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Title: China as an economic powerhouse: Implications on its neighbors
Authors: Abeysinghe, T. 
Lu, D. 
Keywords: Export-driven economy
Internal-demand-driven economy
Output multiplier effects
Structural VAR analysis
Trade links
Issue Date: 2003
Citation: Abeysinghe, T., Lu, D. (2003). China as an economic powerhouse: Implications on its neighbors. China Economic Review 14 (2) : 164-185. ScholarBank@NUS Repository.
Abstract: The rise of China as an economic powerhouse has caused concerns in its neighbors. Prevailing in the region is the fear that China is becoming a gigantic "regional factory" that will "hollow out" neighboring economies' industries. In this paper, we emphasize the economic benefits that a rising Chinese economy can bring into the region. A discussion on the country's growth strategy suggests that China has recently started shifting from an export-oriented economy to a more domestic-demand-driven one. Such a shift, in the backdrop of China's entry into the World Trade Organization, is opening up the country's huge domestic market for imports, thus providing great opportunities for the regional economies. A custom-made structural VAR analysis based on trade-links in the region provides empirical evidence that China had quickly emerged as a growth engine in the region even before China joined the WTO and made a full transformation of its growth model.©2003 Elsevier Inc. All rights reserved.
Source Title: China Economic Review
ISSN: 1043951X
DOI: 10.1016/S1043-951X(03)00017-8
Appears in Collections:Staff Publications

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