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e. Its demand for raw materials, especially to fuel the investment boom of recent years (including the 2008 Olympics), creates market pressure and higher prices for building materials. Likewise, the slowdown in China’s industrial production in the midst of the 2008-2009 global crisis has contributed to a dramatic fall in the commodity prices. The industrial production in China is also believed to have led to pollution in
1 Even Samuelson (2002) presents a case where the United States could be harmed by growth in China, if this growth occurs in products where the U.S. has a comparative advantage.
2
the country, which can spill over international borders, too. So the challenges created by China’s rapid growth and expanding trade are both domestic and international in scope. The goal of this volume is to investigate these issues raised by China’s growing role in world trade.
Some of the major trends in China’s exports and imports are summarized in Tables 1-10. In Table 1, we list the nominal value (in billions of U.S. dollars) of exports and imports attributed to “ordinary” versus “processing” trade, along with the share of export and import values in these categories. As their names suggests, “ordinary” trade includes imports that enter the country and are not destined to be incorporated into exported goods, or exports that did not rely specifically on imported inputs. Conversely, “processing” trade includes imports that enter the country duty-free and will be incorporated into exported goods, and exports that rely on these processing imports. These two categories do not exhaust the value of trade: besides ordinary and processing trade, there are also international aid flows, contracting projects, goods on lease, barter trade, and other categories of trade flows. But ordinary and processing trade make up the vast majority of trade flows, and together account for over 95% of exports and over 80% of imports.
As shown in Table 1, the nominal value of exports and imports has risen by roughly 10 times over 1992 – 2006 in both the ordinary and processing trade categories. That growth is especially rapid in the later years, however: the value of trade roughly doubled in the first seven years, to 1999, and then grew by nearly five times over the next seven years, to 2006, for a remarkable 25% annual growth rate in the last seven years. Despite this very rapid growth, the shares of processing trade does not change that much. On the export side, the share of processing trade rose from 47% in 1992 to a high of 57% in 1999, and then fell back to 53% by 2006. Likewise, on the import side,

with the share of processing trade rising from 39% in 1992 to a

 

1. Introduction Robert C. Feenstra and Shang-Jin Wei
Part I. Microstructure of International Trade
2.
An Anatomy of China’s Export Growth Mary Amiti and Caroline Freund Discussant: Bin Xu
3.
The Rising Sophistication of China’s Exports: Assessing the Roles of Processing Trade, Foreign invested Firms, Human Capital and Government Policies Zhi Wang and Shang-Jin Wei Discussant: Galina Hale
4.
China’s Local Comparative Advantage Haiyan Deng and James Harrigan Discussant: Chong Xiang
5.
China and the Manufacturing Exports of Other Developing Countries Gordon Hanson and Raymond Robertson Discussant: Irene Brambilla
Part II. Macroeconomic Issues
6.
China’s Exports and Employment Robert Feenstra and Chang Hong Discussant: Michael本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。