Economic Implications of China‘s Accession to the WTO

I. IntroductionChina's accession to the World Trade Organization (WTO) on 11 December 2001 was a monumental event. Never has an accession to the WTO stirred up such intense emotions throughout the world: euphoria, envies, and, above all, fears. Workers on both sides of the Pacific Ocean and beyond have genuine fears of losing their jobs. Governments and entrepreneurs from both developing and developed countries are afraid of     

Comprehensive Impacts of China‘s WTO Entry on Its Industrial Sector

China's industry currently accounts for 45 percent of the country's GDP growth. With its fast growth rate, the industrial sector shores up the steady growth of the national economy and helps boost the development of other sectors. If China's industry suffers from the country's WTO entry, the development of the whole national economy will be greatly affected. The impacts will interact and lead to magnified effects in some areas. The purpose     

An Analysis and Forecast of China‘s Economy in 2002—2003

Supported by strong domestic demand, China's economy maintained rapid growth through recent years. In 2002, the first year after China's WTO entry, growth has exceeded all expectations. GDP in the first three quarters of 2002 reached 7.1682 trillion yuan, up 7.9 percent over the same period of last year. This outcome is attributable to a number of factors including the global     

Employment Effectiveness of China＇s Economic Stimulus Package

Using an input--output method, this paper simulates the impacts of the global financial crisis and the decline of exports on China＇s economy and employment. With shrinking external demand, boosting domestic demand becomes crucial for maintaining economic growth and promoting employment. Our simulated results indicate that an investment scenario with employment as a priority can achieve the objective of employment maximization without significantly reducing growth. Public investment should focus on employment, education, health, housing and social security to rebalance China＇s economy so that it can realize sustained and stable economic growth.     

Changes in China‘s Main Economic Indicators

┏━━━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━┳━━━━━━┳━━━━━┳━━━━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━┓┃ ┃ ┃ ┃ ┃ 2002 ┃ 2003 ┃┃ ┃ ┃ 2000 ┃ 200l ┃ ┃ ┃┃ ┃ ┃ ┃ ┣━━━━━┳━━━━━┳━━━━━╋━━━━━┳━━━━━┳━━━━━━┳━━━━━━┫┃ ┃ ┃ ┃ ┃ Total ┃ Q3 ┃ Q4 ┃ Q1 ┃ Jan. ┃ Feb, ┃ Mar. ┃┣━━━━━━━━━━━━━━━━╋━━━━━━━━━━━━━━━━━━━╋━━…     

The Research on the Relation between China＇s Accession to WTO and China＇s Economic Development under the Theory of Comparative Advantage

According to the theory of comparative advantage, the relation between China＇s accession to WTO and China＇s economic development is studied. And a positive conclusion is presented in this article.     

Changes in China‘s Main Economic Indicators

┏━━━━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━┳━━━━━━┳━━━━━┳━━━━━━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━┓┃ ┃ ┃ ┃ ┃ 2002 ┃ 2003 ┃┃ ┃ ┃ 2000 ┃ 200l ┃ ┃ ┃┃ ┃ ┃ ┃ ┣━━━━━━┳━━━━━┳━━━━━━╋━━━━━┳━━━━━┳━━━━━┳━━━━━━┫┃ ┃ ┃ ┃ ┃ Total ┃ Q3 ┃ Q4 ┃ Q1 ┃ Mat. ┃ Apr. ┃ May ┃┣━━━━━━━━━━━━━━━━━╋━━━━━━━━━━━━━━━━━━…     

What Role Will China Play in the World Labor Division System？

Since the 1990s, the Chinese economy has main-tained strong growth momentum despite the compli-cated and cjamgeable international environment. Duringthe 1989-2001 period, the average annual growth rate ofthe Chinese economy was 9.3 percent, making China oneof the fastest growing economies of the world (NBS,2002).     

Changes in China‘s Main Economic Indicators

…一口┏━━━━━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━┳━━━━━━┳━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┳━━━━━┓┃ ┃ ┃ ┃ ┃ 2002 ┃ 2003 ┃┃ ┃ ┃ 2000 ┃ 2001 ┃ ┃ ┃┃ ┃ ┃ ┃ ┣━━━━━┳━━━━━┳━━━━━┳━━━━━┳━━━━━━┳━━━━━━╋━━━━━┫┃ ┃ ┃ ┃ ┃ Total ┃ Q2 ┃ Q3 ┃ Q4 ┃ Nov. ┃ Dec. ┃ Jan. ┃┣━━━━━━━━━━━━━━━━━━╋━━━━━━━━━━━━━━━…     

