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.

How U.S. Antidumping Actions Affect China＇s Inward and Outward FDI

This paper presents an empirical study of how U.S. antidumping （AD） actions against China affect China ＇s inward and outward foreign direct investment （FDI） based on the international division of labor model. Our findings are as follows： （1） The U.S.-China trade deficit has been widened by both downstream firms in China established through vertical FDI and also inward enterprises established through horizontal FDI. The widening deficit in turn exacerbates vitriolic complaints in the U.S. about injury to its industries. This will lead to further U.S. AD actions discouraging FDI in China. （2） U.S. AD cases against China have negatively impacted China＇s metal manufacturing, chemical and, especially, textile industries in terms of exports and inward FDI. From 2004 to 2009, the share of total inward FDI going to China＇s manufacturing sector has dropped drastically by almost 20 percent. This supports predictions made using the international division of labor model. （3） With U.S. AD actions against Chinese products on the rise, Chinese firms chose not to circumvent such barriers through outward FDI in the U.S. but rather through outward FDI in tax havens. Such a pattern of outward FDI is not helpful for China to establish its own successful industrial development model.

Comparison of Corn Production Costs in China,the U.S. and Brazil and Its Implications

This paper analyzes the corn production cost in China, the U.S. and Brazil from 1997 to 2014. According to the results,（1） corn production cost in China is the highest among these three countries;（2） the rapid growth of labor cost and land cost is the major factor that promotes the increase of total corn production cost in China;（3） the level of agricultural mechanization in China has been gradually improving, and the gap between agricultural mechanization levels in China and other two countries is constantly narrowing;（4） differing from the U.S. and Brazil,China exhibits a ＂high input, low output＂ agricultural production mode. Based on the above analyses, corresponding suggestions have been presented to reduce corn production cost in China.

China’s alfalfa market and imports: Development, trends, and potential impacts of the U.S.-China trade dispute and retaliations

This study examines the development and trends of China’s alfalfa market and imports, identifies key factors for the rapid increase in China’s alfalfa imports, and discusses potential impacts of the U.S.-China trade dispute and retaliations on the alfalfa markets and trade in both nations. China’s rapid transition toward larger-scale commercial dairy production, with enhanced feed and cost management as well as quality and safety control, and its limited resources for high-quality alfalfa production are key factors for the dramatic increase in its alfalfa imports, from 19 601 metric tons in 2008 to 1.38 million metric tons(mmt) in 2018. While the United States dominated China’s alfalfa imports with an average share of 97.01% from 2007 to 2017, the share dropped to 83.76% in 2018 and 63.28% in January 2019 due to the trade dispute and retaliations started in 2018. China will likely remain a large importer of alfalfa because of both its growing demand and the comparative advantages of imported alfalfa in quality and price, but the imports from the United States will be highly affected by the ongoing trade dispute and negotiations. China is also expected to make more efforts to reduce its dependence on U.S. alfalfa through increased investment in domestic alfalfa production and identification of alternative sources of alfalfa and other hay imports.

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.

U.S. withdrawal from the Paris Agreement: Reasons, impacts, and China's response

Applying qualitative and quantitative methods, this article explains the driving forces behind U.S. President Donald Trump's decision to withdraw from the Paris Agreement, assesses the impacts of this withdrawal on the compliance prospects of the agreement, and proposes how China should respond. The withdrawal undercuts the foundation of global climate governance and upsets the process of climate cooperation, and the impacts are manifold. The withdrawal undermines the universality of the Paris Agreement and impairs states' confidence in climate cooperation; it aggravates the leadership deficit in addressing global climate issues and sets a bad precedent for international climate cooperation. The withdrawal reduces other countries' emission space and raises their emission costs, and refusal to contribute to climate aid makes it more difficult for developing countries to mitigate and adapt to climate change. Cutting climate research funding will compromise the quality of future IPCC reports and ultimately undermine the scientific authority of future climate negotiations. China faces mounting pressure from the international community to assume global climate leadership after the U.S. withdraws, and this article proposes that China should reach the high ends of its domestic climate targets under the current Nationally Determined Contributions; internationally, China should facilitate the rebuilding of shared climate leadership, replacing the G2 with C5. Meanwhile, China needs to keep the U.S. engaged in climate cooperation.

