Author Archives: the prof

About the prof

Prof of Economics, Wms School of Commerce, Washington and Lee University, Lexington VA

China’s Automotive Shakeout

I have a (Google blogspot) blog called Autos and Economics. My latest post (of a few minutes ago) is on a pending shakeout in the Chinese auto industry. The origins of the industry’s excess capacity include the government’s “import substitution … Continue reading

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Winter 2016 Texts Hessler, Peter. Country Driving. HarperCollins, 2010. ISBN 9780061804090 Li, Huaiyin. Village China. Stanford, 2009. ISBN 9780804776578 Miller, Tom. China’s Urban Billion: The Story Behind the Greatest Migration in Human History. Zed Books 2012. ISBN 9-781180-321417 Wallace, Jeremy. … Continue reading

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As per class, a “yawn” [or is that “yuan”?] for the RMB entering the pantheon of currencies in the IMF’s basket

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VoxEU on Chinese Pollution – nice, short item with a graph of official data vs US Embassy data.

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Chinese Growth vs Chinese Imports

Our session with Leland Miller of the China Beige Book highlighted the lag between the received view of the structure of China’s economy (= Wall Street), which highlights manufacturing through the lens of financial markets, and the structure we emphasize … Continue reading

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Ghost Cities

See the earlier post on Ordos. Further to that, the Priceonomics blog has a nice item on ghost cities, including a map of where various ones are located. They have a neat twist, including a chart from the Baidu travel … Continue reading

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One-child policy: Reposting from my blog

Here I discuss the end of China’s one-child policy. In my weekly WREL economics segment I also discussed , the auto industry in China, Yellen and the Donald and interest rates, and gave an update on the United Way of … Continue reading

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Agricultural contracting models

See the memo here [or go to Memos & Notes, where you’ll find it as well as other ancillary materials].

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Qindong Village – google satellite view

Here is the location of the village. Zoom out to get a sense of the dikes along the river, and the (current) level of river-borne transport. Zoom out more to see where the Yangtze River is, and the Pacific Ocean … Continue reading

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The Yuan: the bilateral US$ perspective is misleading

The coverage I’ve read focuses, implicitly or explicitly, on the RMB [yuan 元] / US$ rate, that is, the bilateral context. (An exception is the graph in the latest Economist article, The Devaluation of the Yuan: The Battle of Midpoint, … Continue reading

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Fall 2015 Texts

See the link above!

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Final Exam

This is a standard, 3 hour, no-notes “Blue Book” exam. Please conform to the guidelines for the Williams School. Return your exam and Blue Book, sealed, signed, and pledged to the front desk at the end of your exam slot.

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JMU Talk

I posted a link to the pdf of my powerpoint slides for my JMU talk on the menu bar. Here it is again: JMU China Issues Lessons from Japan v2 I made two main points. One is to present the challenge … Continue reading

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It’s not just agriculture

As noted in class, deindustrialization is a long-standing trend in the developed world, but the elasticity story is different than in agriculture: it’s that productivity rises faster than demand, so that the need for workers falls. In agriculture, it’s not … Continue reading

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Econ 274 Winter 2015

We’ll use the same books as in the fall, see the ISBN’s below if you’re seeking to order (used) books in advance. The structure of the course will be similar to the fall, but I will modify the details of … Continue reading

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