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Can Trade with the People’s Republic of China Be an Engine of Growth for Developing Asia

Author

Listed:
  • Donghyun Park

    (Asian Development Bank)

  • Kwanho Shin

    (Asian Development Bank)

Abstract

The recession in the United States in the wake of the global financial crisis has dampened developing Asia’s exports and growth. As a result, developing Asia is looking increasingly to the People’s Republic of China (PRC) as a source of demand and growth. This paper empirically assesses the PRC’s potential an engine of growth for developing Asia. The most significant finding is that the share of final goods in the PRC’s imports from East and Southeast Asia has been growing while the share of parts and components has been shrinking, suggesting that the PRC is becoming more of a consumer and less of an assembler. This provides some grounds for optimism about the prospects of trade with the PRC as a source of resilience against extraregional demand shocks in the short run and an additional source of growth in the long run.

Suggested Citation

  • Donghyun Park & Kwanho Shin, 2010. "Can Trade with the People’s Republic of China Be an Engine of Growth for Developing Asia ," Asian Development Review, Asian Development Bank, vol. 27(1), pages 160-181.
    • Handle: RePEc:ris:adbadr:2716
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    Cited by:

    1. Minsoo Lee & Donghyun Park & Arief Ramayandi, 2017. "How growth deceleration in the PRC affects other Asian economies," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 31(2), pages 61-77, November.
    2. Jesus Felipe, 2010. "Asia and the Global Crisis: Recovery Prospects and the Future," Economics Working Paper Archive wp_619, Levy Economics Institute.
    3. Ibrahim Bakari Hassan & M. Azali & Lee Chin & Wan N.W. Azman-Saini, 2017. "Macroeconomic linkages and international shock transmissions in East Asia: A global vector autoregressive approach," Cogent Economics & Finance, Taylor & Francis Journals, vol. 5(1), pages 1370772-137, January.
    4. Donghyun Park & Kwanho Shin, 2009. "The People’s Republic of China as an Engine of Growth for Developing Asia? Evidence from Vector Autoregression Models," ADB Economics Working Paper Series 175, Asian Development Bank.
    5. Athukorala, Prema-chandra & Yamashita, Nobuaki, 2006. "Production fragmentation and trade integration: East Asia in a global context," The North American Journal of Economics and Finance, Elsevier, vol. 17(3), pages 233-256, December.
    6. Yiping Huang & Bijun Wang, 2011. "From the Asian Miracle to an Asian Century? Economic Transformation in the 2000s and Prospects for the 2010s," RBA Annual Conference Volume (Discontinued), in: Hugo Gerard & Jonathan Kearns (ed.),The Australian Economy in the 2000s, Reserve Bank of Australia.

    More about this item

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration

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