighted exchange rate indexes over the long term are relatively insensitive to currency ...
Journal Article
District tops U.S. in growth of exports to China
The states in the Eighth Federal Reserve District are reporting faster growth in exports to China than is the U.S. as a whole. Missouri is leading the region's pack, with an annual rate of growth topping 31 percent.
Journal Article
Did large recalls of Chinese consumer goods lower U.S. imports from China?
This Economic Letter analyzes the extent to which recalls have led to fewer U.S. imports from China in affected industries and whether there has been a general backlash against the "Made in China" label.