The emergence of China has intensified the international segmentation of production processes within Asia, but has not created an autonomous engine for the region’s trade, as Asia still depends on outside markets for its final goods exports. The reorganisation of production has weakened the position of the advanced economies (Japan and the US) in Asia’s trade, but up to now has not severely affected the position of the emerging Asian economies (Malaysia, Philippines, Thailand). However, the surge of China’s exports and the decline of its export prices, suggest the risk of a downward spiral of cost-competition, while the deterioration of China’s terms of trade raises the question of the sustainability of its recent growth strategy.
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Paper provided by CEPII research center in its series Working Papers with number
2006-05.
Find related papers by JEL classification: F14 - International Economics - - Trade - - - Country and Industry Studies of Trade F15 - International Economics - - Trade - - - Economic Integration F2 - International Economics - - International Factor Movements and International Business O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
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