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The Global Impact of Chinese Growth

Ippei Fujiwara, Keisuke Otsu () and Masashi Saito ()

Studies in Economics from School of Economics, University of Kent

Abstract: Three decades have passed since China dramatically opened up to the global market and began to catch up rapidly with leading economies. In this paper we discuss the effects of China's opening-up and rapid growth on the welfare of both China and the rest of the world (ROW). We find that the opening-up per se is welfare improving for China but has had little impact on the ROW. The opening-up of China is beneficial to the ROW if it led to significant productivity growth in China. Furthermore, China's balanced trade policy after the opening-up has helped the ROW rather than China. Hence, according to a simple neoclassical model with complete markets, a gradual trade liberalization in China is prefereble to a drastic one from the ROW perspective.

Keywords: Chinese Growth; Reform and Opening-up; Productivity; Terms of Trade (search for similar items in EconPapers)
JEL-codes: E13 F41 O47 (search for similar items in EconPapers)
Date: 2011-07
New Economics Papers: this item is included in nep-mac and nep-opm
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Working Paper: The global impact of Chinese growth (2013) Downloads
Working Paper: The Global Impact of Chinese Growth (2008) Downloads
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