China＇s Urban Employment and Urbanization Rate： A Re-estimation

The present paper argues that China＇s existing population and employment statistics are misleading, and have failed to include many of the migrant and labor force flows between urban and rural areas. The paper reconciles the differences between official census data and other survey statistics and attempts to recalculate China＇s urban population and employment figures. Our analyses indicate that official statistics of 2012 underestimate China ＇s urban employment by approximately 47 million while overestimating rural employment by 31 million. The adjusted urbanization rate exceeded 55 percent in 2012, almost 3 percentage points higher than the official statistics. Nevertheless, there remains much potential for rural-to-urban migration. More specifically, if the current bottlenecks in household registration, social security and public welfare systems can be removed or relaxed, China＇s urbanization rate could rise by another l O percentage points or even more over the next decade.     

China＇s Labor Transition and the Future of China＇s Rural Wages and Employment

This paper contributes to the assessment of China＇s rural labor markets. According to our data, the increase in off-farm employment that China experienced during the 1980s and 1990s continued during the 2000s. Our analysis shows that migration has become the most prevalent off-farm activity, although the destination of migrants is shifting from outside of one＇s province to destinations closer to home. The present paperfinds that large shares of male and female individuals, especially those under 40 years, are working off the farm. These findings represent an important contribution to the labor economics field. First, the results of the present paper reveal that the labor transition from the agricultural sector to the non-agricultural sector for key segments of China＇s rural labor force is nearly complete. Second, although a large share of China ＂s rural labor force work in agriculture, most of these workers are older men and women （and likely would not be willing to take low-wage, labor-intensive jobs）. Third, the rising unskilled wage rate in China is partially a result of the tightening of the labor force in the young age cohorts. Finally, due to factors associated with the one child policy and other demographic transition forces, successive age cohorts will continue to fall in absolute number in the coming decade. Assuming China＇s growth continues, we expect to see further wage increases since it will take higher wages to coax more workers to work off the farm.     

China‘s Economic Growth：New Trends and Implications

I. IntroductionSince the "reform and opening up" policy began in 1978, China has sustained high growth. This success is associated with a gradual market-oriented reform. A central feature of this gradual reform is that the dominant state-owned enterprises have not been directly privatized; instead, the government chose to gradually introduce market forces into the economy, and at the same time, gradually reduce restrictions on the development of market-oriented non-state-owned enterprises, especially rural collective enterprises.     

How to View the Problems in China‘s Economy？——In Response to the Notion of “Coming Collapse of China”

Of late,some scholars at home and abroad have presented or played up the notion that China is about to collapse,arousing a good deal of reaction and concern internationally.Chinese scholars and economists have responded to the notion from different angles.Printed here below are the views of Dr.Fan Gang.It is hoped that more people of insight would join the discussion.     

Financial Services in the Doha Round and China＇s Commitments

Current negotiations on financial services at the WTO are concerned with improving liberalization commitments over the Financial Services Agreement which became an integral part of the General Agreement on Trade in Services (GATS) in 1997. Important underlying issues of these negotiations are member states‘ policy decisions in two particular areas: capital account liberalization and prudential regulation. These decisions not only determine the member countries‘ scope for liberalization,, the liberalization commitments in turn also limit the scope of national economic poliey in these two areas. Taking these characteristics offinancial services talks into account, there are two major goals for the ongoing negotiations:for industrialized countries to make progress with respect to trade business and for developing countries and emerging-market economies to concentrate on improving market access on an established basis. For China, the most important goal is to implement the far-reaching liberalization commitments that were made in the context of its accession to the WTO in December 2001.     

Is the Export-led Growth Hypothesis Enough to Account for China＇s Growth？

One of the missing pieces preventing us from understanding recent Chinese economic development is the role played by openness and capital accumulation in this process. The question is whether the sharp economic＇ growth that the Chinese economy has experienced is another case of export-led growth due to the open-door policy or whether, on the contrary, this growth has been caused by high domestic savings and investment rates （and the consequent capital accumulation）. To answer this question, we employed an empirical framework of the cointegrated vector autoregressive model. The empirical results show that both investment （in physieal capital and R＆D） and exports, as well as the exchange rate policy, are relevant factors in explaining China＇s long-run economic growth over the past 4 decades.     

China‘s Financial Reform in the Context of Financial Stability and Efficiency

I. IntroductionAs Douglas North once said, "Institutions are the rules of the game in a society. The beginning of wisdom is to understand how the game is played." In the same way, it is vital to understand the international experience and rules of a financial system when a country tries to advance financial reform. International experience shows that the development