Facets of China's Influence in the Economic Development and Integration of Asia

Sarmiza Pencea

Revista de Economie Mondiala / The Journal of Global Economics, 2014, vol. 6, issue 3

Abstract: China's economic pathway subsequent to 1978 is the greatest and most spectacular catching-up process ever succeded in the hystory of development. This country’s unprecedented race to regain the statute of a great economic power - lost in the 19th century, against the backdrop of the western industrial revolution – has developed at unequalled pace and produced exceptive results, overturning previous global hierarchies and exerting influence to the farthest corners of the world. Yet, nowhere else has its impact been more ample than in Asia, where China has become the largest regional economy, overriding Japan (2010), a highly developed country, although China itself is still an emerging economy. The channels which these influences are transmitted through are complex, pertaining to both the market mechanisms and to institutions and policies. In this paper we look at some of the influences exerted and changes triggered by China in Asia, through market mechanisms.

Keywords: China; Asia; regional development; integration; "flying geese" model; international production; relocations; intra-regional trade; competitive advantages; Foreign Direct Investments; FDI; multinatinal companies; MNCs; latecomer advantage (search for similar items in EconPapers)
JEL-codes: F14 O19 O53 P20 P27 (search for similar items in EconPapers)
Date: 2014
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