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In each of the three waves of the Section 301 tariffs on Chinese imports, the US government exempted some products on the originally proposed list from additional duties. Using these exempted products as the counterfactual, we identify modest but heterogeneous impacts of the tariffs on the value of US imports from China. We find a complete pass-through for the first and second waves of tariffs. However, unlike in previous studies, we estimate a very limited tariff pass-through of the third wave of tariffs. Finally, we find little import diversion for the US and significant export diversion for China.

Journal Publisher
Canadian Journal of Economics
Authors
Hong Ma
Lingsheng Meng
Lingsheng Meng
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Big Data China logo

The event will be webcast live from this page.

In this event on February 7 at 8 a.m. PT / 11 a.m. ET, the Stanford Center on China’s Economy and Institutions (SCCEI) and the CSIS Trustee Chair in Chinese Business and Economics present their latest Big Data China publication. The feature provides an overview of the latest data-driven research evaluating the influence of the Chinese party-state on Chinese corporations and their ability to maintain autonomy.

CSIS Trustee Chair Director Scott Kennedy will host the event, which will include an introduction by Professor Scott Rozelle of Stanford University. Professors Curtis Milhaupt of Stanford Law School and Lauren Yu-Hsin Lin of the City University of Hong Kong School of Law will discuss their research on the topic, followed by a discussion on the implications for U.S.-China relations and U.S. policy with distinguished panellists Barry Naughton of UC San Diego, Martin Chorzempa of the Peterson Institute for International Economics, and CSIS Trustee Chair Senior Fellow Ilaria Mazzocco.
 

WATCH THE EVENT RECORDING

FEATURING

Scott Kennedy 
Senior Adviser and Trustee Chair in Chinese Business 
and Economics
Ilaria Mazzocco 
Senior Fellow, Trustee Chair in Chinese Business and Economics
Scott Rozelle 
Co-director at Stanford Center on China's Economy 
and Institutions
Barry Naughton 
So Kwan Lok Chair of Chinese International Affairs, UC San Diego
Curtis J. Milhaupt 
William F. Baxter-Visa International Professor of Law, Stanford Law School
Lauren Yu-Hsin Lin 
Associate Professor, School of Law, City University of Hong Kong
Martin Chorzempa 
Senior Fellow, Peterson Institute for International Economics
 
  

EVENT PARTNERS
 

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SCCEI and CSIS logos

Virtual Livestream 

Martin Chorzempa
Scott Kennedy
Ilaria Mazzocco
Curtis J. Milhaupt
Barry Naughton
Scott Rozelle
Lauren Yu-Hsin Lin
Panel Discussions
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The Stanford Center on China’s Economy and Institutions and Asia Society Policy Institute’s Center for China Analysis co-organized a closed-door roundtable on the scope, impact, and implications of China’s industrial policy. The roundtable focused on an intensified round of industrial policies in China that gained momentum around 2014. Beijing announced its “Made in China 2025” plan in 2015, quickly followed by its 2016 “Innovation-driven Development Strategy.” The strategy specifically focused on the emerging technological revolution, targeting sectors such as next generation information technology, advanced manufacturing, biotechnology, and digital media. 

Since the announcements, industrial policy has increasingly become a central feature of Chinese economic development efforts and ongoing public debates about the future of U.S.-China competition and the global economic and geopolitical order. Around the world, effectiveness of national industrial policies has become a key point of policy and political contention. In addition, carefully judging the impact of Beijing’s industrial policy is also now critical to accurately assessing the long-term performance and sustainability of China’s economic growth model.

The full report on the roundtable, conducted under the Chatham House Rule, recounts a candid discussion that coalesced around the examination of five key questions:

  1. How much is China spending on industrial policy?
  2. What are the possible objectives of China’s industrial policy?
  3. What have been the effects of China’s industrial policy?
  4. What are the key, open questions still remaining around China’s industrial policy?
  5. What are the implications for Washington, D.C. and the international community?

