scholarly journals What Motivates China to Invest So Heavily in U.S. Treasury Securities?

2014 ◽  
Vol 14 (2) ◽  
pp. 215-234
Author(s):  
Radhames A. Lizardo ◽  
Mary H. Kelly
Keyword(s):  
Trade Balance ◽  
Direct Investment ◽  
Investment Strategy ◽  
The United States ◽  
Rates Of Return ◽  
Empirical Examination ◽  
Treasury Securities ◽  
Tactical Decision ◽  
Investment Option ◽  
Shed Light

This paper attempts to shed light on the question: What motivates China to invest so heavily in U.S. Treasury securities, despite the fact that U.S. Treasuries provide real rates of return that are either close to zero or negative? Such an investment strategy can be perceived as economically irrational. A linkage can be presumed between China’s investment practices and the tactical decision to moderate the United States’ influence on economic, political, and military issues. We hypothesize, however, that China does not have a better investment option because holding an ever-increasing amount of U.S. dollar-based liquid assets gives China the ability to manage the value of the yuan in order to force its desired trade surpluses. In other words, China’s main mechanism to secure a positive trade balance and increase its foreign direct investment is by maintaining an undervalued currency, which requires an ever-increasing foreign-exchange reserve. From what we know, our study is the most comprehensive empirical examination of motivations for China’s heavy purchases of U.S. Treasury securities by analyzing nearly 25 years that begins in 1987 and covers the period over which China dramatically increased its holdings of these instruments.

James Bryce and the Australian Constitution

2015 ◽  
Vol 43 (2) ◽  
pp. 177-200
Author(s):  
Stephen Gageler
Keyword(s):  
United States ◽  
Judicial Review ◽  
Constitutional Law ◽  
The United States ◽  
United States Constitution ◽  
Constitutional Development ◽  
Practical Operation ◽  
Responsible Government ◽  
Shed Light

James Bryce was a contemporary of Albert Venn Dicey. Bryce published in 1888 The American Commonwealth. Its detailed description of the practical operation of the United States Constitution was influential in the framing of the Australian Constitution in the 1890s. The project of this article is to shed light on that influence. The article compares and contrasts the views of Bryce and of Dicey; Bryce's views, unlike those of Dicey, having been largely unexplored in contemporary analyses of our constitutional development. It examines the importance of Bryce's views on two particular constitutional mechanisms – responsible government and judicial review – to the development of our constitutional structure. The ongoing theoretical implications of The American Commonwealth for Australian constitutional law remain to be pondered.

scholarly journals Benchmark of the Trends of Spatial Inequality in World Megaregions

2021 ◽  
Vol 13 (11) ◽  
pp. 6456
Author(s):  
Ziqi Liu ◽  
Ming Zhang ◽  
Liwen Liu
Keyword(s):  
United States ◽  
High Speed ◽  
Investment Strategy ◽  
The United States ◽  
Spatial Inequality ◽  
Theil Index ◽  
High Speed Rail ◽  
International Learning ◽  
Regional Product ◽  
Index Measure

There have been growing concerns around the world over the rising spatial inequality (SI) amid fast and vast globalization. This paper presents an effort to benchmark the conditions and trends of spatial inequality in 37 megaregions in the United States, Europe, and China. Furthermore, the study selected three megaregion examples and analyzed the effect of developing high-speed rail (HSR) as an infrastructure investment strategy on reshaping the spatial pattern of job accessibility. The study measures spatial inequality with the Theil index of gross regional product and with the rank-size coefficient of polycentricity. Results show that spatial inequality exists and varies in magnitude within and between megaregions. On average, Chinese megaregions exhibited the level of spatial inequality about two times or more of those in the U.S. and European megaregions. The decade between 2006 and 2016 saw a decrease in the Theil index measure of megaregional inequality in China, but a slight increase in the United States and Europe. Fast growing megaregions exhibit high levels and rising trends of spatial inequality regardless of the country or continent setting. HSR helps improve mobility and accessibility; yet the extent to which HSR reduces spatial inequality is context dependent. This study presents a first attempt to assess and compare the spatial inequality conditions and trajectories in world megaregions aiming at promoting international learning.

I

1986 ◽  
Vol 80 (4) ◽  
pp. 896-901 ◽  
Author(s):  
Manfred Lachs
Keyword(s):  
International Law ◽  
The United States ◽  
Second World War ◽  
World War ◽  
International Court Of Justice ◽  
International Court ◽  
History Of ◽  
American Society ◽  
Second World ◽  
Shed Light

To write of Philip Jessup means to survey the history of the teaching of international law in the United States throughout the last half century; to cover all important events concerning the birth of international organizations on the morrow of the Second World War; to visit the halls of the General Assembly and the Security Council; to attend meetings of the American Society of International Law and the Institute of International Law, where he so frequently took the floor to shed light on their debates; to attend sittings of the International Court of Justice in the years 1960-1969. I could hardly undertake this task; there are others much more qualified to do so. What I wish to do is to recall him as a great jurist I knew and a delightful human being; in short, a judge and a great friend whom I learned to admire.

scholarly journals International Trade and Foreign Direct Investment as Innovation Factors of the U.S. Economy

2014 ◽  
Vol 41 (1) ◽  
pp. 60-75
Author(s):  
Tomasz M. Napiórkowski
Keyword(s):  
Foreign Direct Investment ◽  
International Trade ◽  
Direct Investment ◽  
Positive Impact ◽  
The United States ◽  
Annual Data ◽  
Main Portion ◽  
The Impact ◽  
Total Impact ◽  
The U.S

Abstract The aim of this research is to asses the hypothesis that foreign direct investment (FDI) and international trade have had a positive impact on innovation in one of the most significant economies in the world, the United States (U.S.). To do so, the author used annual data from 1995 to 2010 to build a set of econometric models. In each model, 11 in total) the number of patent applications by U.S. residents is regressed on inward FDI stock, exports and imports of the economy as a collective, and in each of the 10 SITC groups separately. Although the topic of FDI is widely covered in the literature, there are still disagreements when it comes to the impact of foreign direct investment on the host economy [McGrattan, 2011]. To partially address this gap, this research approaches the host economy not only as an aggregate, but also as a sum of its components (i.e., SITC groups), which to the knowledge of this author has not yet been done on the innovation-FDI-trade plane, especially for the U.S. Unfortunately, the study suffers from the lack of available data. For example, the number of patents and other used variables is reported in the aggregate and not for each SITC groups (e.g., trade). As a result, our conclusions regarding exports and imports in a specific SITC category (and the total) impact innovation in the U.S. is reported in the aggregate. General notions found in the literature are first shown and discussed. Second, the dynamics of innovation, trade and inward FDI stock in the U.S. are presented. Third, the main portion of the work, i.e. the econometric study, takes place, leading to several policy applications and conclusions.

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