Preface |
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Chapter 1 Overestimated Trade Surplus |
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1 | (34) |
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1.1 Rapid Development of the Sino-U.S. Bilateral Trade |
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2 | (3) |
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1.2 Why Trade Deficit in U.S. Statistics is Higher than that in Chinese Statistics? |
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5 | (4) |
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1.3 Co-existence of Surplus and Deficit |
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9 | (4) |
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1.4 Repeated Calculation of Processing Trade in Customs Statistics |
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13 | (4) |
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1.5 Theoretical Model of the Value-added Approach |
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17 | (5) |
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1.6 Difference in Calculating China's Trade between the Customs Frontier Method and the Value-added Approach |
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22 | (11) |
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1.7 Keeping Pace with the Times and Reforming the Foreign Trade Statistical Method |
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33 | (2) |
Chapter 2 On Trade Surplus from Property Rights |
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35 | (24) |
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2.1 Distinguishing between Capital Flow and Logistics in the International Trade |
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36 | (4) |
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2.2 Competitive and Non-competitive InputOutput Tables |
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40 | (2) |
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2.3 Shares of the Domestic and Foreign Capitals in Non-labor Compensation in Processing Trade |
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42 | (4) |
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2.4 Distinguishing Capital Flow by Country |
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46 | (9) |
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2.5 Sino-American Trade Surplus |
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55 | (4) |
Chapter 3 Interpreting the Economic Scale of China |
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59 | (44) |
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3.1 Two Methods of Calculating the GDP |
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60 | (2) |
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3.2 Limitations of Calculating the GDP using the Atlas Method |
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62 | (5) |
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3.3 Advantages and Limitations of the PPP |
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67 | (3) |
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3.4 Distorted Proportion of the Service Industry |
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70 | (3) |
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3.5 Reasons for the Underestimation of the Service Industry |
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73 | (5) |
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3.6 Estimate of the Proportion of the Service Industry in the GDP of China |
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78 | (13) |
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3.7 Processing the Depth Coefficient Method for Estimating the GDP |
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91 | (2) |
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3.8 Avoiding the Quality Difference |
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93 | (1) |
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3.9 Value-Added in the Manufacturing Process |
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94 | (1) |
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3.10 Virtual Output Value of Raw Materials |
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94 | (4) |
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3.11 Processing Depth Coefficient |
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98 | (2) |
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3.12 The Bottom Line and the Possible Range of the GDP of China |
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100 | (3) |
Chapter 4 Foreign Trade Dependence and Trade Weighted Method |
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103 | (28) |
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4.1 Debate Caused by Foreign Trade Imbalance |
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104 | (3) |
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4.2 Four Errors Affecting China's Foreign Trade Statistics |
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107 | (2) |
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4.3 Influence of Two GDP Statistical Methods on the FTD |
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109 | (4) |
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4.4 Proportion of the Current Account in the GDP |
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113 | (1) |
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4.5 International Comparison of Degree of Foreign Trade Imbalance |
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113 | (4) |
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4.6 Adjusting the Current Account According to Property Rights |
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117 | (1) |
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4.7 Adjusting the GDP according to the Proportion of the Service Industry |
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118 | (2) |
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4.8 Double Correction of the Import and Export Data |
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120 | (5) |
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4.9 International Comparison of China's FTD |
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125 | (6) |
Chapter 5 The Standard in Judging the Exchange Rate |
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131 | (16) |
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5.1 Different Opinions on the Exchange Rate |
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132 | (1) |
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5.2 Basis for Judging the Exchange Rate |
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133 | (3) |
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5.3 Calculating the Equilibrium Exchange Rate According to Money Market and Import and Export Market Equilibrium |
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136 | (2) |
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5.4 Calculating the Equilibrium Exchange Rate According to Trade Equilibrium |
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138 | (2) |
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5.5 No Nash Equilibrium in the Foreign Exchange Market |
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140 | (2) |
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5.6 Different Conclusions based on Different Methods |
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142 | (2) |
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5.7 Market: The Touchstone for Judging Distortion of Exchange Rate |
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144 | (3) |
Chapter 6 Stabilizing the Currency and Manipulating the Exchange Rate |
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147 | (38) |
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6.1 Who Determines the Exchange Rate? |
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148 | (2) |
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6.2 Selection of the Exchange Rate System |
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150 | (3) |
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6.3 The Central Bank's Duty is to Stabilize the Value of Currency |
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153 | (6) |
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6.4 What is a Currency Manipulator? |
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159 | (6) |
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6.5 The RMB is in the Appreciation Channel |
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165 | (2) |
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6.6 Internal Contradiction between Price Stability and Exchange Rate |
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167 | (7) |
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6.7 Excessive Liquidity and the Money Lake |
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174 | (11) |
Chapter 7 Origin and Development of the High Savings Rate |
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185 | (58) |
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7.1 China's High Savings Rate Causes Problems |
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186 | (2) |
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7.2 China's High Savings Rate |
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188 | (2) |
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7.3 Savings and Economic Growth Stage |
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190 | (3) |
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7.4 Three Parts of Total Savings: Household, Enterprise, and Government Savings |
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193 | (4) |
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7.5 Why is the Enterprise Savings Rate Remarkably High? |
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197 | (2) |
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7.6 Why is the Government Savings Rate Remarkably High? |
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199 | (8) |
