China & World Economy Volume 26 Number 4 July–August 2018

Contents

Are China’s Exports Crowding Out or Being Crowded Out?
Evidence from Japan’s Imports
Yan Liu, Xunpeng Shi, James Laurenceson 1

Intra-provincial Revenue Sharing and the Subnational Government’s Fiscal
Capacity in China: The Case of Zhejiang Province
Tao Qian, Qi Zhang 24

Enhanced Special Drawing Rights: How China Could Contribute to a
Reformed International Monetary Architecture
Matthew Harrison, Geng Xiao 41

China’s Free Trade Ports: Effective Action Against
the Threat of De-globalization
Wei Tian, Zhuxi Xu, Miaojie Yu, Huihuang Zhu 62

Local Government Debt, Factor Misallocation and Regional Economic
Performance in China
Jianxin Wu, Yanrui Wu, Bing Wang 82

Economic Benefi ts and Environmental Costs of China’s Exports:
A Comparison with the USA Based on Network Analysis
Ya Liu, Yuhuan Zhao, Hao Li, Song Wang, Yongfeng Zhang, Ye Cao 106