China and Asia in Global Trade Slowdown

Gee Hee Hong, Jaewoo Lee, Wei Liao and Dulani Seneviratne

No 2016/105, IMF Working Papers from International Monetary Fund

Abstract: Asia and China made disproportionate contributions to the slowdown of global trade growth in 2015. China’s import growth slowed starkly, driven by both external and domestic factors, including a rebalancing of demand. Econometric results point to weak investment and rebalancing as the main causes of the import slowdown. Spillover effects from China’s rebalancing are estimated for some 60 countries using value-added trade data, and are found to be more negative on Asia and commodity exporters than others.

Keywords: WP; import growth; exchange rate; China's consumption; investment growth; upstream trade partner; trade linkages; trade elasticities; spillovers; import growth slowdown; investment demand; consumption imports; consumption demand increases; consumption growth; growth shock; import demand; capital goods; trading partners; Consumption; Exports; Imports; Export performance; Global value chains; Global; Asia and Pacific (search for similar items in EconPapers)
Pages: 46
Date: 2016-05-26
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Citations: View citations in EconPapers (6)

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