Structure of Comparative Advantage of China and India： Global and Regional Dynamics

This paper investigates the extent of competition between China and India in the world and ASEAN markets. The analysis is undertaken using the concept of revealed comparative advantage, relative market shares, long‐term trend analysis and statistical tests of convergence. In the context of the ASEAN market the evaluation of competition between India and China has been undertaken with special reference to the prior implementation of the ASEAN‐China Free Trade Area relative to the ASEAN‐India Free Trade Area. The results suggest that threat perceptions at the product level might currently prevail for both economies from each other across all sectors in both markets even though the intensity of the competitive threat varies across products. However, long‐term trend analysis shows that the patterns of comparative advantage of India and China are evolving along divergent paths and, therefore, competition between the two economies might not be a major issue.     

A Study of Sustainable Development of China＇s State-Level Economic and Technological Development Zones

State-level economic and technological development zones (ETDZs) are products of China‘s reform and opening-up policies and a new engine of growth for the Chinese economy. They have made tremendous contributions to the development of the Chinese economy. However,some problems have emerged in the course of this progress and new challenges are still lying ahead. Sustainable development is possible only when the strategy and objectives of development are adjusted, when the integrated investment environment is optimized, when industries are upgraded, when technical innovations are made, when independent innovation capabilities are lifted, when the mode of economic growth is changed, and when innovations are made in government management.     

China and India： An Era of Escalating Economic Interaction

I. Historic Cultural and Economic Relations China and India are both ancient civilizations, with histories stretching over 5000 years. Their mutual relations are also ancient. China and India have long-term intellectual and cultural ties, which historically fell in the domain of religious scholars. These strong ties date back to the first century AD when Buddhism spread from India to China. The history of Buddhism chronicles detailed accounts of religious and cultural bonds between the t…     

China＇s Foreign Trade and Investment： An Overview and Analysis

This study discusses the current development of China‘s trade and investment and their related issues. It presents data consistent with the hypothesis that Chinese firms try, to overcome market impediments, such as capital account inconvertibility and differential tax treatment between foreign and domestic firms, through trade and investment. Various challenges and opportunities related to China‘s future trade and investment are also discussed.     

Long-Term Development Trend of China＇s Economy and Importance of the Circular Economy

This paper aims to explore the solution to the contradiction between economic growth and resources and the eco-environment, based on an analysis of the features of China‘s economic development trend within a given future period, by promoting a new paradigm of technological economy, and speeding up development of the circular economy.     

Rise of China and India in International Trade： From Textiles to New Technology

China and India are two demographic giants that have become big developing economic powers. They have maintained their specialization in textiles and developed outward-oriented sectors linked to new technologies, taking advantage of offshoring and outsourcing. Their increasing contribution to international trade is changing the world supply and demand of manufactured goods, primary goods and services. They are new leaders in the international division of labor, but beyond technological catch-up, their challenge is quality upgrading. Both countries are increasingly contributing to global economic growth, but they cannot yet trigger the growth of the rest of the world by themselves.     

把握宏观趋势追踪行业发展——消费：劲拉经济稳步增长

出口、投资、消费是推动中国经济向前发展的三大动力在这三大动力中，消费是近一段时期最引人关注的领域。专家学者“热论”中国经济是否出现拐点，它是一项重要的参考指标     

Changing Engines of Growth in China： From Exports, FDI and Marketization to Innovation and Exports

This paper investigates the changing sources of growth in post-reform China. Using crossprovince regressions, this paper finds that, in earlier periods, exports, foreign direct investment and marketization were significantly related to per capita income growth, whereas＇ since the late 1990s, foreign direct investment and marketization have lost their significance and have been replaced by new sources of growth, such as innovation and knowledge, with only exports continuing to be important. This finding is robust after controlling for other variables representing other economic policies and provincial characteristics. We also tackle the possible endogeneity of innovation variables using the instrumental variables estimation method.     

Impact of the Global Financial Crisis on China： Empirical Evidence and Policy Implications

This paper applies a structural vector autoregression analysis to quantify the impact of the global financial crisis on China. It is found that the impact is indeed sizeable： a 1-percent decline in economic growth in the USA, the EU and Japan is likely to lead to a0. 73-percent decline in growth in China. The article discusses whether the current measures of fiscal stimulus are adequate to offset the sharp decline in external demand Although there is little doubt that the massive fiscal stimulus will largely offset the significant shortfalls in external demand, the current growth pattern in China will be increasingly unsustainable in the long term. China ＂s reform cycles suggest that external shocks are often opportunities for structural reforms. Therefore, the crisis could also be a catulyst for rebalancing China ＇s economic structure so as to return the economy to a sustainable path.     