Enlightenment of Cultural Innovation in the Park of China from the Park Development of U.S.A. and Singapore

This text combines authors＇ visits and examinations on the spot of Silicon Valley of U.S.A. and Park of Singapore, after analyzing the Park development experience of U.S.A. and Singapore, elucidates ＂three culture effects＂ of Park development in terms of cultural system emphatically, then proposes some suggestions of cultural innovation in the Park of China.

EU vs. U.S. , Russia and China

Since George W. Bush assumed the presidency in early 2001, a tense situation had occurred in the relationships among world big powers. In the aftermath of September 11,significant improvement has been made in Sino-U.S. and Russia-U. S. relations. In the meantime, corresponding changes have taken place in EU-U. S.and Russia-China relations.

China catches up with the U.S. as the world's largest manufacturer

This paper compares the internal structures of the manufacturing industries in China and the U.S. from 1998 to 2005 and leads to three major discoveries: First, the gaps between China and the U.S.'s manufacturing capacity have been narrowing at a high speed in the last seven years, during which the share of added value of China's manufacturing industry to that of the U.S. increased from 13% to 52%, and then reached 76% in 2007. Second, the labor force employed in China's manufacturing industry increased by 50%, of which the increase in capital and technology-intensive production sectors exceeded that in labor-intensive sectors. Meanwhile, the labor force employed in the U.S. manufacturing industry decreased. Third, labor productivity in China's manufacturing industry increased by 2.78 times, and profits increased by 2.21 times, much higher than the U.S. growth rates of 18.2% and 49.5%. Obviously, the narrowing gaps between China and the U.S.'s production capacities mean China's industrial progress and the hierarchy of world industrial powers will be rearranged.

The Third U.S.-China Strategic Economic Dialogue

At Grand Epoch City near Beijing on December 12 and 13, the United States and China held the third Strategic Economic Dialogue (SED).As special representatives of President George W. Bush and President Hu Jintao,Treasury Secretary Henry M. Pauslon,Jr. and Vice Premier Wu Yi served as cochairs of the SED.……

China's Outward FDI in 2016 Hitting Another Historical Record High

According to EY 4th issue of its China outbound investment report'China Go Abroad—Key connectivity improvements along the Belt and Road in telecommunications&aviation sectors',and expects China’s outward FDI in 2016 is likely to exceed 170 billion US dollars for the whole year and reach another historical record high.In the coming years,the tide of China’s overseas investment should continue to rise and maintain a double-digit growth rate.

How “Made-in-China” Boosts U.S.Employment-An Empirical Analysis of “U.S.Content” in China’s Exports of Manufactured Goods

This paper aims to examine the specific ways in which China＇s exports of manufactured goods to the United States boost the U.S. job market. Using the OECD STAN Bilateral Trade Database by Industry and End-use Category to calculate the share of U.S. intermediate products used in the manufactured goods China exports to the U.S., this paper finds that the ＂U.S. content＂ in China＇s exports of manufactured goods to the U.S. increases with the technology content of the goods and shows a decreasing trend over time. From 2006 to 2010, the average ＂US. content＂ in China＇s exports of manufactured goods to the U.S. was 1%, and such content in China＇s exports of high-end manufactured goods was 1.6%. On this basis and using the employment-output ratio in the U.S. Employment Demand Matrix, this paper concludes that as many as 1.71 million jobs have been created by the U.S. intermediate products used in China＇s exports of manufactured goods to the U.S. during the same period. Thus, the development of Sino-U.S. trade has a positive impact on the job market in the U.S.. By contrast, instead of improving the employment situation in the U.S., the RMB appreciation proposed by the U.S. might even have a negative effect.

The rise of China's foreign trade:from FDI to “go global”

In 1978,China began to open its door to the outside world.After three decades of step-by-step reform,the country has developed into the world's fourth largest economy with a growth rate continuing in the double digits.What has been the nature of China's reform? What achievements have been made? In this article,the author takes an in-depth look at these questions,delivering an analysis of China's 30-year transformation.

