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The Global Impact of Chinese Growth

  • Ippei Fujiwara

    (Institute for Monetary and Economic Studies, Bank of Japan (E-mail: ippei.fujiwara@boj.or.jp))

  • Keisuke Otsu

    (Assistant Professor, Sophia University, Faculty of Liberal Arts and formerly, Economist, Institute for Monetary and Economic Studies (E-mail: k-otsu@sophia.ac.jp))

  • Masashi Saito

    (Economist, Research and Statistics Department, Bank of Japan (E-mail: masashi.saitou@boj.or.jp))

Three decades have passed since China dramatically opened up to the global market and began to catch up rapidly with leading economies. In this paper we discuss the effects of Chinafs opening-up and 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 given a balanced trade constraint. The opening-up of China is beneficial to the ROW if it leads to significant productivity growth in China. Also, Chinafs balanced trade policy after the opening-up has helped the ROW rather than China.

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Paper provided by Institute for Monetary and Economic Studies, Bank of Japan in its series IMES Discussion Paper Series with number 08-E-22.

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Date of creation: Sep 2008
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Handle: RePEc:ime:imedps:08-e-22
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