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The Role of China in Regional South-South Trade in Asia-Pacific: Prospects for industrialization of the low-income countries

  • Shafaeddin, Mehdi

The author provides an alternative for the rationale for South-South trade as a vehicle for industrialization and development of developing countries in Asia-Pacific region as the literature on this issue is not satisfactory. Further, refuting the “de-coupling” thesis—that is, the East Asian countries are decoupled from the business cycle in developed countries—he analyses the merits and shortcomings of China’s regional trade with its partners in the region. Moreover, considering the growing weight of China in the global production network and international trade he proposes policies for the future of industrialization and development of the partner countries for strengthening the role of China as a growth “pole”. He suggest, inter alia, the need for industrial collaboration among the low-income countries, which benefit less than others from the dynamics of the Chinese economy as a “hub” complemented by adjustment assistance by China and NIEs. He also proposes technological cooperation among other main partner countries which are involved in production sharing in a limited number of electric and electronic products for exportation to the third markets in developed countries. The aim is to upgrade their industrial structure, and reduce their vulnerability to changes in the economic strategy of China and the business cycles in developed countries.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 26358.

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Date of creation: Sep 2010
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Handle: RePEc:pra:mprapa:26358
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  1. Mehdi Shafaeddin & Juan Pizarro, 2010. "The evolution of value added in assembly operations: the case of China and Mexico," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 8(4), pages 373-397.
  2. Juthathip Jongwanich, 2010. "Determinants of Export Performance in East and Southeast Asia," The World Economy, Wiley Blackwell, vol. 33(1), pages 20-41, 01.
  3. Wei Liao & Kang Shi & Zhiwei Zhang, 2010. "Vertical Trade and China's Export Dynamics," Working Papers 102010, Hong Kong Institute for Monetary Research.
  4. Young, Allyn A., 1928. "Increasing Returns and Economic Progress," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 38, pages 527-542.
  5. Eswar S. Prasad, 2009. "Rebalancing Growth in Asia," NBER Working Papers 15169, National Bureau of Economic Research, Inc.
  6. Greenaway, David & Milner, Chris R, 1990. "South-South Trade: Theory, Evidence, Policy," World Bank Research Observer, World Bank Group, vol. 5(1), pages 47-68, January.
  7. Sanjaya Lall, 2013. "Reinventing Industrial Strategy: The Role Of Government Policy In Building Industrial Competitiveness," Annals of Economics and Finance, Society for AEF, vol. 14(2), pages 785-829, November.
  8. Sanjaya Lall and Manuel Albaladejo (QEH), . "China’s Competitive Performance: A Threat To East Asian Manufactured Exports?," QEH Working Papers qehwps110, Queen Elizabeth House, University of Oxford.
  9. Przemyslaw Kowalski & Ben Shepherd, 2006. "South-South Trade In Goods," OECD Trade Policy Papers 40, OECD Publishing.
  10. Ma, Alyson & Assche, Ari Van & Hong, Chang, 2009. "Global Production Networks and the People's Republic of China's Processing Trade," ADBI Working Papers 175, Asian Development Bank Institute.
  11. THORBECKE, Willem, 2008. "The Effect of Exchange Rate Volatility on Fragmentation in East Asia: Evidence from the Electronics Industry," Discussion papers 08016, Research Institute of Economy, Trade and Industry (RIETI).
  12. Kim, Soyoung & Lee, Jong-Wha & Park, Cyn-Young, 2009. "Emerging Asia: Decoupling or Recoupling," Working Papers on Regional Economic Integration 31, Asian Development Bank.
  13. Kevin P. Gallagher & Mehdi Shafaeddin, 2009. "Policies for Industrial Learning in China and Mexico," Trade Working Papers 22782, East Asian Bureau of Economic Research.
  14. Kaldor, Nicholas, 1972. "The Irrelevance of Equilibrium Economics," Economic Journal, Royal Economic Society, vol. 82(328), pages 1237-55, December.
  15. Ng, Francis & Yeats, Alexander, 2003. "Major trade trends in East Asia : what are their implications for regional cooperation and growth," Policy Research Working Paper Series 3084, The World Bank.
  16. Mehrotra, Aaron & Kozluk , Tomasz, 2008. "The Impact of Chinese Monetary Policy Shocks on East Asia," BOFIT Discussion Papers 5/2008, Bank of Finland, Institute for Economies in Transition.
  17. Yýlmaz Akyuz, 2010. "Export Dependence and Sustainability of Growth in China and the East Asian Production Network," Working Papers 2010/7, Turkish Economic Association.
  18. Shigehisa Kasahara, 2004. "The Flying Geese Paradigm: A Critical Study Of Its Application To East Asian Regional Development," UNCTAD Discussion Papers 169, United Nations Conference on Trade and Development.
  19. Scott L. Baier & Jeffrey H. Bergstrand & Erika Vidal, 2007. "Free Trade Agreements In the Americas: Are the Trade Effects Larger than Anticipated?," The World Economy, Wiley Blackwell, vol. 30(9), pages 1347-1377, 09.
  20. Harm Zebregs, 2004. "Intraregional Trade in Emerging Asia," IMF Policy Discussion Papers 04/1, International Monetary Fund.
  21. Moen, J., 1998. "Trade and Development: Is South-South Co-operation a Feasible Strategy?," Papers 21/98, Norwegian School of Economics and Business Administration-.
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