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51. Why Is the World Bank Still Lending?

Author:
Adam Lerrick
Publication Date:
11-2005
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
World Bank money is building schools in China's impoverished western provinces, but the bill for interest charges is being mailed to the United Kingdom, attention Chancellor of Exchequer Gordon Brown. Mexico, Chile, and Brazil will soon be lining up for the same deal. This is but the latest scheme designed to preserve the World Bank's lending role at a time when the need and demand for its services are falling. Major middle-income countries, the cream of the bank's lending portfolio and where more than 80 percent of Latin Americans live, are curbing their borrowing and paying down their balances, setting off alarms at the bank. Net loan flows have shifted from a positive $10 billion in 1999–2001, to a negative $15 billion in 2002–2004.
Topic:
Debt, Development, Economics, and Third World
Political Geography:
China, United Kingdom, Brazil, Latin America, Mexico, and Chile

52. Market Comrades

Author:
R. Glenn Hubbard
Publication Date:
09-2005
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Ceremonial gift-giving is an integral part of doing business in China. The value lies not so much in the gift (whose packaging is often more elaborate), but in the possibility of cementing a mutually beneficial relationship. And so it was a few weeks ago with the headline-grabbing announcement that China would revalue the yuan against the U.S. dollar. The modest gesture may make more possible a comprehensive economic dialogue between China and the United States in the interest of both nations. The announcement on July 21 by the People's Bank of China that it would revalue the yuan, abandoning the eleven-year-old peg of 8.28 yuan per U.S. dollar, caught financial markets by surprise. The jolt led market participants to gauge effects of current (and perhaps future) revaluations on currency values and interest rates. And, some U.S. political leaders claimed a victory in the campaign to blame Chinese “market manipulation” for external imbalances facing the United States.
Topic:
Economics, Emerging Markets, and International Trade and Finance
Political Geography:
United States, China, and Asia

53. Yuan Answers?

Author:
Phillip L. Swagel
Publication Date:
06-2005
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
If China decides to adopt a flexible exchange rate, as many U.S. policymakers have urged, gains in U.S. exports and national savings in the long term will be offset by higher prices on Chinese goods and higher interest rates in the short term.
Topic:
Economics, International Trade and Finance, and Politics
Political Geography:
China and Asia

54. The United States, China, and the Rise of Asian Regionalism

Author:
Claude E. Barfield
Publication Date:
09-2004
Content Type:
Working Paper
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The goal of this paper is to analyze the evolution of trade relations between the United States and China, against the background of rising East Asian regionalism. It will also put forward policy options for the United States and China in response to the changing economic realities in East Asia.
Topic:
Foreign Policy and International Trade and Finance
Political Geography:
United States, China, Israel, and East Asia

55. China's Route to a Green and Prosperous Future

Author:
Roger Bate
Publication Date:
12-2004
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
By opening its economy to greater domestic and foreign investment in the technologies needed to reduce greenhouse gas emissions, China can dramatically improve its environmental record while becoming richer. The same promise holds for other developing countries as well.
Topic:
International Relations, Foreign Policy, Democratization, and Economics
Political Geography:
China

56. China Should Trust in Capital Markets

Author:
R. Glenn Hubbard and William Dudley
Publication Date:
11-2004
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
A critical factor in China's long-term economic growth is the development of its capital markets, which if properly organized could foster greater productivity, increased wages, and employment growth.
Topic:
International Relations, Foreign Policy, Democratization, and Economics
Political Geography:
China

57. Taiwan: Test Case of the Bush Doctrine

Author:
Thomas Donnelly
Publication Date:
04-2004
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
While the Bush administration has articulated an ambitious agenda for the liberalization of the greater Middle East, fighting to establish beachheads of freedom in Afghanistan and Iraq as well as pressuring regimes in the region to adopt domestic reforms, it has thus far proven somewhat reluctant to embrace this commitment to liberty in other parts of the world. Nowhere has this retreat from its rhetoric been more pointed than in Taiwan, a flourishing free-market democracy menaced by an authoritarian colossus next door. Taiwan's March 20 election provides fresh evidence of the extent to which the "one China" policy and "strategic ambiguity"—those avatars of conventional wisdom—have passed into the realm of anachronism. Indeed, if the Bush Doctrine represents anything, it is the conviction that there must be nothing ambiguous about America's support for the forces of freedom.
Topic:
Security and Foreign Policy
Political Geography:
Afghanistan, United States, China, Iraq, Middle East, and Taiwan

58. America Demands; China Supplies

Author:
John H. Makin
Publication Date:
04-2004
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Say's Law, named after French economist Jean- Baptiste Say (1767–1832), was promulgated at the time of the Industrial Revolution when some feared that purchasing power would be insufficient to absorb the ever-growing output of the newly mechanized economy. It states simply and reassuringly that supply creates its own demand. More specifically, the production of output tends to generate purchasing power equal to the value of that output.
Topic:
Economics, International Trade and Finance, and Political Economy
Political Geography:
China, America, and Asia

59. "Animal Spirits" and Policy Stimulants

Author:
John H. Makin
Publication Date:
12-2003
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The policy stimulants administered in very large doses to the U.S. economy at midyear are wearing off fast. China's boom, while not ending, is cooling. The result of those two facts will be U.S. growth of 3 percent or less in the final quarter of this year and the first quarter of next before tax rebates kick in to provide a lone quarter of 4 percent growth next spring. Then it will be back to 3 percent, plus or minus half a percent, in the second half of 2004 as the boost from tax cuts fades, provided stock markets hold up.
Topic:
Economics, International Trade and Finance, and Political Economy
Political Geography:
United States and China