Protocol on the accession of the people’s republic of china

Preamble The World Trade Organization (“WTO“), pursuant to the approval of the Ministerial Conference of the WTO accorded under Article Ⅻ of the Marrakesh Agreement Establishing the World Trade Organization (“WTO Agreement“), and the People‘s Republic of China (“China“). Recalling that China was an original contracting party to the General Agreement on Tariffs and Trade 1947. Taking note that China is a signatory to the Final Act Embodying the Results of the Uruguay Round of Multilateral Trade Negotiati...     

Economic Implications of China‘s Accession to the WTO

I. IntroductionChina's accession to the World Trade Organization (WTO) on 11 December 2001 was a monumental event. Never has an accession to the WTO stirred up such intense emotions throughout the world: euphoria, envies, and, above all, fears. Workers on both sides of the Pacific Ocean and beyond have genuine fears of losing their jobs. Governments and entrepreneurs from both developing and developed countries are afraid of     

Causes of people’s death in peacetime and economic assessment of the value of losses

The paper gives information on the number of people, who died and were injured as a result of external causes in Russia. Traffic accidents, plane crashes, terrorism, and emergencies worsen the demographic situation in Russia, which is unfavorable even without it, and also creates severe economic consequences. An assessment of the value of lives lost due to mortality from accidents is presented.     

Review of the EU’s Preliminary Assessment of China’s Market Economy Status

I. Introduction In late June 2004, the EUmade a decision on its Preliminary Assessment of the People’s Republic of China’s Request for Graduation to Market Economy Statusin Trade DefenseInvestigations. This preliminary result came out after China lodged the request in June2003. The EU assessment report holdsthatbefore it can be granted thestatus, China needsto make substantialprogress in fourfields:government intervention, corporate governance,property and bankruptcy laws, and the f…     

The Research on the Relation between China＇s Accession to WTO and China＇s Economic Development under the Theory of Comparative Advantage

According to the theory of comparative advantage, the relation between China＇s accession to WTO and China＇s economic development is studied. And a positive conclusion is presented in this article.     

China’s new lost generation: the casualty of China’s economic transformation

China’s surge into global middle-income status over the space of three decades has been spectacular. However, a potentially large and burdensome cost has been imposed on a generation of adolescents and young adults who abandoned the countryside, and with it access to basic education, in order to seek the anticipated advantages of jobs in the country’s burgeoning urban-industrial sector. This large swath of off-farm migrants transformed China. It propelled China to the status of the ‘world’s factory’ and created the scale and accumulated learning-by-doing enabling China’s transition to a ‘knowledge economy’ that no longer depends on the labor of China’s new ‘Lost Generation.’ As the Lost Generation and its left-behind children, who suffer from a chronic lack of schooling, thicken the lower tail of China’s income distribution, it may be the rising, prosperous urban middle class that ultimately incurs the social, economic, and political challenges associated with China’s generation of off-farm migrant households once essential for launching China’s economic ascent.     

Basic Evaluation of the Process of China’s Industrial Modernization

I. Introduction The oretically, industrial modernization may bedescribed asa process in which modernityof industry is constantly enhanced and the traditional elements are steadily reduced. Interms of industrialdevelopment, it can bedefined asa process in which, pulled by modernscience and technology, rising industrial sectors have constantly emerged and grown andoriginalindustrialsectorshave undergonesustained changes and development,thusleadingto changes in industrial structure and a rise in …     

How does people’s liberation army related business closure affect the local economy?

People’s Liberation Army (PLA) related business was rampant in China in the 1980s and 1990s, and they significantly disrupted the local economy. However, due to limited data about PLAs, this issue is rarely investigated and thus the negative impact is hardly measured. In this paper we introduce a new proxy for measuring the approximate level of PLA related business in a specific city, PLA hospital score, to identify cities that are more affected by PLA related business closure. We then employ a difference-in-differences (DID) framework and show that PLA related business closure does bring positive effects to China’s local economy, about a 2% increase in GDP growth per year. We also find that this effect is more significant in cities with median economic size and cities that rely more on secondary and tertiary sectors. We finally provide a possible channel of this effect, which mainly works through providing a more efficient and competitive market to local private firms as well as an investment-friendly environment that attracts foreign investments.     

Fiscal Implications of the ECB’s Bond Buying Program

The perception that the government bond buying program (OMT) announced by the ECB may lead to future tax burdens on countries, in particular on Germany, is based on an erroneous application of solvency principles that apply to private agents, but not to central banks. We argue that the creditor nations’ taxpayers, in particular the German taxpayers, will receive tax revenue from the implementation of the OMT. We also measure the size of the bond-buying program that is compatible with price stability. It turns out that this estimate critically depends on whether the Eurozone stays in a liquidity trap situation or not. Today, as the Eurozone is still in a liquidity trap there is no limit to the amount of government bonds the ECB can buy without triggering inflation.     

Vertical balanced forecasting of the Ukrainian economy’s GDP

The predicted accuracy of forecasts of Ukraine’s socioeconomic development worked out by its Council of Ministers and research institutions is analyzed. In order to enhance the accuracy of the forecasts, which are currently based primarily on accounting information and expert appraisals, it is proposed to employ an interindustry balance based on the information collected bottom-up: “enterprise — corporations — ministries — Ministry of Economy”.     

Viability and the Development of China’s Capital Markets

I. Some Facts about Chinas Capital MarketsThe official stock markets of Mainland China were set up in Shanghai and Shenzhen respectivelyin1990 and 1991. The original intent was to improve the reform of Chinas SOEs. Theoretically,it was held that absence of owner is the main problem of SOEs; after being listed, the smallshareholders who buy stocks with their own money will care about the value of their assets, sothey will actively supervise the listed enterprises managers and thus the gov…     

The ‘Visible Hand’ of the ECB’s first quantitative easing

Quantitative easing à la ECB has produced significant impact on long-term nominal rates through ex ante channels, such as signalling channels, term duration channels, and risk premia channels, well before it materially started. Ex post difference-in-differences estimation suggests a significant impact on long-term government bond yields, while the impact of the ECB’s first QE on the key inflation rate is very weak. The term duration channel may also lead to a lengthening of the average maturity of government debts, with possible implications for fiscal policy. The ECB’s determination to buy government bonds in a fragmented market with a low net supply is also producing an ex post impact, i.e. during the actual asset purchases. High rates volatility suggests that this impact is less on nominal rates and more on financial plumbing. As the effects of scarce supply in collateral markets are felt, repo rates remain well below zero. Low supply and limited re-usability of high quality collateral, capped by regulatory requirements, is an additional constraint on market liquidity and compresses dealers’ balance sheets. By keeping a depressed yield curve and asset prices high, QE is also accelerating the consolidation of both traditional and capital-market based (dealer) bank business models, raising questions about implications for global collateral flows and deposit-like funding channels.     

Projections of Russia’s agricultural development under the conditions of climate change

This paper analyzes the possible impact of irrigation on the development of agriculture in the Volga River Basin and Black Sea Basin. Scenarios of the development of agriculture in Russia up to 2030 under the conditions of the expansion of irrigation and persistence of the current situation with irrigation have been calculated and analyzed based on the IMPACT-3 econometric partial equilibrium model.