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The global impact of Chinese growth

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  • Ippei Fujiwara

Abstract

Three decades have passed since China was dramatically ‘opened up’ to the global market and rapidly began to catch up with leading economies. In this paper we discuss the effects of China’s opening-up and its 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; that the opening-up of China could be beneficial to the ROW if it led to significant productivity growth in China; and that China’s balanced trade policy after the opening-up has helped the ROW rather than China. We conclude that from an ROW perspective and according to a simple neoclassical model with complete markets, a gradual trade liberalisation in China is preferable.

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File URL: https://crawford.anu.edu.au/pdf/pep/apep-399.pdf
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Bibliographic Info

Paper provided by Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University in its series Asia Pacific Economic Papers with number 399.

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Length: 31 pages
Date of creation: 2013
Date of revision:
Handle: RePEc:csg:ajrcau:399

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References

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Cited by:
  1. Rod Tyers & Jenny Corbett, 2011. "Japan's Economic Slowdown and its Global Implications: A Review of the Economic Modelling," Economics Discussion / Working Papers 11-19, The University of Western Australia, Department of Economics.
  2. Hideaki Hirata & Keisuke Otsu, 2011. "Accounting for the economic relationship between Japan and the Asian Tigers," Studies in Economics 1120, Department of Economics, University of Kent.
  3. Rod Tyers, 2011. "Japanese Economic Stagnation: Causes And Global Implications," CAMA Working Papers 2011-20, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
  4. Rod Tyers & Ying Zhang, 2011. "Japan’s Economic Recovery: Insights from Multi-Region Dynamics," CAMA Working Papers 2011-18, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
  5. Suparna Chakraborty & Keisuke Otsu, 2012. "Deconstructing Growth - A Business Cycle Accounting Approach with application to BRICs," Studies in Economics 1212, Department of Economics, University of Kent.
  6. Mai, Yin Hua & Adams, Philip & Dixon, Peter & Menon, Jayant, 2010. "The Awakening Chinese Economy: Macro and Terms of Trade Impacts on 10 Major Asia-Pacific Countries," Working Papers on Regional Economic Integration 66, Asian Development Bank.
  7. Ippei Fujiwara & Kazuo Fukuda & Ichiro Muto & Yosuke Shigemi & Wataru Takahashi, 2008. "Frontiers in Monetary Theory and Policy: Summary of the 2008 International Conference Organized by the Institute for Monetary and Economic Studies of the Bank of Japan," IMES Discussion Paper Series 08-E-18, Institute for Monetary and Economic Studies, Bank of Japan.
  8. Stracca, Livio, 2013. "The rise of China and India: blessing or curse for the advanced countries?," Working Paper Series 1620, European Central Bank.

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