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The global impact of Chinese growth

  • Ippei Fujiwara

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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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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