Minneapolis Fed research criticises China's 'quid pro quo' policy
'Quid pro quo' policy benefits China, but not the rest of the world
China's policy of exchanging market access for technology is damaging to welfare in advanced economies, according to Quid pro quo: technology capital transfers for market access in China, a staff report published by the Federal Reserve Bank of Minneapolis.
Authors Thomas Holmes, Ellen McGrattan and Edward Prescott plug data on Chinese investments and patents into a multi-country dynamic general equilibrium model. The researchers simulate a fictional scenario in which China drops the ‘quid pro
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