China： Between Social Stability and Market Integration

I. IntroductionOver the past two and a half decades the Chinese leadership has succeeded in ensuring96 Giovanni B. Andornino, Russell G. Wilcox / 95 – 108, Vol. 14, No. 3, 2006 ?2006 The Authors Journal compilation ?2006 Institute of World Economics and Politics, Chinese Academy of Social Sciences economic growth while implementing policies engineered to allow gradual integration into the world economy in a more or less managed fashion.1 Starting from a position of isolation and suppo…     

A Comparative Analysis of Chinese-Nigerian Economic Reforms and Development Experiences

I. IntroductionThe economic reform process embarked on by the Chinese leaders in 1978 came at a time ofneed. In 1976, the political class that assumed the leadership saw the great need for economicreform and transformation. This vision was strengthened specifically by the assumption ofA Comparative Analysis of Chinese-Nigerian Economic115Reforms and Development Experiencespower by Deng Xiaoping. The formal diplomatic relations the P.R. China established withUnited States in 1979 furthe…     

中印经济之比较(英文)

The rapidly unfolding success stories of China and India are perhaps the best things tohave happened in the development realm over the last half a century or so. Otherwise, thepost-war development literature had, for most of the time, to talk only about the little Asiantigers while China and India provided attractive sites for dissertations on poverty.The fact that these two new stars of the developing world are neighbors adds to theinterest. It is hard to avoid a comparison between the two.…     

A Tale of Two Surplus Countries: China and Germany

Open Economies Review - We analyze current account imbalances through the lens of the two largest surplus countries; China and Germany. We observe two striking patterns visible since the 2007/8...     

What India Can Learn from China and Vice Versa

A partial convergence of the Indian and Chinese growth models is likely. Judging from China's experience, sustaining India's impressive economic performance of recent years will require a significant further opening of its economy (externally and internally), higher savings and investments, especially in physical infrastructure and social services, and stronger labor absorption in the modern sectors. The base of India's current economic boom - software, IT-related services and high-end manufacturing - is narrow compared to China's. Poor performance in agriculture is responsible for still significant poverty in many parts of rural India. Bilateral India-China ties, including trade and investment, are increasing rapidly and could help to bring about the structural economic changes India needs. Through its exports to China, India is becoming linked to global supply chains centered on China. The notion that India-China relations are, or are bound to become, fundamentally antagonistic, held by many in the USA, is mistaken and potentially dangerous.     

双城记

我想,在过去5年的时间里,凡是到过中国的人,没有人会怀疑中国将要在2008年举办一场有自己特色奥运会的决心。最近,我到2012年奥运会的承办城市伦敦走了一遭,却看到了一副与中国完全不同的场景。中国北京申办2008年奥运会得到了举国上下的支持。然而英国申办2012年奥运会则被多数人看作是前布莱尔政府想要恢复其急速衰退的声望的一种政治策略。许多人认为,英国目前有许多亟待解决的     

Manufacturing productivity in China and India: The role of institutional changes

In this paper we undertake a comparative study of productivity in the manufacturing sector for China and India using data from survey of manufacturing industries for the two countries. We find that productivity of manufacturing industries in China relative to that in India improved substantially over the 1998–2003 period. Specifically, the average total factor productivity (TFP) growth for the manufacturing sector over this period was about 11% higher in China than in India. We document two substantial changes in government policies in China that were not witnessed in India. First, the late 1990s saw an enormous wave of ownership restructuring due to the formal endorsement of private property rights by the Chinese central government. Second, in 1997 a large scale labour retrenchment program was launched to address the long standing problem of labour redundancy in the public sector. Using data from the Chinese survey of manufacturing industries, we quantify the impact of these large scale institutional changes on TFP of Chinese manufacturing industries. We find that these policy changes can explain about 30% of the growth in TFP of manufacturing industries. Hence we conclude that these institutional changes in China can account for a significant part of the gains in productivity of manufacturing industries in China relative to that in India over the 1998–2003 period.     

Pump Prices and Oil Prices: A Tale of Two Directions

It has been argued that retail gasoline prices adjust more quickly to crude oil price increases than to price decreases. We investigate this issue using the statewide data on weekly retail gasoline prices in the United States between January 2000 and June 2007. Our analysis does not confirm the prediction that gasoline prices adjust more quickly to price increases in crude oil prices. On the contrary, the results suggest that in some geographic areas gasoline prices could change faster when crude oil prices decrease. These findings suggest that a national or a one size fits all energy policy for the United States may be misguided.