Counteraction to China?Impact of the U.S.International Development Finance Corporation on China’s Development Finance

The United States passed the Better Utilization of Investment Leading to Development(BUILD Act),as a counterweight to China’s overseas development activities.Under the Act,the US established a new federal agency,the U.S.International Development Finance Corporation(DFC),to enhance U.S.development financing capabilities.To better understand the impact of the DFC on China’s development finance,this article analyzes the DFC’s purpose,functions,structure,and funding.Then it focuses on the purpose of establishing the DFC,providing a preliminary analysis of the potential motivation for its establishment.It also compares the China Development Bank(CDB)and the DFC based on their focused sectors.Finally,through an in-depth analysis of financial frictions in China-U.S.relations,this article argues that the DFC competes with China’s overseas development financing activities in the context of broader strategic competition between China and the U.S.

The Implementation Mode of No-Fly Zones in International Relations

A No-Fly Zone(NFZ)is a unique mode of humanitarian intervention which is understudied in international relations.This article focuses on the political dimension of NFZs in international relations and investigates their implementations by empirically reviewing all three cases of NFZs to date.There may be efforts by intervening states to highlight humanitarian crises among certain targets to secure UN authorization for the NFZs;yet the implementation of NFZs is also driven largely by the security interests of enforcing states.As a result,there is the potential for those states implementing NFZs to transcend legal authorization and sometimes use excessive force,with likely calamitous results for local populations,or in extreme cases,accomplishing regime change by supporting opposition parties in target states.

The relationship between international crude oil prices and China＇s refined oil prices based on a structural VAR model

With the frequent fluctuations of international crude oil prices and China＇s increasing dependence on foreign oil in recent years, the volatility of international oil prices has significantly influenced China domestic refined oil price. This paper aims to investigate the transmission and feedback mechanism between international crude oil prices and China＇s refined oil prices for the time span from January 2011 to November 2015 by using the Granger causality test, vector autoregression model, impulse response function and variance decomposition methods. It is demonstrated that variation of international crude oil prices can cause China domestic refined oil price to change with a weak feedback effect. Moreover, international crude oil prices and China domestic refined oil prices are affected by their lag terms in positive and negative directions in different degrees. Besides, an international crude oil price shock has a signif- icant positive impact on domestic refined oil prices while the impulse response of the international crude oil price variable to the domestic refined oil price shock is negatively insignificant. Furthermore, international crude oil prices and domestic refined oil prices have strong historical inheri- tance. According to the variance decomposition analysis, the international crude oil price is significantly affected by its own disturbance influence, and a domestic refined oil price shock has a slight impact on international crude oil price changes. The domestic refined oil price variance is mainly caused by international crude oil price disturbance, while the domestic refined oil price is slightly affected by its own disturbance. Generally, domestic refined oil prices do not immediately respond to an international crude oil price change, that is, there is a time lag.

Assessment of China's International Environment and U.S. Strategic Trend

It is of great significance to have a clear understanding of the international environment that China faces. But this is an uneasy job. Since September 11, the world situation has become so complicated that it is hard to grasp its essence even with painstaking efforts. To judge such an already complicated international environment from China’s perspective adds more difficulties, for different people usually have different views due to the different angles from which they see the situation and different methods they adopt. This, understandably, leads to hot debates within the Chinese academic circles. To provide a stage for exchange of views, at the invitation of the CIR Expert Forum, some well-known scholars and experts on international relations from Beijing gathered to hold a symposium on November 5, 2002, with the theme of "How to assess the international environment that China faces". The speeches at the symposium will be published in two installments. Following are the first half.

On China's Foreign Trade Development and Linkage with the Customary Rules of International Trade

Although great differences exist between the trade systems of different countries,internationaltrade must go on in line with the customary international trade rules.As China’s economy developsand the socialist market economic system emerges,China is basically qualified to link up withcustomary international trade rules.In the Ninth Five-Year Plan period,China’s reform of its foreigntrade system aims at setting up a trade system that conforms with international trade practice.Forthe purpose,the author of this article suggests that a neutral trade policy should be adopted inaccordance with the international practice since it does not hinder exports,nor restrict imports toan excessive degree.

The Transition of the international Order and China's Role

The international order is built on the principles of sovereign equality,national interests,great powers and respect for human rights among others.International rivalry and cooperation have existed side by side over the past few centuries,while the foundations of an international order have solidified.We are now seeing a transition in the international order that requires new innovative ways of thinking.China is seen as the key driver of these changes because of its unique status,pattern of growth and future potential.China should embrace this historic opportunity and take on its obligations to contribute to the birth of a new modern international order.

International Disorder and China's Strategic Thoughts

Since the 2008 international financial crisis, international political and economic disorder has become obvious. Major reasons are the decline of US-led Western developed economies' global influence; US and other Western countries inaction or ineffective actions; power diffusion allowing non-state actors to intervene; a global governance short of needed rules; and mainstream economic theory's overemphasis on market roles. International disorder is a long-term process posing a potential threat to China's national interests. The situation challenges China to create an international economic and trade order, thereby shaping itself as prophet of global free trade, shaper of international economic and trade rules, and trendsetter for globalization.

