China's Growing Role in World Trade

by Feenstra, Robert C.

• ISBN13: 9780226239712
• ISBN10: 0226239713
• Format: Hardcover
• Copyright: 2010-03-15
• Publisher: Univ of Chicago Pr

Summary

In less than three decades, China has grown from playing a negligible role in world trade to being one of the world's largest exporters, a substantial importer of raw materials, intermediate outputs, and other goods, and both a recipient and source of foreign investment. Not surprisingly, China's economic dynamism has generated considerable attention and concern in the United States and beyond. While some analysts have warned of the potential pitfalls of China's risethe loss of jobs, for exampleothers have highlighted the benefits of less expensive goods and services purchased by U.S. consumers along with new market and investment opportunities for U.S. firms. Bringing together an expert group of contributors,China's Growing Role in World Tradeundertakes an empirical investigation of the effects of China's new status. The essays collected here provide detailed analyses of the microstructure of trade, the macroeconomic implications, sector-level issues, and foreign direct investment. This volume's careful examination of micro data in light of established economic theories clarifies a number of misconceptions, overturns some conventional wisdom, and documents data patterns that enhance our understanding of issues related to China's trade.

Author Biography

Robert C. Feenstra holds the C. Bryan Cameron Distinguished Chair in International Economics at the University of California, Davis, and he directs the International Trade and Investment Program at the National Bureau of Economic Research. Shang-Jin Wei is the N. T. Wang Professor of Chinese Business and Economy at Columbia University, and he directs the NBER Working Group on the Chinese Economy.

Table of Contents

Introduction	p. 1
Microstructure Of International Trade
The Anatomy of China's Export Growth	p. 35
What Accounts for the Rising Sophistication of China's Exports?	p. 63
China's Local Comparative Advantage	p. 109
China and the Manufacturing Exports of Other Developing Countries	p. 137
Macroeconomic Issues
China's Exports and Employment	p. 167
Exporting Deflation? Chinese Exports and Japanese Prices	p. 203
China's Current Account and Exchange Rate	p. 231
Sectoral Issues and Trade Policies
China's WTO Entry: Antidumping, Safeguards, and Dispute Settlement	p. 281
China's Experience under the Multi-Fiber Arrangement (MFA) and the Agreement on Textiles and Clothing (ATC)	p. 345
Agricultural Trade Reform and Rural Prosperity: Lessons from China	p. 397
Trade Growth, Production Fragmentation, and China's Environment	p. 429
Foreign Investment and Trade
Please Pass the Catch-Up: The Relative Performance of Chinese and Foreign Firms in Chinese Exports	p. 475
Facts and Fallacies about U.S. FDI in China	p. 513
China's Outward Foreign Direct Investment	p. 545
Contributors	p. 581
Author Index	p. 585
Subject Index	p. 589
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