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With the expansion of globalization, international trade has played
an increasingly significant role, especially for developing
countries. As the largest developing country, China has made a lot
of efforts to integrate to the global market since its Open and
Reform Policy in 1978 and has become the second largest economy in
world. So what is the effect of China's trade-oriented strategy for
the country and the world? How did it improve the country's
economic development? These are some critical questions this book
discusses. This book utilizes classic Western economic models to
examine how China's openness policies have affected the
manufacturing upgrading and economic development of the country. A
large amount of micro-level empirical evidence is added to support
the conclusion. Scholars and students in economics and business
will benefit from this book. Also, it will appeal to readers
interested in policy making and Chinese studies.
The book provides theoretical and empirical evidence on how world
trade evolves, how trade affects resource allocation, how trade
competition affects productivity, how China shock affects world
trade and how trade affects large and small countries. It is a
useful reference which focuses on new approaches to international
trade by looking into country-specific as well as firm-product
level-specific cases. "The Open Access version of this book,
available at
http://www.taylorfrancis.com/books/10.4324/9781351061544, has been
made available under a Creative Commons Attribution-Non
Commercial-No Derivatives 4.0 license."
The remarkable rise of China over the past three decades has been
unprecedented in both its scale and speed. Analysts around the
world have attempted to understand the causes of this unique event
and to predict how long it will last. China's rise has also raised
two important questions. The first concerns the stability and the
sustainability of China's growth, which has been accompanied by
growing internal and external imbalances, rising inequality at
home, environmental degradation and an increased risk of
catastrophic climate change, and has happened in spite of the
continuing, if diminished, role of the state in many sectors of the
economy. The second concerns trying to guess what the effect of
China's rise will be on its relations with the rest of the region,
the world and the existing global order. It seems only a matter of
time until China becomes the world's largest economy, and history
suggests that it is unthinkable that this event would be without
geopolitical consequences. The chapters in this volume draw on
papers originally presented to the 34th Pacific Trade and
Development Conference held in Beijing in 2010 to discuss these two
big questions and China's changing role in the world economy. This
book will be welcomed by students and scholars of Chinese
economics, business and politics, and those interested in the
pervasive impact of China's development on the global economy.
The book provides theoretical and empirical evidence on how world
trade evolves, how trade affects resource allocation, how trade
competition affects productivity, how China shock affects world
trade and how trade affects large and small countries. It is a
useful reference which focuses on new approaches to international
trade by looking into country-specific as well as firm-product
level-specific cases. "The Open Access version of this book,
available at
http://www.taylorfrancis.com/books/10.4324/9781351061544, has been
made available under a Creative Commons Attribution-Non
Commercial-No Derivatives 4.0 license."
The remarkable rise of China over the past three decades has been
unprecedented in both its scale and speed. Analysts around the
world have attempted to understand the causes of this unique event
and to predict how long it will last. China's rise has also raised
two important questions. The first concerns the stability and the
sustainability of China's growth, which has been accompanied by
growing internal and external imbalances, rising inequality at
home, environmental degradation and an increased risk of
catastrophic climate change, and has happened in spite of the
continuing, if diminished, role of the state in many sectors of the
economy. The second concerns trying to guess what the effect of
China's rise will be on its relations with the rest of the region,
the world and the existing global order. It seems only a matter of
time until China becomes the world's largest economy, and history
suggests that it is unthinkable that this event would be without
geopolitical consequences. The chapters in this volume draw on
papers originally presented to the 34th Pacific Trade and
Development Conference held in Beijing in 2010 to discuss these two
big questions and China's changing role in the world economy. This
book will be welcomed by students and scholars of Chinese
economics, business and politics, and those interested in the
pervasive impact of China's development on the global economy.
This book, by one of China's leading economists, explores the past
and present of the RMB-the people's currency-as it is poised to
compete with the dollar as the international reserve currency.
