We showcase the importance of Global Value Chains (GVCs) for world trade. Using granular trade data, we determine that US trade balance with the rest

We update our model for the USD/CNY fix, concluding that USD/CNY could still fix lower for some time, given that the RMB in trade-weighted terms is st

We dig deeper into services exports, and consider what the growing importance of services trade will mean for the global economy. Using a new dataset

The striking slowdown in world trade growth over the past five years has been the subject of much research. In the first of a two-part series on trade

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We examine how rising global interest rates might impact growth in emerging markets, differentiating between countries where growth has been consumpti

We are introducing a new publication, which we are calling Global Macro Views . This product aims to complement existing IIF research, by discussing b

In the months since the election, the ability of Dollar moves to explain USD/CNY fixings is down sharply.' We interpret this regime change as a de fa

We estimate a simple model that examines the role that Dollar direction plays in the fixing mechanism. Prior to Nov. 8, the fixing displayed asymmetry

The sharp decline in the current account surplus,' which fell over $100 billion last year, was driven by a drop in the goods balance, not services.' W