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

December 1, 2003

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Format: Chicago

Yongzheng Yang. China'S Integration Into the World Economy: Implications for Developing Countries, (USA: International Monetary Fund, 2003) accessed November 8, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

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.

Subject: 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

Publication Details

Pages:

30
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2003/245
Stock No:

WPIEA2452003
ISBN:

9781451875867
ISSN:

1018-5941

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