By Chunlai Chen
This finished assortment offers a awesome wealth of knowledge and a well timed evaluation of China's fiscal improvement and integration with the worldwide economic climate after WTO accession. Chunlai Chen brings jointly a extraordinary workforce of students who hire fiscal theories, econometric modelling thoughts and the most recent facts to research many vital matters. those hotly debated subject matters contain China's fiscal development, foreign exchange, nearby exchange preparations, international direct funding, banking area liberalization, trade price reform, agricultural exchange and effort call for. aimed toward a world viewers, this hugely centred booklet might be of serious gain to lecturers and postgraduate scholars thinking about chinese language economic climate and company reports, in addition to researchers in overseas alternate and overseas funding.
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Extra info for China's Integration With the Global Economy: WTO Accession, Foreign Direct Investment and International Trade (Advances in Chinese Economic Studies)
FIFs’ exports and imports both rapidly shifted China’s foreign trade 25 towards high-technology products. 8 This indicates that FIFs have played an increasingly important role in upgrading China’s trade structure. Finally, globalization has provided new opportunities for China to enter international trade through vertical specialization. International production sharing or international production fragmentation is a widespread phenomenon in the global economy, especially in East Asia. China has taken advantage of this vertical specialization within the production process and it has become an assembly centre for firms located in East Asia.
Notes: a. This rate was applied for the period of 1978–98 only. b. These numbers are cited in Zhang (2008). c. This is 1953 value in 1980 prices. d. Wu (2004) and Zhang (2008) are regional studies. Wu’s approach is similar to this chapter. Thus no initial values of capital stock are needed. Zhang assumes that the initial value of capital stock in 1952 is equal to the value of fixed investment divided by 10%. a. = not available. approaches have been employed as well. 1). While Chow (1993) provided detailed information and conducted sensitivity analysis, Li et al.
First, China has the most abundant labour supply in the world. According to neoclassic theory of international trade, China will specialize in labour-intensive activities and export labour-intensive products. Although there has been increasing competition from some Asian developing economies in recent years, China still has strong comparative advantage in labour-intensive activities due to its abundant and cheap labour supply, and dominates the export of many labour-intensive products in the world market.
China's Integration With the Global Economy: WTO Accession, Foreign Direct Investment and International Trade (Advances in Chinese Economic Studies) by Chunlai Chen