New Changes in the International Situation and China＇ s Strategic Choices

The international situation is evolving more impressively than it has at any time since the end of the Cold War. Globalization has been in decline. Nations are scrambling to gain greater influence. The intemational strategic pattern is being adjusted. Many countries have problems with public management, and are faced with a new array of social trends and increasingly popular movements. The world is entering a new era full of chaos and anxiety. Mankind once again faces significant trade-offs and choices in peace and conflict, development and recession, openness and isolation, liberalism and conservatism. China strives to advocate win-win cooperation and lead the trend of reform and opening to maintain a favorable external environment despite world chaos, and enhance status and institutional fights in the international system. China＇s 30 years of development was successful in the process of integrating into the existing international system; China is a participant as well as a builder of the international system, rather than a challenger or a subversive. In the future, with a constructive attitude, China will promote the international system in a more reasonable direction together with international partners, in order to better safeguard world peace and security, and promote sustainable development throughout the world.

New Momentum in China’s Import Consumption Market——China Chamber of International Commerce,Deloitte China and Ali Research Jointly Release China Import Consumption Market Report

Stimulated by the continuous opening-up strategy and strong domestic demand,China s consumption market has become an important growth pole for the global market.China’s import consumption market has ushered in innovation driven by technology,and new import models represented by cross-border e-commerce have strengthened ties between China and other countries around the world.

Thoughts on International Situation and China's Response

As a major event at the turn of the century, NATO’s world-shocking air strikesagainst Yugoslavia represent certain dangerous trends in US global strategyand international strategic configuration. The event has aroused widespread con-cern and heightened vigilance among the international community. Althoughflames of war have died out in the Balkans, yet the dust there has yet to settle. It,therefore, remains a matter of urgency to engage in some comprehensive, in-depth, strategic reflections on the major event itself, its international

Further Enhancing the International Competitiveness of China's Chemical Industry

Foreign-oriented Economy Entering a New Stage The Eighth Five-year Plan period saw the fastest development of the foreign-oriented economy in China’s chemical industry, with an accumulated import and export value of US$100 billion, including US$38.3 billion of exports. In 1996 the total import and export value reached US$30 billion, including US$12 billion of exports. Now, more than 300 chemical enterprises and institutes have obtained foreign

CHINA'S INTERNATIONAL AVIATION CORP.

Long ago,a group of Beijing opera artistsperformed the Red Phoenix mythicaldancing,conquering audiences in theUnited States.Now the Red Phoenix designis used by the China International AviationCorporation(CIAC) as its registered mark,indicating that all its airplanes fly in safety,bringing happiness and success for all thepassengers everywhere in the world. In the world today,the airplane hasbecome indispensable.Safety,reliability,comfort and convenience are the major pointsthat concern passengers,and also a key

International Markets for China's Electronics Products An Interview with Ouyang Zhongmou, President of the China Electronics Import-Export Corporation

It’s estimated that by the year 2000, the international electronics market will be worth US$ 2 trillion, making the electronics industry the world’s largest. How to expand its share of this international market will be a challenge for the China Electronics Import-Export Corporation. Recently, our reporter interviewed Mr. Ouyang Zhongmou, president of CEIEC. Question: How is your corporation getting on as China’s largest foreign

Rethinking China's pension reform——The relevance of international experiences

Pension funds remain scarce no matter what institutional design is adopted. China has a host of unique issues facing its pension system,issues that must be confronted; for instance,the disappearance of its demographic dividends and legacy costs incurred due to institutional transition. Such features determine that China’s pension system is merely passable at the present time. In this article,Professor Cai Fang offers new and incisive perspectives on this issue,such as the potential stimulus for economic growth by ageing people’s desire to save money for old-age provisions.

Assessment on the Two New Factors That Influence China's International Environment

The development and changes in international situation after September 11 have exerted complicated influence on China’s external security environment. Therefore, how to judge current international security environment that China faces has become a very hot subject for discussion.

The Belt and Road Initiatives and China＇s International Energy Cooperation： Progress, Mechanisms, and Recommendations

China＇s international energy cooperation and energy security are important parts of The Belt and Road initiatives. China and the countries along the Belt and Road continue to promote cooperation, actively use the existing bilateral and multilateral cooperation mechanisms to promote the regional and inter-regional energy cooperation. Countries along the Belt and Road are rich in oil and gas resources; their demand on the diversification of export meet with the diversification demand on imports of consumption countries; and their oil refining and chemical technology as well as construction capacity is weak, which provides a lot of new opportunities in cooperation for Chinese enterprises. However, the energy cooperation of Chinese enterprises are also facing some challenges in the complex environment of energy cooperation, the interference of big powers, non-traditional security threats, and energy policy factors. Finally, the paper puts forward the strategic thinking of China＇s international energy cooperation under the new situation.

'94 China International Garment Fair Saw Some of the World's Best

The 1994 China International Garment Fair was held in Beijing in late spring at the China International Exhibition Center with the participation of over 300 enterprises from around the world. The exhibition hall was covered with colourful garments from different countries. Renowned mannequins showed the charms of the Western and Oriental apparel. With the approval of the China National Textile Council and the Ministry of Foreign Trade and Economic Cooperation, the 1994 fair was sponsored by the China Garment Research and Design Center (group), China International Trade Center, Textile Sub-

MAJOR CHANGES OF WORLD SITUATION AND CHINA'S INTERNATIONAL STRATEGY

In November 2016,Donald Trump,the Republican presidential candidate,defeated the highly popular Hillary Clinton,and became president elect of the United States.It is generally believed that Trump’s policies are hard to predict because of his lack of political experiences.The author believes that,it is necessary for the US