Abstract: This paper investigates the extent of China's export boom in machinery and analyzes trade in components and finished machinery between China and Southeast Asia. China has increased its world market share in machinery exports. The median relative unit value of its finished machinery exports has also risen. Yet the author finds no evidence that China's expansion in the world machinery market has squeezed the market shares of Southeast Asian machinery exports. Instead, components made by Southeast Asian countries are increasing in unit value and gaining market share in China.
This paper investigates the extent of China's export boom in machinery and analyzes trade in components and finished machinery between China and Southeast Asia. China has increased its world market share in machinery exports. The median relative unit value of its finished machinery exports has also risen. Yet the author finds no evidence that China's expansion in the world machinery market has squeezed the market shares of Southeast Asian machinery exports. Instead, components made by Southeast Asian countries are increasing in unit value and gaining market share in China.
This paper investigates the extent of China's export boom in machinery and analyzes trade in components and finished machinery between China and Southeast Asia. China has increased its world market share in machinery exports. The median relative unit value of its finished machinery exports has also risen. Yet the author finds no evidence that China's expansion in the world machinery market has squeezed the market shares of Southeast Asian machinery exports. Instead, components made by Southeast Asian countries are increasing in unit value and gaining market share in China.
This book presents a comprehensive analysis of current trends of trade and economic growth in Asia, assessing how they are likely to develop in the future. It examines the evolving patterns of Asian economic development with the emergence of China, including since China’s accession to the World Trade Organisation (WTO) in 2001. It is written by experts specialising in economic growth and regional and global trade/investment issues, alongside country specialists who have examined the development path of Asian economies. It discusses the significance of a export-oriented growth strategy on the Asian region, and the likely patterns of intra-regional specialisation given China’s rise. The book examines the degree to which the remarkable growth of China is likely to affect other Asian countries in terms of global market share, and growth prospects. The book explores how the rise of intra-industry trade is affecting patterns of specialisation in the region, and appraises the role of multinational corporations and foreign direct investment. Informed by the latest empirical economic thinking, this book is a rigorous examination of the influence of an emerging economic superpower, and the future for economic growth in Asia. Readers interested in the implications of the rise of China, the effect on the economic development path of the most successful developing nations of our time and the lessons to be heeded from China’s integration with the global economy will find this a thorough yet accessible account of the influence of an emerging economic superpower.
Since the early 2000s, India's economic performance has been celebrated and disparaged by different sections of the international policy community. The exuberance of India's own economic managers and business elites culminated in the dramatic failure of the 'India shining' election campaign in 2004. Against such a backdrop, it became imperative to examine India's true position in the world economy and specifically its relative performance vis-¿is China, the default benchmark for contemporary economic success. Chasing the Dragon: Will India Catch Up with China?addresses one of the most relevant questions of contemporary times-whether Asia's two giant economies will reclaim their historical position in the international political economy-and in India's case, critically examines its prospects for overcoming its disparity with its northern neighbour. Using empirical data compiled from diverse sources, it evaluates the legacies of the two professedly socialist yet very different systems in terms of human development and economic infrastructure. This book offers an extensive survey of the first decades after reforms in India and China, along with the economic changes in the post-reforms period as a whole, and the nature of the lead opened up by China. The role of investments made by overseas actors, the competition for natural resources, and the export markets that are bound to emerge soon between India and China are all explored and their implications discussed. The authors evaluate the prospects of India catching up with China, and indicate how this might be accomplished. Rich in analysis and debate, this book will be invaluable to students of international business, economics, international relations, the media, business houses, policy makers, and ministries of finance and external affairs.
"Connecting" and "distancing" have been two prominent themes permeating the writings on the historical and contemporary developments of the relationship between Southeast Asia and China. As neighbours, the nation-states in Southeast Asia and the giant political entity in the north communicated with each other through a variety of diplomatic overtures, political agitations, and cultural nuances. In the last two decades with the rise of China as an economic powerhouse in the region, Southeast Asia's need to connect with China has become more urgent and necessary as it attempts to reap the benefit from the successful economic modernization in China. At the same time, however, there were feelings of ambivalence, hesitation and even suspicions on the part of the Southeast Asian states vis-a-vis the rise of a political power which is so less understood or misunderstood. The contributors of this volume are authors of various disciplinary backgrounds: history, political science, economics and sociology. They provide a spectrum of perspectives by which the readers can view Sino-Southeast Asia relations.
Growth and Sustainability in Brazil, China, India, Indonesia and South Africa is based on the proceedings of a conference, organised by the OECD, on the growth performance of these large emerging-market economies. The book brings together contributions from distinguished policy makers and scholars.
East Asian countries were notably uninterested in regional monetary integration until the late 1990's, when the Asian financial crisis revealed the fragility of the region's exchange rate arrangements and highlighted the need for a stronger regional financial architecture. Since then, the countries of East Asia have begun taking steps to explore monetary and financial cooperation, establishing such initiatives as regular consultations among finance ministers and central bank governors and the pooling of foreign exchange reserves. In this book Ulrich Volz investigates the prospects for monetary cooperation and integration in East Asia, using state-of-the-art theoretical and empirical tools to analyze the most promising policy options. --
The fourth installment of the Fisher Investments On series is a comprehensive guide to understanding and analyzing investment opportunities within the global Industrials sector. Fisher Investments on Industrials can help you quickly become familiar with this highly diversified sector, how the sector is segmented by industries, their respective macroeconomic drivers, and the challenges facing Industrials firms. This reliable guide skillfully addresses how to determine optimal times to invest in Industrials stocks, and which industries and sub-industries have the potential to perform well in various environments. The global Industrials sector is complex, including a variety of sub-industries and countries—each with their own unique characteristics. Using the framework found here, you'll discover how to identify these differences, spot opportunities, and avoid major pitfalls. Fisher Investments on Industrials: Discuses industry fundamentals, drivers, attributes, and potential challenges Profiles each of the Industrials sector's sub-industries, broken down by industry group: Capital Goods, Transportation, and Commercial Services & Supplies Delves into a top-down investment methodology as well as individual security analysis led with in-depth insights and expert advice, Fisher Investments on Industrials provides a framework for understanding this sector and can help you make better investment decisions—now and in the future. With this book as your guide, you can quickly gain a global perspective of investing with regard to Industrials. For more information visit www.industrials.fisherinvestments.com
Abstract: This paper examines the export performance of 99 countries over 1995-2004 to understand the relative roles of export growth through "discovery" of new products and growth during post-discovery phases of the export product cycle - acceleration and maturation - in existing markets and expansion into new geographic markets. The authors find that expanding existing products in existing markets (growth at the intensive margin) has greater weight in export growth than diversification into new products and new geographic markets (growth at the extensive margin). Moreover, growth into new geographic markets appears to be more important than discovery of new export products in explaining export growth. Of particular importance is whether an exporting country succeeds in reaching more national markets that are already importing the product it makes. This geographic index of market penetration is a powerful explanatory variable of export performance. This suggests that governments should not focus solely or even primarily on the discovery channel, but also seek to identify and address market failures that are constraining exporters in subsequent phases of the export cycle.
