Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/121052
Authors: 
Athukorala, Prema-chandra
Kohpaiboon, Archanun
Year of Publication: 
2010
Series/Report no.: 
FIW Working Paper 52
Abstract: 
This paper examines the export experience of China and other East Asian economies in the aftermaths of the global financial crisis against the backdrop of pre-crisis trade patterns. The analysis is motivated by the ‘decoupling' thesis, which was a popular theme in the Asian policy circles in the lead-up to the onset of the recent financial crisis, and aims to probe three key issues: Was the East Asian trade integration story that underpinned the decoupling thesis simply a statistical artifact or the massive export contraction caused by an overreaction of traders to the global economic crisis and/or by the drying up of trade credit, which overpowered the cushion provided by intra-regional trade? What are the new policy challenges faced by the East Asian economies? Is there room for an integrated policy response that marks a clear departure from the pre-crisis policy stance favoring export-oriented growth? The findings caution against a possible policy backlash against openness to foreign trade arising from the new-found enthusiasm for rebalancing growth, and make a strong case for a long-term commitment to non-discriminatory multilateral and unilateral trade liberalization.
Subjects: 
global financial crisis
global production sharing
production networks
China
JEL: 
F15
F23
O53
Document Type: 
Working Paper

Files in This Item:
File
Size
557.42 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.