The past decade witnessed a surge in trade and foreign JL.direct investment(FDI)between China and the Association of Southeast Asian Nations(ASEAN),driven by supply-chain reconfiguration,enhanced transportation infras...The past decade witnessed a surge in trade and foreign JL.direct investment(FDI)between China and the Association of Southeast Asian Nations(ASEAN),driven by supply-chain reconfiguration,enhanced transportation infrastructure and the implementation of the Regional Comprehensive Economic Partnership(RCEP)in 2022.ASEAN surpassed the US in 2019 and the EU in 2020 as China's(data source:General Administration of Custom s of China,hereinafter referred to as China)largest trading partner(Figure 1).展开更多
After bottoming out over the past two years,the momentum of nonresident capital flows to emerging markets(EMs)has shifted in the opposite direction.This in large part because the outlook for EMs is now seen as more po...After bottoming out over the past two years,the momentum of nonresident capital flows to emerging markets(EMs)has shifted in the opposite direction.This in large part because the outlook for EMs is now seen as more positive relativeto advanced economies,with average EM output growth likely to be higher and EM interest rate spreads likely towiden.展开更多
Portfolio investment flow to China is a weathervane for China's financial health and global investor confidence.Chart 1 shows the capital flows via the Stock and Bond Connects in February-June.We studied the force...Portfolio investment flow to China is a weathervane for China's financial health and global investor confidence.Chart 1 shows the capital flows via the Stock and Bond Connects in February-June.We studied the forces that drive China's net bond and equity flows.It shows that relative economic growth,bond yields,RMB exchange rate,market volatility,and index inclusion explain about 50%of the flows(Chart 2).Many other factors,such as policy and geopolitical risk,which are hard to quantify,are also behind the ebb and flow of portfolio investments.展开更多
文摘The past decade witnessed a surge in trade and foreign JL.direct investment(FDI)between China and the Association of Southeast Asian Nations(ASEAN),driven by supply-chain reconfiguration,enhanced transportation infrastructure and the implementation of the Regional Comprehensive Economic Partnership(RCEP)in 2022.ASEAN surpassed the US in 2019 and the EU in 2020 as China's(data source:General Administration of Custom s of China,hereinafter referred to as China)largest trading partner(Figure 1).
文摘After bottoming out over the past two years,the momentum of nonresident capital flows to emerging markets(EMs)has shifted in the opposite direction.This in large part because the outlook for EMs is now seen as more positive relativeto advanced economies,with average EM output growth likely to be higher and EM interest rate spreads likely towiden.
文摘Portfolio investment flow to China is a weathervane for China's financial health and global investor confidence.Chart 1 shows the capital flows via the Stock and Bond Connects in February-June.We studied the forces that drive China's net bond and equity flows.It shows that relative economic growth,bond yields,RMB exchange rate,market volatility,and index inclusion explain about 50%of the flows(Chart 2).Many other factors,such as policy and geopolitical risk,which are hard to quantify,are also behind the ebb and flow of portfolio investments.
