{"id":517903,"date":"2010-04-06T11:05:55","date_gmt":"2010-04-06T15:05:55","guid":{"rendered":"tag:www.economist.com,21005859"},"modified":"2010-04-06T11:05:55","modified_gmt":"2010-04-06T15:05:55","slug":"all-together-now","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/517903","title":{"rendered":"All together now"},"content":{"rendered":"

HERE’S an interesting new research result<\/a> from the Asian Development Bank Institute’s Willem Thorbecke:<\/p>\n

\n

Many argue that the yuan needs to appreciate to rebalance the People\u2019s Republic of China\u2019s trade. However, empirical evidence on the effects of a CNY appreciation on the People\u2019s Republic of China\u2019s exports has been mixed for the largest category of exports, processed exports. Since much of the value-added of these goods comes from parts and components produced in Japan, the Republic of Korea, and other East Asian supply chain countries, it is important to control for exchange rate changes in these countries. Employing dynamic ordinary least squares, or DOLS, techniques and quarterly data, this paper finds that exchange rate appreciations across supply chain countries would cause a much larger drop in processed exports than a unilateral appreciation of the yuan.<\/p>\n<\/blockquote>\n

China has been arguing that America’s use of the full value of Chinese exports, rather than figures adjusted to reflect China’s value-added, vastly overstates the extent of the Chinese current account surplus. It’s important to consider the structure of Chinese production when thinking about these policy choices.<\/p>\n","protected":false},"excerpt":{"rendered":"

HERE’S an interesting new research result from the Asian Development Bank Institute’s Willem Thorbecke: Many argue that the yuan needs to appreciate to rebalance the People\u2019s Republic of China\u2019s trade. However, empirical evidence on the effects of a CNY appreciation on the People\u2019s Republic of China\u2019s exports has been mixed for the largest category of […]<\/p>\n","protected":false},"author":4534,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-517903","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/517903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4534"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=517903"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/517903\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=517903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=517903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=517903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}