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Title:The global impact of Chinese growth PDF Logo
Authors:Fujiwara, Ippei
Otsu, Keisuke
Saito, Masashi
Issue Date:2011
Series/Report no.:School of Economics discussion papers 11,15
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.
Subjects:chinese growth
reform and opening-up
productivity
terms of trade
JEL:E13
F41
O47
Document Type:Working Paper
Appears in Collections:School of Economics Discussion Papers, University of Kent

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