China's Growing Role in World Trade

edited by Robert C. Feenstra and Shang-Jin Wei

University of Chicago Press, 2010
Cloth: 978-0-226-23971-2 | Paper: 978-0-226-23974-3 | Electronic: 978-0-226-23972-9
DOI: 10.7208/chicago/9780226239729.001.0001

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ABOUT THIS BOOKAUTHOR BIOGRAPHYTABLE OF CONTENTS

ABOUT THIS BOOK

In less than three decades, China has grown from playing a negligible role in international trade to being one of the world's largest exporters, a substantial importer of raw materials, intermediate outputs, and other goods, and both a recipient and source of foreign investment. Not surprisingly, China's economic dynamism has generated considerable attention and concern in the United States and beyond. While some analysts have warned of the potential pitfalls of China's rise—the loss of jobs, for example—others have highlighted the benefits of new market and investment opportunities for US firms.

Bringing together an expert group of contributors, China's Growing Role in World Trade undertakes an empirical investigation of the effects of China's new status. The essays collected here provide detailed analyses of the microstructure of trade, the macroeconomic implications, sector-level issues, and foreign direct investment. This volume's careful examination of micro data in light of established economic theories clarifies a number of misconceptions, disproves some conventional wisdom, and documents data patterns that enhance our understanding of China's trade and what it may mean to the rest of the world.

AUTHOR BIOGRAPHY

Robert C. Feenstra holds the C. Bryan Cameron Distinguished Chair in International Economics at the University of California, Davis, and he directs the International Trade and Investment Program at the National Bureau of Economic Research. Shang-Jin Wei is the N. T. Wang Professor of Chinese Business and Economy at Columbia University, and he directs the NBER Working Group on the Chinese Economy.

Introduction / Robert C. Feenstra and Shang-Jin Wei

I. Microstructure of International Trade

1. The Anatomy of China’s Export Growth / Mary Amiti and Caroline Freund

2. What Accounts for the Rising Sophistication of China’s Exports? / Zhi Wang and Shang-Jin Wei

3. China’s Local Comparative Advantage / James Harrigan and Haiyan Deng

4. China and the Manufacturing Exports of Other Developing Countries / Gordon H. Hanson and Raymond Robertson

II. Macroeconomic Issues

5. China’s Exports and Employment / Robert C. Feenstra and Chang Hong

6. Exporting Deflation?: Chinese Exports and Japanese Prices / Christian Broda and David E. Weinstein

7. China’s Current Account and Exchange Rate / Yin-Wong Cheung, Menzie D. Chinn, and Eiji Fujii

III. Sectoral Issues and Trade Policies

8. China’s WTO Entry: Antidumping, Safeguards, and Dispute Settlement / Chad P. Bown

9. China’s Experience under the Multi-Fiber Arrangement (MFA) and the Agreement on Textiles and Clothing (ATC) / Irene Brambilla, Amit K. Khandelwal, and Peter K. Schott

10. Agricultural Trade Reform and Rural Prosperity: Lessons from China / Jikun Huang, Yu Liu, Will Martin, and Scott Rozelle

11. Trade Growth, Production Fragmentation, and China’s Environment / Judith M. Dean and Mary E. Lovely

IV. Foreign Investment and Trade

12. Please Pass the Catch-Up: The Relative Performance of Chinese and Foreign Firms in Chinese Exports / Bruce A. Blonigen and Alyson C. Ma

13. Facts and Fallacies about U.S. FDI in China / Lee Branstetter and C. Fritz Foley

14. China’s Outward Foreign Direct Investment / Leonard K. Cheng and Zihui Ma

Contributors

Author Index

Subject Index