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

IMF Working Papers, December 1, 2003

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

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Bibliographic details

• Authors: Yongzheng Yang
• Published: December 1, 2003
• Series: IMF Working Papers
• DOI: https://doi.org/10.5089/9781451875867.001

Summary

• Author: Yongzheng Yang
• Date: December 1, 2003
• Core argument: 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.
• Context: Examination of the implications of China’s WTO accession for other developing countries in the context of China’s long-term process of growth and opening up.
• Noted concerns: 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.

Key findings and implications

• Short-to-medium term:
  • China’s integration is expected to impose adjustment costs on trading partners.
• Long run:
  • Benefits generated by China’s integration are likely to dominate the short-to-medium-term adjustment costs.
• Trade and investment channels highlighted:
  • Competition in world goods markets.
  • Competition in capital markets.
  • Implications analyzed in light of China’s accession to the WTO and ongoing opening up.

Subjects and keywords

• Subjects: Balance of payments, Exports, Foreign direct investment, Imports, International trade, Tariffs, Taxes, Trade barriers
• Keywords: accession to the WTO, China, China's growth, China's imports, comparative advantages vis-à-vis China, developing countries, developing country, East Africa, export, export competition, Exports, FDI diversion, FDI inflow, Foreign direct investment, Global, Imports, investment regime, Middle East, processing industry, South Asia, Southeast Asia, Tariffs, textile and clothing, trade, Trade barriers, trade reform, trading partners, WP, WTO accession

Content in this bundle

• China's Intergration into the World Economy: Implications for Developing Countries - WP/03/245
  • China's Intergration into the World Economy: Implications for Developing Countries - WP/03/245 (Markdown version)
  • China's Intergration into the World Economy: Implications for Developing Countries - WP/03/245 (PDF)