Accreditation System of Distance Higher Education in the U.S. and Its Implications for China

Distance higher education is an important component of the Chinese higher education.How to enhance the quality of distance higher education is one of the key issues to be addressed in the research areas of distance education and higher education.As a crucial step to quality improvement,the constitution of accreditation system in distance higher education balances the benefits of all parties involved.This paper explores the American accreditation system of higher education and distance education and concludes with suggestions for the constitution of the Chinese quality assurance system:1)establishing third-party institutions to share part of the government roles;2)constituting the accreditation system;3)setting up appropriate standards;4)publicizing results of quality assurance work;and 5)building internal quality assurance mechanism.This paper is aimed to provide some reference to the constitution of accreditation system of distance higher education in China,facilitate the solution of quality problems in distance education,and promote the continuous improvement and development of distance education in China.

Lessons from the coronavirus disease 2019(COVID-19)pandemic response in China,Italy,and the U.S.:a guide for Africa and low-and middle-income countries

Africa can be"left behind"after other advanced continents recover from the coronavirus disease 2019(COVID-19)pandemic as reflected by the global pandemic of HIV/MDS.In this paper,we summarize potentially adaptable,effective and innovative strategies from China,Italy,and the U.S.The purpose is to help African countries with weaker healthcare systems better respond to the COVID-19 pandemic.China,being the first to report COVID-19 infection swiftly swung into anti-epidemic actions by the use of innovative risk communication and epidemic containment strategies.Italy and U.S.,the next rapidly hit countries after China,however,experienced sustained infections and deaths due to delayed and ineffective response.Many African countries responded poorly to the COVID-19 pandemic as evidenced by the limited capacity for public health surveillance,poor leadership,low education and socioeconomic status,among others.Experience from China,Italy and U.S.suggests that a better response to the COVID-19 pandemic in Mrica needs a strong public health leadership,proactive strategies,innovative risk communication about the pandemic,massive tests and isolation,and scaling-up community engagement.Lastly,African countries must collaborate with other countries to facilitate real-time information and experience exchange with other countries to avoid being left behind.

China and the U.S.:Equality and Beyond

EIGHT years ago in 2009,when President Barack Obama was in Beijing for his first China visit,U.S.media such as CNN covered the trip by focusing on"whether China will develop a sense of global responsibility"as it grows bigger and bigger.A CNN talk show host pressured her Chinese guest on tough topics like human rights and global responsibility.As his country was scrutinized,questioned,

Wahaha vs. Danone Dispute Leads to Reflections on China's FDI Policies——A Special Interview with ZONG Qinghou and Emmanuel Faber

Background: In 1996, Wahaha, Danone and BNP (Hong Kong) jointly invested in and incorporated 5 companies to manufacture Wahaha brand products, including purified water and eight-treasure porridge. Wahaha holds 49% equity interests in these companies, while Danone later became the dominant shareholder with a 51% stake after acquiring shares held by BNP in the aftermath of the Asian financial crisis. Danone then proposed to transfer the Wahaha brand to a joint venture but did not succeed. Subsequently, a trademark usage contract was signed by both parties instead. In the ensuing years, the Wahaha Group established non-JV companies in west China, central China and the Three Gorges reservoir area. These companies had RMB 5.6 billion of total assets as of December 31st, 2006 and made a net income of RMB 1.04 billion in that year. On April 3rd, 2007, Danone intended to force a deal by which it could acquire 51% equity interests in those non-JV companies for a sum of RMB 4 billion. Wahaha Chairman Zong Qinghou later complained that he and Wahaha fell into a trap set up by Danone. Both parties have since engaged in a lengthy "war of words", thereby arousing a grand debate on China's FDI policies.

State-Based Determinants of Inward FDI Stock in the U.S. Economy

This paper has empirical character and investigates locational determinants of the inward foreign direct investment （FDI） stock among 50 states of the United States. The analysis uses annual data for the period from 1997 to 2007. The study identifies several state-specific determinants of FDI and investigates the changes in their importance during the study period. Our results show that among the major determinants, the real per capita income, real per capita expenditure on education, FDI related employment, plus real research and development expenditure are found to have a significant positive impact on inward FDI. There is also evidence that manufacturing density and unionization exert a small positive impact on inward FDI. In addition, per capita state taxes, the share of scientists and engineers in the workforce, real capital expenditure, and unemployment rate exert a negative impact on FDI.