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Upcoming Event

Feb
9
12:30

Financing the Belt and Road Initiative

The Belt and Road initiative, recently embarked on by China, aims to improve cross-border infrastructure in order to reduce transportation costs across a massive geographical area between China and Europe.

Speakers: Alicia García-Herrero, Mingxi Sun and Jianwei Xu Topic: Global Economics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels
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Blog Post

Alicia García-Herrero
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Is the UK’s role in the European supply chain at risk?

Will tge UK’s engagement in European supply chains be at risk once the UK exits the EU?

By: Alicia García-Herrero and Jianwei Xu Topic: European Macroeconomics & Governance Date: December 20, 2016
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Blog Post

Alicia García-Herrero
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UK-China agreement on trade in services is no substitute for a UK-EU deal

The UK government has high hopes that new trade deals with non-EU states will offer an economic boost after Brexit. But how likely is this to materialise? The authors show that a FTA with China is unlikely to offer much to the UK's prominent services sector. Strong links with the EU will remain vital.

By: Alicia García-Herrero and Jianwei Xu Topic: Global Economics & Governance Date: December 6, 2016
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Opinion

Alicia García-Herrero

Japanese banks and US$ liquidity: Squeezed between expensive deposits and the BoJ

For the last few years, Japanese banks have aggressively expanded their assets overseas, which has helped increased their stubbornly low profitability even after the introduction of negative interest rates by BoJ. Such a successful overseas strategy, profitability-wise, may be at risk due to US$ liquidity developments at a global level.

By: Alicia García-Herrero Topic: Global Economics & Governance Date: November 28, 2016
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Opinion

Alicia García-Herrero

South Korea and Indonesia: a capital match

Mutually beneficial Jakarta-Seoul relationship could develop further with an upgrade in Jakarta’s sovereign debt.

By: Alicia García-Herrero Topic: Finance & Financial Regulation, Global Economics & Governance Date: November 23, 2016
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Blog Post

Alicia García-Herrero
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Trump could give new impetus to EU-China relations

It is too early to say what the Trump administration’s trade policy will look like – but a total cut-off from Asian partners is unlikely. It would harm the US economy, and offer China even more scope to cement its position in Asia. Nevertheless, with TPP and TTIP both looking unlikely, the EU should move fast to build relationships with China and ASEAN countries.

By: Alicia García-Herrero and Jianwei Xu Topic: Global Economics & Governance Date: November 15, 2016
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Policy Contribution

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What consequences would a post-Brexit China-UK trade deal have for the EU?

A China-UK free trade agreement has been extensively discussed since the UK’s vote for Brexit. Many supporters of Brexit argue that the UK’s regained flexibility to strike trade deals with other partners, and in particular with China given its economic size, will be a key advantage. This analysis indicates that a China-UK FTA will be neither as easy nor as clearly advantageous as portrayed by Brexit supporters.

By: Alicia García-Herrero and Jianwei Xu Topic: Global Economics & Governance Date: October 7, 2016
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Opinion

Alicia García-Herrero

The yuan's SDR entry is more symbolism than substance

The yuan's official entry into the International Monetary Fund's basket of reserve currencies on Oct. 1 raised expectations that central banks all over the world would be scrambling to stock up on Chinese money. But the reality is far from that.

By: Alicia García-Herrero Topic: Global Economics & Governance Date: October 7, 2016
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Opinion

Alicia García-Herrero

China's state-owned enterprises reform still lacking bite

China has gone through a remarkable transformation in recent decades but tough reforms have become rare, especially since the global financial crisis. Among the many reforms announced since President Xi Jinping's administration took office in March 2013, the most significant for China's economic outlook undoubtedly will be the reform of state-owned enterprises (SOEs).

By: Alicia García-Herrero Topic: Global Economics & Governance Date: October 4, 2016
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Blog Post

Alicia García-Herrero
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What does China’s ‘belt and road initiative’ mean for EU trade?

Much has been written about the Belt and Road initiative since Xi Jinping made it Beijing’s flagship initiative in September 2013. There are many interpretations of the initiative’s ultimate objectives, but one objective is clear. The belt and road scheme will bring huge improvements in regional and international connectivity through infrastructure upgrades and trade facilitation across a massive geographic area.

By: Alicia García-Herrero and Jianwei Xu Topic: Global Economics & Governance Date: September 20, 2016
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Working Paper

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China’s Belt and Road initiative: can Europe expect trade gains?

The Belt and Road aims to ease bottlenecks for cross-border trade in Asia, Europe and Africa. This paper measures empirically whether the reduction in transportation costs will have a positive impact on trade flows for Belt and Road countries and for EU countries. The authors also explore the possibility that the Belt and Road may eventually go beyond its current objectives towards the creation of a free trade area.

By: Alicia García-Herrero and Jianwei Xu Topic: Global Economics & Governance Date: September 5, 2016