China & World Economy
Volume 21 Number 4 July–August 2013
Hot Money Flows, Commodity Price Cycles and Financial Repression in the USA
and China: The Consequences of Near-zero US Interest Rates
Ronald McKinnon 1
Intraregional Cross-holding of Reserve Currencies: AProposal forAsia to
Deal with the Global Reserve Risks
Gang Fan, Bijun Wang, Yiping Huang 14
State Fragmentation and Rights Contestation: Rural Land Development Rights
in China
Fubing Su, Ran Tao, Hui Wang 36
Is China up to the Test? AReview of Theories and Priorities for
Education Investment for aModern China
Kate Glazebrook, Ligang Song 56
Effects of Social Capital, Top ExecutiveAttributes and R&D on Firm Value
in Chinese Small and Medium-sized Enterprises
Penghua Qiao, Hung-Gay Fung, Xiaofeng Ju 79
Deregulation orGovernmental Intervention?ACounterfactual Perspective
on China’s Electricity Market Reform
Sumei Chen, Lingyun He 101
Statistical Data
Changes in China’s Main Economic Indicators 121
The Latest Statistics for Imports and Exports 123