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The Art of Resistance
The Art of Resistance surveys the lives of seven painters—Ding Cong (1916–2009), Feng Zikai (1898–1975), Li Keran (1907–89), Li Kuchan (1898–1983), Huang Yongyu (b. 1924), Pan Tianshou (1897–1971), and Shi Lu (1919–82)—during China’s Cultural Revolution (1966–1976), a time when they were considered counterrevolutionary and were forbidden to paint. Drawing on interviews with the artists and their families and on materials collected during her visits to China, Shelley Drake Hawks examines their painting styles, political outlooks, and life experiences. These fiercely independent artists took advantage of moments of low surveillance to secretly “paint by candlelight.” In doing so, they created symbolically charged art that is open to multiple interpretations. The wit, courage, and compassion of these painters will inspire respect for the deep emotional and spiritual resonance of Chinese art. Art History Publication Initiative. For more information, visit http://arthistorypi.org/books/art-of-resistance
Advanced Functional Materials
This proceedings volume gathers selected papers presented at the Chinese Materials Conference 2017 (CMC2017), held in Yinchuan City, Ningxia, China, on July 06-12, 2017. This book covers a wide range of metamaterials and multifunctional composites, multiferroic materials, amorphous and high-entropy alloys, advanced glass materials and devices, advanced optoelectronic and microelectronic materials, biomaterials, deformation behavior and flow units in metastable materials, advanced fibers and nano-composites, polymer materials, and nanoporous metal materials. The Chinese Materials Conference (CMC) is the most important serial conference of the Chinese Materials Research Society (C-MRS) and has...
Japan's Economic Revival
This book focuses on Japan's recent recovery from a decade-long stagnation, with particular attention to the unfinished policy agenda and the international spillovers of Japan's policies, through background studies (both analytical and descriptive) by IMF economists.
Changing Patterns of Global Trade
The past few decades have seen important shifts that have reshaped the global trade landscape. As a share of global output, trade is now at almost three times the level in the early 1950s, in large part driven by the integration of rapidly growing emerging market economies (EMEs). The expansion in trade is mostly accounted for by growth in noncommodity exports, especially of high-technology products such as computers and electronics. It is also characterized by a growing role of global supply chains and an ongoing shift of technology content toward EMEs. These developments in global trade have been associated with growing trade interconnectedness and carry important implications for trade patterns, in particular in response to relative price changes. The aim of this paper is to outline the factors underlying these changes and analyze their implications for the outlook for global trade patterns.
IMF Staff Papers, Volume 51, No. 3
This paper tests uncovered interest parity (UIP) using interest rates on longer maturity bonds for the Group of Seven countries. These long-horizon regressions yield much more support for UIP—all of the coefficients on interest differentials are of the correct sign, and almost all are closer to the UIP value of unity than to zero. The paper also analyzes the decision by a government facing electoral uncertainty to implement structural reforms in the presence of fiscal restraints similar to the Stability and Growth Pact.
Aftershock
The financial crisis brought the world to the brink of economic breakdown. Now bankers' bonuses are back, house prices are rising again and politicians promise recovery while unemployment rises, frictions with China grow and the planet overheats. Is this really sustainable? In this incisive assessment of the post-crisis world, Philippe looks at what went wrong, and how the world's leaders and financial institutions can learn from their disastrous mistakes. Reporting first-hand from around the world, he explains how the world economy is being reshaped and what it means for jobs and our future prospects. He sets out the huge dangers ahead - and the opportunities to craft a fairer, safer, richer and greener world in this wide-ranging, brilliant and impassioned book.
India’s Recent Macroeconomic Performance
The macroeconomic policy response in India after the North Atlantic financial crisis (NAFC) was rapid. The overshooting of the stimulus and its gradual withdrawal sowed seeds for inflationary and BoP pressures and growth slowdown, then exacerbated by domestic policy bottlenecks and volatility in international financial markets during mid-2013. Appropriate domestic oil prices and fiscal consolidation will contribute to the recovery of private sector investment. Fiscal consolidation would also facilitate a reduction in inflation, which would moderate gold imports and favorably impact real exchange rate and current account deficit.
China's Growing Role in World Trade
In less than three decades, China has grown from playing a negligible role in international trade to being one of the world's largest exporters, a substantial importer of raw materials, intermediate outputs, and other goods, and both a recipient and source of foreign investment. Not surprisingly, China's economic dynamism has generated considerable attention and concern in the United States and beyond. While some analysts have warned of the potential pitfalls of China's rise—the loss of jobs, for example—others have highlighted the benefits of new market and investment opportunities for US firms. Bringing together an expert group of contributors, China's Growing Role in World Trade under...
Are Chinese Exports Sensitive to Changes in the Exchange Rate?
Builds a model of two types of Chinese exports, those processed and assembled from imported inputs ("processed" exports (PE)) and "non-processed" exports (NPE). When the source of the increase in the Chinese real exchange rate (CRER) is appreciation against the currencies of other emerging Asian trading partners, the effect on PE is positive but insignificant, while the effect on NPE is negative. By contrast, when the source of the increase in the CRER is appreciation against China's advanced-economy trading partners, the effects on both types of exports are negative. Thus greater exchange rate flexibility could contribute to lowering China's trade surplus through restraining growth of exports. Illustrations. A print on demand report.
The Rise of the People's Bank of China
The People’s Bank of China surpasses the Federal Reserve as the world’s biggest central bank. In the first comprehensive account of the evolution of central banking and monetary policy in reform China, Stephen Bell and Hui Feng show how the PBC’s authority grew from a Leninist party-state that once jealously guarded its control.
