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Impact of the US Reciprocal Tariffs on Emereging Economies: the case of BRICS

Summary The determination of tariff levels is based on the relative magnitude of trade deficits rather than equivalence in tax rate terms. Under the USTR’s ideal assumptions, eco...

Posted by David Marx on April 3, 2025

Historical Overcapacity in the U.S. Steel Industry

Recently, there have been a lot of analyses on China’s electric vehicles and other areas of capacity expansion, overcapacity, and volumetric competition. Most opinions view this as “abnormal” econo...

Posted by David Marx on January 11, 2025

The Mission, Principles, and Focus of Multilateral Development Institutions established by Developing Countries

*Note by the author: * Cooperation among developing countries is on the rise, which will require multilateral institutions established by developing countries to shoulder inceasing responsibilitie...

Posted by David Marx on October 17, 2024

Reflections on the book 'The Marshall Plan'

This is an AI translated version of this Chinese article The Marshall Plan is a term I encountered in junior high history class, remembered as the American aid plan to counter the Soviet Union. In...

Posted by David Marx on September 30, 2024

Intra-BRICS Trade: Production-Orientation, Rise of Capital Goods, and Potential for Further Cooperation

How Much of Intra-BRICS Trade is Production-Oriented? How Much of the BRICS Countries’ Trade in Production Goods Comes from Other BRICS Countries? China’s Capital Goods: A Major Bolster of ...

Posted by David Marx on May 31, 2024

Construction Machinery Exports, Developing Economies' Markets, and the Internationalization of RMB

Construction Machinery: a field indispensable for development which used to be dominated by firms of advanced economies China’s rise as a major global construction machinery exporter in the p...

Posted by David Marx on January 18, 2024

Capital Account Opening is Not a Prerequisite for Enhancing RMB’s Role as an International Currency, at Least for Now

The trade settlement path of RMB’s Internationalization Supports from offshore RMB markets Supports from central bank bilateral currency swaps RMB already recognized as a “freely usable” ...

Posted by David Marx on November 2, 2023

The Plots behind Bretton Woods

Sabotaging the economic hegemony of the British Empire: An America Dream in the 1930s A Concealed Blade in the Helping Hand Development Reaffirmed as a Top Priority ...

Posted by David Marx on August 1, 2023

A Glimpse at China’s Development Strategies: 2023-2027

CPC National Congress lays out China’s fundamental development strategies China’s Overall Development Road Map: From Three-Steps to Two-Steps Development Reaffirmed as...

Posted by David Marx on November 1, 2022

Development Financing via Emerging Market Currencies in A High-Interest US Dollar Environment

The U.S. dollar interest rates have been rising rapidly since 2022, while they are unlikely to return to the ultra-low levels seen in 2020-2021 in the near term. Rising interest rates are pu...

Posted by David Marx on October 10, 2022

China’s Local Government Project Bonds: Hidden Debt Behind Project Equity May Impair Financing Sustainability

Introduction Adequate project income coverage for LG-PBs’ repayment Implicit Debt embedded in PIEs’ Equity Contribution May Impair Financial Sustainability E...

Posted by David Marx on September 1, 2022

Debt Accumulation Behind China's Urban Infrastructure Investment Rally: The Case of Lanzhou

Introduction Lanzhou’s Impressive Urban Infrastructure Improvement since 2012 Debt Accumulation Behind Urban Infrastructure Debt pressure mounting for City C...

Posted by David Marx on June 29, 2022

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