 


 

In partnership with Asia Society Policy Institute's Center for China Analysis

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The Stanford Center on China’s Economy and Institutions and Asia Society Policy Institute’s Center for China Analysis co-organized a closed-door roundtable on the scope, impact, and implications of China’s industrial policy and produced a summary report of the discussion.

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Visiting Scholar at APARC, 2022-23
Global Affiliate Visiting Scholar, 2024
Yamauchi-No. 10 Family Office
banjo_yamauchi.jpg

Banjo Yamauchi joins the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) as Visiting Scholar for the 2023 calendar year. He serves as the CEO and family representative for the Yamauchi-No.10 Family Office as well as Executive Director of the Yamauchi Foundation in Japan. While at APARC, he will be conducting research with Professor Kiyoteru Tsutsui on investment, incubation, and philanthropy in Silicon Valley and Japan.

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Big Data China logo

The event will be webcast live from this page.


In this event on December 9 at 7 a.m. PT / 10 a.m. ET, the Stanford Center on China’s Economy and Institutions (SCCEI) and the CSIS Trustee Chair in Chinese Business and Economics present their latest Big Data China publication. The feature “Have U.S.-China Tensions Hurt American Innovation?” highlights the work of professors Ruixue Jia and Molly Roberts (University of California San Diego) and investigates the effects of U.S. policies toward China on academic collaboration between the two countries.

Trustee Chair Senior Fellow Ilaria Mazzocco will host the event, which will include an introduction by Professor Scott Rozelle of Stanford University. Professors Molly Roberts and Ruixue Jia of UC San Diego will discuss their research on the topic, followed by a discussion on the implications for U.S.-China relations and U.S. policy with distinguished panelists James Mulvenon of Peraton Labs, Deborah Seligsohn of Villanova University, and Abigail Coplin of Vassar College.  

FEATURING

Scott Rozelle 
Co-director at Stanford Center on China's Economy and Institutions
Molly Roberts 
Associate Professor of Political Science, UC San Diego
Ruixue Jia 
Associate Professor of Economics, 
UC San Diego
Abigail Coplin 
Assistant Professor of Sociology and Science, Technology and Society, 
Vassar College
James Mulvenon 
Scientific Research and Analysis, Peraton Labs
Ilaria Mazzocco 
Senior Fellow, Trustee Chair in Chinese Business and Economics
Deborah Seligsohn 
Senior Associate (Non-resident), Trustee Chair in Chinese Business and Economics
 
  

EVENT PARTNERS
 

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SCCEI and CSIS logos

Virtual Livestream 

Abigail Coplin
Ruixue Jia
Ilaria Mazzocco
James Mulvenon
Molly Roberts
Scott Rozelle
Deborah Seligsohn
Panel Discussions
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Big Data China logo
The event will be webcast live from this page.


In this event on October 14 at 8 a.m. PT / 11 a.m. ET, the Stanford Center on China’s Economy and Institutions (SCCEI) and the CSIS Trustee Chair in Chinese Business and Economics present their latest Big Data China publication. The feature provides an overview of what the latest data-driven research says about the impact of trade with China on employment trends in the United States. It also provides a comparative analysis with other countries. The analysis shows that there are various interpretations on the topic with important policy implications.

Trustee Chair Director Scott Kennedy will host the event, which will include an introduction by Professor Scott Rozelle of Stanford University. Professors André Kurmann of Drexel University and Zhi Wang of George Mason University will discuss their research on the topic, followed by a discussion on the implications for U.S.-China relations and U.S. policy with distinguished panelists Anna Ashton of the Eurasia Group and Jeremie Waterman of the U.S. Chamber of Commerce. 
 

WATCH THE RECORDING

FEATURING

Scott Rozelle 
Co-director at Stanford Center on China's Economy and Institutions
Jeremie Waterman 
President, China Center, U.S. Chamber of Commerce
André Kurmann  
Professor of Economics, LeBow College of Business, Drexel University
Anna Ashton 
Director, China Corporate Affairs and U.S.-China, Eurasia Group
Zhi Wang 
Senior Policy Fellow, Schar School of Policy and Government, George Mason University
Scott Kennedy 
Senior Adviser and Trustee Chair in Chinese Business and Economics
  

EVENT PARTNERS
 

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SCCEI and CSIS logos

Virtual Livestream 

Anna Ashton
Scott Kennedy
André Kurmann
Scott Rozelle
Jeremie Waterman
Zhi Wang
Panel Discussions
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Adam Liu Poster

The Henan bank protest, the Evergrande crisis, and the ongoing local government debt issue in China all point to one thing: there’s something wrong with the country’s banking system. Beijing needs to better regulate the numerous small banks that are now intimately intertwined with much of China's economic challenges. 