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7.7 Causes of the High Household Savings Rate |
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207 | (12) |
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7.8 Is the Savings Rate Attributable to the High Housing Price? |
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219 | (5) |
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7.9 The First-generation Effect of Savings |
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224 | (5) |
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7.10 Empirical Study of the Savings Rate |
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229 | (11) |
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7.11 Never be Misled by Others to Exceed the Proper Limits in Correcting a Mistake |
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240 | (3) |
Chapter 8 Computable General Equilibrium Model for Exchange Rate Research |
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243 | (20) |
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8.1 Compromise and Quantification |
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244 | (2) |
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8.2 Five Stages of the Mathematical Model |
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246 | (2) |
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8.3 Partial Equilibrium and General Equilibrium |
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248 | (2) |
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250 | (6) |
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8.5 Avoiding the Double Account in Calculating Processing Trade |
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256 | (3) |
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8.6 The Database Reflecting the Valued-added Distribution in the Global Production Chain |
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259 | (1) |
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8.7 Use of the CGE Model to Study the Exchange Rate Adjustment |
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260 | (3) |
Chapter 9 Effect of the Exchange Rate on Employment |
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263 | (42) |
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9.1 High Unemployment Rate: A Difficult Problem for the U S |
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264 | (2) |
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9.2 The Obama Government's Countermeasures to Increase Employment Opportunities |
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266 | (6) |
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9.3 Shifting the Target to Frame China |
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272 | (5) |
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9.4 Main Reasons for the High Unemployment Rate in the U.S. |
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277 | (2) |
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9.5 Analysis of the Relationship between Exchange Rate and Employment from the Perspective of System Engineering |
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279 | (6) |
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9.6 Unemployment and the Industrial Transfer |
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285 | (5) |
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9.7 Different Effects on Different Industries |
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290 | (2) |
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9.8 Effect of the Exchange Rate Adjustment on the Unemployment Rate of Different Industries |
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292 | (2) |
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9.9 Effect of the Exchange Rate Adjustment on Employment in Processing Trade and General Trade |
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294 | (4) |
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9.10 Effect of the Exchange Rate Adjustment on the Employment of Industrial Departments with Different Science and Technology Contents |
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298 | (1) |
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9.11 Will the RMB Appreciation Reduce the U.S. Unemployment Rate? |
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299 | (6) |
Chapter 10 The Impact of the Exchange Rate Adjustment on Import and Export |
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305 | (44) |
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10.1 The RMB Exchange Rate and the U.S. Trade Deficit |
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306 | (3) |
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10.2 Effect of the RMB Appreciation on the Import and Export Volumes of Different Economies |
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309 | (6) |
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10.3 Effect of the RMB Appreciation on General Trade and Processing Trade |
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315 | (6) |
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10.4 Effect of the RMB Appreciation on the Manufacturing Industries of Different Science and Technology Contents |
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321 | (7) |
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10.5 Three Groups of Competitors |
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328 | (14) |
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10.6 Ways to Narrow the U.S. Trade Deficit |
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342 | (2) |
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10.7 Is the International Trade Really Distorted? |
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344 | (5) |
Chapter 11 Range and Path of the RMB Appreciation |
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349 | (12) |
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11.1 Path Choice for the RMB Appreciation |
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350 | (1) |
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11.2 Dynamic Simulation of the Effect of Different Exchange Rate Appreciation Ranges on China's Labor Market |
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351 | (4) |
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11.3 Dynamic Simulation of the Effect of Different Ranges of Appreciation on China's Imports and Exports |
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355 | (1) |
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11.4 Dynamic Simulation of the Effect of Different Ranges of Appreciation on China's Domestic Production |
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356 | (5) |
Chapter 12 Economic Sanctions and Free Trade |
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361 | (68) |
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12.1 Origin and Evolution of the Trade War |
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363 | (14) |
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12.2 Means to Impose Economic Sanctions |
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377 | (2) |
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12.3 Probability of Success of Economic Sanctions |
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379 | (3) |
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12.4 Six Commandments of Trade War |
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382 | (12) |
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394 | (2) |
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12.6 Different Logics on Dealing with a Trade War |
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396 | (3) |
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12.7 CGE Model Simulating a Trade War |
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399 | (2) |
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12.8 Scenarios of a Trade War |
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401 | (1) |
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12.9 Impact of a Trade War on Global Trade |
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402 | (8) |
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12.10 Impact of a Trade War on GDP and Employment |
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410 | (3) |
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12.11 A Trade War is Not Good for Anyone |
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413 | (4) |
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12.12 Possibility of a Trade War between the U.S. and China |
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417 | (6) |
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12.13 ChinaU.S. Free Trade Agreement |
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423 | (6) |
Chapter 13 The Debate is Far From Over |
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429 | (16) |
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13.1 Focus of Dispute on the RMB Exchange Rate |
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429 | (1) |
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13.2 Fictitious Foreign Trade Imbalance |
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430 | (4) |
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13.3 Stabilizing the Currency and Manipulating the Exchange Rate |
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434 | (2) |
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13.4 Origin, Advantages, and Disadvantages of High Savings Rate |
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436 | (2) |
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13.5 Impact of RMB Appreciation on Employment and Foreign Trade |
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438 | (4) |
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13.6 A WinWin Free Trade Agreement is Better than a LoseLose Trade War |
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442 | (3) |
References |
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445 | (8) |
Index |
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