A Study of Coordinating China's Two-Pillar Regulatory Policy under the Shock of the Fed's Interest Rate Hike-From the Perspective of"Stable Growth"and"Risk Prevention"

Domestic asset price fluctuations triggered by the impact of the Fed's interest rate hike may lead to a spiral of mutual feedback between fluctuations in real economy and systematic risks of the financial sector.By constructing a DSGE model of small-scale open economy including cross-border capital flows and supply-demand financial frictions,this paper describes the negative feedback mechanism formed by the interplay between domestic real-economy fluctuations and financial risks on both supply and demand sides under the impact of Fed's interest rate hike,and studies how to coordinate monetary policy and macroprudential policies under the goals of maintaining stable growth and preventing risks.

An appraisal of the regulatory policies governing the use of herbal traditional medicine

The regulation of herbal traditional medicine(HTM)is of much importance as it ensures the safety,quality and efficacy thereof.However,there are variations in the regulation of HTM worldwide with some countries being more supportive of HTM than others.This literature review aimed to evaluate and compare the regulatory policies governing the use of HTM in developed and developing countries as well as to determine the regulatory challenges faced by regulatory authorities and governments across the world.The countries investigated in this study were Germany,the United States of America,Japan,South Africa,China and India.Variations were evident between countries,however,Germany and Japan were found to be more advanced with regards to the regulation of HTM.Germany and Japan had stricter regulatory policies and lesser safety concerns.South Africa and the United States of America appear to have inadequate or ineffective HTM regulatory systems which was seen by the countries’limited or lack of regulations and additional safety concerns.The findings showed the difference in HTM regulation between developed and developing countries were not as large as could be expected.The United States of America(developed country)was found to have poor HTM regulations,while China and India(developing countries)were found to have thorough regulations.The findings also show that both developed and developing countries continue to face challenges with regards to establishing regulations and registration procedures for HTM.

Crowding-in or Crowding-out:How Infrastructure Investment Affects Household Consumption

This paper constructs a dynamic model of household consumption decisions and accordingly designs empirical analyses to identify how infrastructure investment affects private consumption.The estimation results of provincial panel data reveal that infrastructure investment can not only indirectly promote household consumption through the income channel but also directly promote household consumption expansion through the expectations channel,with a significant"crowding-in"effect.However,the effect is significantly weaker in provinces with a lower housing supply elasticity,showing the"crowding-out"pattern through the wealth channel.Household survey data provide an explanation for individual heterogeneity.Infrastructure investment has a greater pushing effect on house prices in provinces with a lower housing supply elasticity.Rapid house price growth has significant"crowding-out"effects on the consumption of wealthy households.This not only significantly weakens the driving effect of infrastructure investment on aggregate household consumption,but also increases wealth inequality in the long term.This paper explains how infrastructure investment affects household consumption and the corresponding role played by house prices,providing empirical evidences for theoretical studies related to macro-regulatory policies in China.

Zero E-waste:Regulatory impediments and blockchain imperatives

The concept of zero waste is an ideal situation that will require different solutions for different categories of waste.Electronic waste(E-waste),the fastest growing category of solid hazardous waste presents various unique challenges.Electronic product repair,reuse and remanufacture(3re)are crucial for effective source reduction of E-waste and the integration of the electronics industry into a circular or zero-waste economy framework.Increasingly,3re implementation is restricted by regulatory difficulties,particularly the invocation of copyright laws.Here,we use the examples of electronic printer cartridges and restored compact discs(CDs)to identify the challenges and to explore solutions for managing the risks associated with E-waste through circular economy and the opportunities presented by innovative Blockchain solutions.A set of international consensuses on judicial definitions,such as 3re,refurbish fake/counterfeit product and copyright exhaustion,are proposed to accelerate source reduction in E-waste management toward the goal of zero waste.

Monetary Policies versus Regulatory Policies:Management of Peer to Peer Market Interest Rates

This paper studies how monetary and regulatory policies manage peer to peer(P2P)interest rates.Based on selected representative monetary and regulatory policies,this paper finds that easy monetary policies reduce the demand for online loans,thus reducing the market s interest rates.Monetary policies may increase the supply of online loans through rational expectation channels or reduce the demand for online loans through bank risk-taking channels.Normative market-based regulatory policy enables the P2P market to return to rationality,eliminates high-risk investors and borrowers,and subsequently reduces market interest rates.Risk disposal-based regulatory policy reduces market supply to some extent,resulting in a small increase in interest rates.Both easy monetary policies and regulatory policies have a great impact on the normal platforms.The interest rate of high-risk platforms is less affected by the relevant policies,which is evidence that such platforms do not behave in accordance with the financial rules in general.Monetary policies mainly affect platforms with interest rates in a relatively normal range,while regulatory policies mainly focus on platforms with abnormal interest rates.

Surface-enhanced Raman spectroscopy for emerging contaminant analysis in drinking water

Emerging contaminants(ECs)in drinking water pose threats to public health due to their environmental prevalence and potential toxicity.The occurrence of ECs in our drinking water supplies depends on their physicochemical properties,discharging rate,and susceptibility to removal by water treatment processes.Uncertain health effects of long-term exposure to ECs justify their regular monitoring in drinking water supplies.In this review article,we will summarize the current status and future opportunities of surface-enhanced Raman spectroscopy(SERS)for EC analysis in drinking water.Working principles of SERS are first introduced and a comparison of SERS and liquid chromatography-tandem mass spectrometry in terms of cost,time,sensitivity,and availability is made.Subsequently,we discuss the strategies for designing effective SERS sensors for EC analysis based on five categories—per-and polyfluoroalkyl substances,novel pesticides,pharmaceuticals,endocrine-disrupting chemicals,and microplastics.In addition to maximizing the intrinsic enhancement factors of SERS substrates,strategies to improve hot spot accessibilities to the targeting ECs are equally important.This is a review article focusing on SERS analysis of ECs in drinking water.The discussions are not only guided by numerous endeavors to advance SERS technology but also by the drinking water regulatory policy.