They’re working on it, but there’s no easy solution.

Adam Y. Liu will tell us the origins of the dilemma, the increasing role of small banks in China and local development, and what tradeoffs China will likely have to make to prevent a run-away banking crisis.

Speaker

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Adam Liu Headshot
Adam Y. Liu is assistant professor at the Lee Kuan Yew School of Public Policy, National University of Singapore. His main research interests include Chinese politics and political economy. He is currently working on a book project that explores how central-local politics drove the formation, expansion, and operation of what he calls a "state-owned market" in China's banking sector. The project is based on his dissertation, which won the 2020 BRICS Economic Research Award. He received his Ph.D. in political science from Stanford University and was a postdoctoral associate with the Leitner Program in International and Comparative Political Economy at Yale University. 

Jean C. Oi

Virtual event via Zoom

Adam Y. Liu
Seminars

Shorenstein APARC
Stanford University
Encina Hall, E301
Stanford,  CA  94305-6055

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Visiting Scholar at APARC, 2022-23
Nirvikar_Singh.jpg
Ph.D.

Professor Nirvikar Singh joined the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) as a Visiting Scholar for the 2022-2023 academic year. Singh serves as a Distinguished Professor in Economics at the University of California, Santa Cruz. While at APARC, he researched the political economic dynamics of India and the role of innovation in driving economic growth, especially in Asia.

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This is a virtual event. Please click here to register and generate a link to the talk. 
The link will be unique to you; please save it and do not share with others.

 

The fundamental reason for the extreme leverage today in China’s banks, enterprises and the state itself is found in the decentralized fiscal arrangements of highly self-reliant local governments. This problem has been compounded by the excessive stimulus lending over the past decade. As a result Beijing has promoted the creation of an extensive shadow banking system designed to protect the stability of the major state banks. Stepping back this has led to the state’s growing leverage. This presentation focuses on the impact of the shadow banking system on the state’s finances and compares the costs of China’s response to the global financial crisis with the US response.



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Portrait of Carl Walter
Carl Walter joins the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) as visiting scholar with the China Program for the 2021-2022 academic year. Prior to coming to APARC, he served as independent, non-executive Director at the China Construction Bank. He was also previously a visiting scholar with APARC during the winter and spring terms of the 2012–13 academic year after a career in banking spent largely in China. 

His research interests focus on China's financial system and its impact on financial and political organizations. During his time at Shorenstein APARC Walter will continue his book project on how fiscal reforms in China have impacted the banking system, the overall economy and the prospect for financial reform going forward. Walter has contributed articles to publications including Caijing, the Wall Street Journal and the China Quarterly. He is also the co-author of Red Capitalism: The Fragile Financial Foundations of China's Extraordinary Rise (2012) and Privatizing China: Inside China's Stock Markets (2005).

Walter lived and worked in Beijing from 1991 to 2011, first as an investment banker involved in the earliest SOE restructurings and overseas public listings, then as chief operation officer of China's first joint venture investment bank, China International Capital Corporation. Over the last ten years he was JPMorgan's China chief operating officer as well as chief executive officer of its China banking subsidiary.

Walter holds a PhD in political science from Stanford University, a certificate of advanced study from Peking University and a BA in Russian Studies from Princeton University.

 


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Chinese 100 yuan bills

This event is part of the 2022 Winter webinar series, The Future of China's Economy, sponsored by the APARC China Program.