Exchange rate movement and its pass-through to changes in domestic
prices have been topics of wide concern among economists. However,
relatively few studies have empirically investigated the
relationship between exchange rate movements and China's
international trade.This book fills this gap, using the general
equilibrium theory of the western economic science norm systems,
integrating the leading heterogeneous firm theory of international
trade, attempting to set up a theoretical structural model for
further prediction, and applying the data from sample cases to
examine the structural model. This book will be of interest to
economists, financiers, and China watchers.
This book focuses on the current tension between China and the US
on trade imbalance and discusses China's opening-up strategy in the
context of this trade conflict. The book is divided into two parts.
In the first part, the author presents a detailed analysis of the
current state of the China-US trade relationship and describes the
potential impacts of China-US trade conflicts. The topics covered
in this section include the re-estimate of US trade deficit with
China, China's non-market economy status, the impact of China-US
bilateral investment treaties on China's manufacturing sectors, and
the estimated welfare losses and gains resulting from the China-US
trade war. Part II explores China's possible response and
development strategy in the context of de-globalization. Based on
an overview of China's three stages of economic reform and
opening-up policy in the past four decades, the author discusses
the future tasks that would move the country into a new stage of
all-round opening up. Lastly, the book comprehensively reviews the
role of processing trade, trade liberalization, and firm
performance in promoting China's miraculous economic growth so as
to foster a better understanding of China's experience of opening
up over the past 4 decades.
This book, by one of China's leading economists, explores the past
and present of the RMB-the people's currency-as it is poised to
compete with the dollar as the international reserve currency.
Exchange rate movement and its pass-through to changes in domestic
prices have been topics of wide concern among economists. However,
relatively few studies have empirically investigated the
relationship between exchange rate movements and China's
international trade.This book fills this gap, using the general
equilibrium theory of the western economic science norm systems,
integrating the leading heterogeneous firm theory of international
trade, attempting to set up a theoretical structural model for
further prediction, and applying the data from sample cases to
examine the structural model. This book will be of interest to
economists, financiers, and China watchers.
Dieses Buch konzentriert sich auf die aktuellen Spannungen zwischen
China und den USA im Zusammenhang mit dem Handelsungleichgewicht
und erörtert Chinas Öffnungsstrategie im Kontext dieses
Handelskonflikts. Das Buch gliedert sich in zwei Teile. Im ersten
Teil legt der Autor eine detaillierte Analyse des aktuellen Stands
der Handelsbeziehungen zwischen China und den USA vor und
beschreibt die möglichen Auswirkungen von Handelskonflikten
zwischen China und den USA. Zu den in diesem Teil behandelten
Themen gehören die Neuschätzung des US-Handelsdefizits mit China,
Chinas Status als Nicht-Marktwirtschaft, die Auswirkungen der
bilateralen Investitionsabkommen zwischen China und den USA auf
Chinas verarbeitende Industrie sowie die geschätzten
Wohlfahrtsverluste und -gewinne, die sich aus dem Handelskrieg
zwischen China und den USA ergeben. Teil II untersucht Chinas
mögliche Reaktion und Entwicklungsstrategie im Kontext der
De-Globalisierung. Ausgehend von einem Überblick über die drei
Phasen der chinesischen Wirtschaftsreform und Öffnungspolitik in
den vergangenen vier Jahrzehnten erörtert der Autor die künftigen
Aufgaben, die das Land in eine neue Phase der umfassenden Öffnung
führen würden. Schließlich wird in dem Buch die Rolle der
Handelsabwicklung, der Handelsliberalisierung und der
Unternehmensleistung bei der Förderung von Chinas wundersamem
Wirtschaftswachstum umfassend untersucht, um ein besseres
Verständnis von Chinas Erfahrungen mit der Öffnung in den letzten
vier Jahrzehnten zu fördern.
