China: prospects for export-driven growth
China’s rise as a merchandise exporter in recent decades is unparalleled. Supported by a rapidly growing urban workforce, massive investments in productivity enhancing infrastructure and technologies, a range of subsidies and incentives, and a favourable external economic environment, Chinese merchandise exports reached a staggering 36 per cent of China’s GDP in 2006. However, this remarkable export performance, which is somewhat exaggerated by China’s assembly role in global supply chains, is unlikely to continue, as Chinese exports reach saturation point in some export markets and domestic wages continue to rise. Instead, future export growth will increasingly be led by shifts in China’s exports towards more sophisticated goods and services as China adopts more advanced manufacturing technologies, and towards emerging economy destinations. This will underpin continued rises in China’s productivity and living standards, allowing consumer spending to become a more important internal driver of growth, as the economy reduces its reliance on export and investment demand
Volume (Year): (2012)
Issue (Month): 4 (December)
|Contact details of provider:|| Postal: |
Phone: +61 2 6263 2111
Fax: +61 2 6273 2614
Web page: http://www.treasury.gov.au
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Peter K. Schott, 2008.
"The relative sophistication of Chinese exports,"
CEPR;CES;MSH, vol. 23, pages 5-49, 01.
- Yilmaz Akyüz, 2011. "Export Dependence and Sustainability of Growth in China," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 19(1), pages 1-23, 01.
- Golley, Jane & Meng, Xin, 2011. "Has China run out of surplus labour?," China Economic Review, Elsevier, vol. 22(4), pages 555-572.
- Brendan Coates & Nghi Luu, 2012. "China's emergence in global commodity markets," Economic Roundup, The Treasury, Australian Government, issue 1, pages 1-30, May.
- F. Gerard Adams & Byron Gangnes & Yochanan Shachmurove, 2006.
"Why is China so Competitive? Measuring and Explaining China's Competitiveness,"
The World Economy,
Wiley Blackwell, vol. 29(2), pages 95-122, 02.
- F. Gerard Adams & Byron Gangnes & Yochanan Shachmurove, 2004. "Why Is China So Competitive? Measuring and Explaining China’s Competitiveness," Working Papers 07-2004, Singapore Management University, School of Economics.
- F. Gerard Adams & Byron Gangnes & Yochanan Shachmurove, 2004. "Why Is China So Competitive? Measuring and Explaining China’s Competitiveness," Working Papers 200406, University of Hawaii at Manoa, Department of Economics.
- Veasna Kong & Adam McKissack & Dong Zhang, 2012. "China in a new period of transition," Economic Roundup, The Treasury, Australian Government, issue 4, pages 42-62, December.
- XU, Bin & LU, Jiangyong, 2009. "Foreign direct investment, processing trade, and the sophistication of China's exports," China Economic Review, Elsevier, vol. 20(3), pages 425-439, September.
- Kai Guo & Papa N'Diaye, 2009. "Is China's Export-Oriented Growth Sustainable?," IMF Working Papers 09/172, International Monetary Fund.
- Mary Amiti & Donald R. Davis, 2009. "What's behind volatile import prices from China?," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 15(Jan).
- Paul Hubbard & Samuel Hurley & Dhruv Sharma, 2012. "The familiar pattern of Chinese consumption growth," Economic Roundup, The Treasury, Australian Government, issue 4, pages 63-78, December.
- Huw McKay & Ligang Song, 2010. "China as a Global Manufacturing Powerhouse: Strategic Considerations and Structural Adjustment," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 18(1), pages 1-32.
- Koopman, Robert & Wang, Zhi & Wei, Shang-Jin, 2012. "Estimating domestic content in exports when processing trade is pervasive," Journal of Development Economics, Elsevier, vol. 99(1), pages 178-189.
- Luke Deer & Ligang Song, 2012. "China's Approach to Rebalancing: A Conceptual and Policy Framework," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 20(1), pages 1-26, 01.
- Ivan Roberts & Anthony Rush, 2010. "Sources of Chinese Demand for Resource Commodities," RBA Research Discussion Papers rdp2010-08, Reserve Bank of Australia.
- Xing, Yuqing & Detert, Neal, 2010. "How the iPhone Widens the United States Trade Deficit with the People's Republic of China," ADBI Working Papers 257, Asian Development Bank Institute.
When requesting a correction, please mention this item's handle: RePEc:tsy:journl:journl_tsy_er_2012_4_4. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (The Treasury (Commonwealth of Australia))
If references are entirely missing, you can add them using this form.