 

Via Zoom Webinar. Register at: https://bit.ly/3rC581k

Carl Walter Visiting Scholar, Shorenstein Asia-Pacific Research Center, Stanford University
Seminars
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This event will offer simultaneous translation between Japanese and English. 
当イベントは日本語と英語の同時通訳がついています。

This is a virtual event. Please click here to register and generate a link to the talk. 
The link will be unique to you; please save it and do not share with others.
当イベントはZoomウェビナーで行われます。ウェビナーに参加するためには、こちらのリンクをクリックし、事前登録をして下さい。

March 1, 5-6:30 p.m. California time/ March 2, 10-11:30 a.m. Japan time

This event is part of the 2022 Japan Program Winter webinar series, The Future of Social Tech: U.S.-Japan Partnership in Advancing Technology and Innovation with Social Impact

 

The challenges of climate change require solutions on multiple fronts, one of which is technological innovation. Attempts for innovation for new energy sources have been ongoing in many parts of the world, and Japan has produced a number of new technologies. This session will focus on two of the most promising innovations coming out of Japan, biofuel and hydrogen energy, and assess their promises and challenges, highlighting technological, regulatory, and business aspects of developing new technologies. Where do these technologies fit in the energy portfolio that would address the issues of climate change and what can Japan and the United States do to collaboratively solve the key problems in advancing these technologies further? Three leading experts in the field will discuss these questions that would shape the future of climate change. 

 

Panelists

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Headshot photo of Mitsuru Izumo
Mitsuru Izumo is a graduate of the University of Tokyo, having specialised in agricultural structural
management. In 2005, he established Euglena Co., Ltd. to harness the properties of microalgae
Euglena. Euglena Co., Ltd. became the world’s first biotechnology company that succeeded in the
outdoor mass cultivation of Euglena. Currently, Euglena Co., Ltd upholds “Sustainability First” as
their philosophy and has developed the manufacture and sale of foods and cosmetics as the
healthcare domain, the biofuel business, the bioinformatics business, and the social business in
Bangladesh by leveraging Euglena and other advanced technologies.

 

 

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Headshot photo of Eiji Ohira
Eiji Ohira is the Director General of the New Energy and Industrial Technology Development Organization (NEDO)’s Fuel Cell and Hydrogen Technology Office In this capacity, he is responsible for the overall strategy, execution and coordination of NEDO’s research, development and demonstration project on fuel cell and hydrogen.

He has also coordinated fuel cell and hydrogen activities with international stakeholders, through International Energy Agency’s Technology Collaboration Program (IEA TCP: Advanced Fuel Cell & Hydrogen), and International Partnership for Hydrogen and Fuel Cells in the Economy (IPHE). 

He joined the NEDO in 1992, just after graduation from the Tokyo University of Science. He served as a visiting scholar at the Massachusetts Institute of Technology in 1997-1998.

 

Moderator

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Headshot photo of Kate Hardin
Kate Hardin, Deloitte Executive Director for Energy and Industrials Research, has worked in the energy industry for 25 years.  She currently leads Deloitte research on the impact of the energy transition on the energy and industrial manufacturing sectors. Before that, Kate led integrated coverage of transportation decarbonization and the implications for the oil, gas, and power sectors.  Kate has also developed global energy research for institutional investors and has led analysis of Russian and European energy developments.  Kate recently served as an expert in residence at Yale’s Center for Business and Environment, and she is also a member of the Council on Foreign Relations.  





 

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Shorenstein APARC Winter 2022 Speaker Series Icon with text "New Frontiers: Technology, Politics, and Society in the Asia-Pacific"
This event is part of the 2022 Winter webinar series, New Frontiers: Technology, Politics, and Society in the Asia-Pacific, sponsored by the Walter H. Shorenstein Asia-Pacific Research Center.

Via Zoom Webinar
Register:  https://bit.ly/3LuNa94

 

 

Mitsuru Izumo <br>Founder and President, Euglena Co Ltd.<br><br>
Eiji Ohira <br>Director General of Fuel Cell and Hydrogen Technology Office, Japan New Energy and Industrial Technology Development Organization (NEDO) <br><br>
Kate Hardin <br>Executive Director, Deloitte Research Center for Energy & Industrials
Panel Discussions
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