With the expansion of globalization, international trade has played
an increasingly significant role, especially for developing
countries. As the largest developing country, China has made a lot
of efforts to integrate to the global market since its Open and
Reform Policy in 1978 and has become the second largest economy in
world. So what is the effect of China's trade-oriented strategy for
the country and the world? How did it improve the country's
economic development? These are some critical questions this book
discusses. This book utilizes classic Western economic models to
examine how China's openness policies have affected the
manufacturing upgrading and economic development of the country. A
large amount of micro-level empirical evidence is added to support
the conclusion. Scholars and students in economics and business
will benefit from this book. Also, it will appeal to readers
interested in policy making and Chinese studies.
This book mainly focuses on the miracle of China’s foreign trade
in the past 40 years from five perspectives: first, it briefly
reviews the import substitution strategy China adopted before its
opening-up; second, it analyzes the export-oriented strategy that
contributes a lot to China’s economic growth since 1980s; third,
it discusses the impacts of trade liberalization and China’s
participation in WTO on Chinese firms; forth, it addresses the
deepening opening-up in the context of global financial crisis;
last, it provides policy advice on China’s newly conducted
all-around opening-up strategy. By dividing China’s opening-up
into five stages, this book offers a comprehensive discussion to
understand and analyze the reason, performance and challenge of
China’s economic growth from the perspective of foreign trade.
This book focuses on China's fast-growing outward foreign direct
investment (ODI) and discusses the underlying causes and profound
effects of Chinese enterprises' "going global." The book includes
eight chapters to analyze the basic characteristics of China's ODI
manufacturing enterprises, examine the relationship between
enterprise productivity and ODI, investigate the differences
between state-owned enterprises and private enterprises in factor
market, enterprise ownership and investment, analyze the overall
effect of the foreign direct investment (FDI) and thereby the
China-US bilateral investment treaties (BIT) on Chinese
manufacturing sector in terms of productivity and profitability of
the firms. The last chapter provides an overview of China's three
stages of economic reform and opening-up policy in the past four
decades, and analyzes the reasons for China's realization of the
splendid economic achievements within such a short time and the
main driving forces of China's incremental international trade in
different stages, and discusses the future tasks that would promote
the country into a new stage of all-round opening-up. The book aims
to illustrate the evolution of China's opening-up design during the
past decades and discuss several most important measures to build
an all-around opening-up strategy. Based on these profound
analyses, the book provides further policy implication for the
sustainable development of China's opening-up.
This book mainly focuses on the miracle of China's foreign trade in
the past 40 years from five perspectives: first, it briefly reviews
the import substitution strategy China adopted before its
opening-up; second, it analyzes the export-oriented strategy that
contributes a lot to China's economic growth since 1980s; third, it
discusses the impacts of trade liberalization and China's
participation in WTO on Chinese firms; forth, it addresses the
deepening opening-up in the context of global financial crisis;
last, it provides policy advice on China's newly conducted
all-around opening-up strategy. By dividing China's opening-up into
five stages, this book offers a comprehensive discussion to
understand and analyze the reason, performance and challenge of
China's economic growth from the perspective of foreign trade.
This book focuses on the current tension between China and the US
on trade imbalance and discusses China's opening-up strategy in the
context of this trade conflict. The book is divided into two parts.
In the first part, the author presents a detailed analysis of the
current state of the China-US trade relationship and describes the
potential impacts of China-US trade conflicts. The topics covered
in this section include the re-estimate of US trade deficit with
China, China's non-market economy status, the impact of China-US
bilateral investment treaties on China's manufacturing sectors, and
the estimated welfare losses and gains resulting from the China-US
trade war. Part II explores China's possible response and
development strategy in the context of de-globalization. Based on
an overview of China's three stages of economic reform and
opening-up policy in the past four decades, the author discusses
the future tasks that would move the country into a new stage of
all-round opening up. Lastly, the book comprehensively reviews the
role of processing trade, trade liberalization, and firm
performance in promoting China's miraculous economic growth so as
to foster a better understanding of China's experience of opening
up over the past 4 decades.
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