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China'S Integration Into the World Economy; Implications for Developing Countries

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  • Yongzheng Yang

Abstract

Although the rest of the world had waited a long time for China to open up, feelings were mixed when it actually did and began to integrate rapidly with the world economy. With the country’s recent accession to the World Trade Organization (WTO), many of its trading partners are increasingly concerned that China’s competition in the world goods and capital markets may adversely affect their own growth prospects. This paper examines the implications of China’s WTO accession for other developing countries in the context of the country’s long-term process of growth and opening up. The paper argues that China’s integration into the world economy will inevitably impose adjustment costs on its trading partners in the short-to-medium term, but the benefits it generates are likely to dominate in the long run.

Suggested Citation

  • Yongzheng Yang, 2003. "China'S Integration Into the World Economy; Implications for Developing Countries," IMF Working Papers 03/245, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:03/245
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    Citations

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    Cited by:

    1. Eduardo Lora, 2005. "Debe América Latina temerle a la China?," Research Department Publications 4410, Inter-American Development Bank, Research Department.
    2. Michael Funke & Jörg Rahn, 2005. "Just How Undervalued is the Chinese Renminbi?," The World Economy, Wiley Blackwell, vol. 28(4), pages 465-489, April.
    3. Yunhua Liu & Beoy Kui Ng, 2007. "Impact of A Rising Chinese Economy and ASEAN’s Responses," Economic Growth Centre Working Paper Series 0703, Nanyang Technological University, School of Social Sciences, Economic Growth Centre.
    4. Patricio Jaramillo & Sergio Lehmann & David Moreno., 2009. "China, Precios de Commodities y Desempeño de América Latina: Algunos Hechos Estilizados," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 46(133), pages 67-105.
    5. Eduardo Lora, 2005. "Should Latin America Fear China?," IDB Publications (Working Papers) 4367, Inter-American Development Bank.
    6. Françoise Nicolas, 2008. "The political economy of regional integration in East Asia," Economic Change and Restructuring, Springer, vol. 41(4), pages 345-367, December.
    7. Richard L. Bernal, 2015. "The Growing Economic Presence of China in the Caribbean," The World Economy, Wiley Blackwell, vol. 38(9), pages 1409-1437, September.
    8. AkIn, Cigdem & Kose, M. Ayhan, 2008. "Changing nature of North-South linkages: Stylized facts and explanations," Journal of Asian Economics, Elsevier, vol. 19(1), pages 1-28, February.
    9. Martínez, Daniel., 2004. "The world of work in the context of economic integration and trade liberalization : from the vantage point of the Americas," ILO Working Papers 993745473402676, International Labour Organization.
    10. Matthieu Bussière & Bernd Schnatz, 2009. "Evaluating China’s Integration in World Trade with a Gravity Model Based Benchmark," Open Economies Review, Springer, vol. 20(1), pages 85-111, February.
    11. Jenkins, Rhys & Edwards, Chris, 2006. "The economic impacts of China and India on sub-Saharan Africa: Trends and prospects," Journal of Asian Economics, Elsevier, vol. 17(2), pages 207-225, April.
    12. Beoy Kui Ng, 2005. "Globalization and the Rise of China: Their Impact on Ethnic Chinese Business in Singapore," Economic Growth Centre Working Paper Series 0506, Nanyang Technological University, School of Social Sciences, Economic Growth Centre.

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