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Although contemporary China has developed a distinct economic system, the analytic foundations underpinning China’s state–market relations remain unclear.  PERI researcher Isabella Weber and Hao Qi develop in this paper a conceptual framework of what they term China’s state-constituted market economy. They argue that the Chinese state ‘constitutes’ the market economy by creating, participating, and steering markets for essentials in order to stabilize and guide the economy as a whole. Then then draw on China’s statecraft tradition as well as on proposals for financial policy reform in the U.S. to conceptualize the state-market constitution in China.

U.S. Monetary Policy and the Decline in the Interest Rates (1990-2007)

Working Paper, December 2021 |

Santiago Capraro, Carlo Panico, Luis Daniel Torres-Gonzalez
Since 2017, China has adopted the "tolerant and prudent" policy in regulating emerging digital platform industries. Wei Zhang, Hao Qi and Zhongjin Li conduct an analysis for the cities of Nanjing and Beijing that finds that although these regulations can help reduce labor precarity in the marketplace for licensed drivers, they have exacerbated precarity in the workplace. This is because the ridehailing platforms aligned with third-party rental companies that provide licensed vehicles. This has forced drivers bounded by a rental or rent-to-own agreement to work significantly longer hours than counterparts who drive their own vehicles.

Reframing Incentives for Climate Policy Action

Journal Article, November 2021 |

Jean-Francois Mercure, Pablo Salas, Pim Vercoulen, Gregor Semieniuk, Aileen Lam, Hector Pollitt, Philip B. Holden, Negar Vakilifard, Unnada Chewpreecha, Neil Edwards, Jorge E. Vinuales
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