In the background of the advancing development of the global supply chain, the connection between logistics and international trade has become increasingly close. This paper is intended to investigate the relationship between trading partners' logistics performance and China's exports from the dual dimensions of theory and empirical, and provide a new perspective for understanding the operation mechanism of international trade. In this study, China's export volume is taken as the dependent variable, and World Bank's Logistics Performance Index is adopted as the core explanatory variable. A two-way fixed-effects model is constructed for empirical analysis, and panel data of 31 major trading partners of China from 2010 to 2022 are employed. Furthermore, robustness check and heterogeneity analysis are conducted. The results show that there is a positive correlation between trading partners' logistics performance and China's exports. This conclusion is supported by the robustness check. Heterogeneity analysis reveals that this relationship is significant in developed countries but not in developing countries. On the basis of the above conclusions, it is suggested that enterprises and the government can strengthen the formulation of logistics system, thereby promoting the common prosperity of the international economy in the win-win cooperation.

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Does winning beget more winning in VALORANT? This paper examines whether teams that pull ahead financially keep pulling ahead, or whether the game's economy naturally evens things out. A four-state Markov chain is fitted to transitions between economic regimes across 214 professional matches (5,136 rounds) from the 2023–2024 VCT season. Logistic regression and a random forest model are also used to test whether the patterns hold up across different modeling approaches. The results are hard to ignore: winners stay in full-buy 78% of the time, while losers remain there only 31%. Each extra 1,000 credits of advantage raises the odds of winning by about one-third (OR = 1.34, p < 0.001). Adding regime labels increases AUC from 0.68 to 0.72, representing a 5.9% gain. Overall, the findings suggest that money begets money in VALORANT and that the in-game economy has memory. Economic regimes provide useful information beyond static credit numbers alone and help explain how financial momentum develops across rounds.

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With the spread of e-CNY, many banks have begun to explore the prospects of commercial bank deposits. Based on a review of the literature, this paper investigates the impact mechanisms of e-CNY on bank deposits from the perspectives of customer asset allocation and bank asset-liability management. Different people and enterprises have different liquidity needs and desired returns; therefore, they use banks for some purposes and digital wallets for others. Based on the above, the problems are mainly structural and under certain circumstances. Transactional funds are more likely to be withdrawn; time deposits will be relatively stable. The impact on bank lending and liquidity depends on the destination and speed of fund transfer, the bank's capacity to replace lost funds, its funding structure, and the operational arrangements of the central bank. The effect will also differ for banks with different customer bases and access to other funds. In light of the institutional changes introduced by e-CNY 2.0, this paper will further separate changes in account deposits from real reductions in bank liabilities. Strengthen the supervision of fund flows, improve scenario-based stress testing, and implement differentiated supervision. These measures will guide the deposit management and other policies of commercial banks. In addition, some empirical research has used both wallet-level and bank-level data to explore how the composition and liquidity risk of deposits have changed.

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Against the backdrop of the massification of higher education, the supply of college graduates in the labor market has been steadily increasing. Wage disparities among graduates in different fields during the early stages of their careers have gradually become more pronounced, and the relationship between academic discipline and income has emerged as a key focus of research on human capital. This study examines how fields of study are associated with early-career wages among Chinese university graduates. It also examines skill specificity, major–job matching, and labor demand. This paper employs a structured literature review and a relatively comprehensive analytical approach based on published empirical studies to compare research findings on wage differentials, job-specific skills, and major job-skill mismatches. The existing evidence suggests that graduates from occupationally specific majors can receive higher starting wages if their jobs are related to their studies. Major–job mismatch is often associated with lower wages, although the size and direction of this relationship vary across studies and groups. It further discusses how the supply of graduates and demand for particular skills may shape these wage differences. The study concludes that early-career wage returns reflect the interaction of field-specific human capital, job matching and market conditions, with implications for students' educational choices and university curricula.

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