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SONG, MIN (2) answer(s).
 
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ID:   132023


Dissonance in Mao's Revolution: Chinese agricultural imports from the United States, 1972-1978 / Song, Min   Journal Article
Song, Min Journal Article
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Publication 2014.
Summary/Abstract Following President Richard Nixon's visit to China in February 1972, U.S.-China trade increased almost ten-fold within three years, of which China's agricultural imports represented the largest category. This trade created unprecedented opportunities for the Chinese pragmatists to pursue economic modernization, and sharpened the conflict between them and the radicals who adhered to Mao Zedong's ideological crusade. Drawing on both English and Chinese sources, this article examines the fluctuations of China-U.S. agricultural trade between 1972 and 1978. It focuses on the process of trade management in an ideologically charged environment, specifically, the interactions between the pragmatists and radicals under the dominance of Mao. It argues that this trade brought tremendous pressure on the very framework of that Chinese system, tested the boundaries of Mao's revolutionary ideology, and encouraged a fundamental change of course in China.
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2
ID:   125053


Emerging Impact of Chinese commodity futures market on domestic / Tu, Zhiyong; Song, Min; Zhang, Liang   Journal Article
Zhang, Liang Journal Article
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Publication 2013.
Summary/Abstract In this paper we construct a set of indices that capture the special features of the Chinese commodity futures market for the period from January 2000 to December 2011 to analyze the general properties of China's commodity futures market. Using these indices we investigate the risk premiums of Chinese commodity futures and verify that the commodity futures can act as an effective diversification tool for Chinese asset management. It is found that the commodity futures can hedge both expected and unexpected inflation in China, and agricultural commodity futures are found to signal inflation 2 months beforehand. Finally, we explore the relationship between Chinese and US commodity futures markets in the years 2000 and 2010, and find that their interactions strengthen over time. Our research reveals an increasingly important role of the Chinese commodity futures market in both the domestic and the global economy. Some policy changes are suggested in response to this trend.
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