Friday, August 31, 2012

How did China’s rise affect competitiveness across advanced economies?

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How did China’s rise affect competitiveness across advanced economies?
Irineu de Carvalho Filho
August 31, 2012

Abstract: The rapid growth in exports and import demand of a large country has the potential to change world prices and transmit terms of trade shocks to distant economies. This note shows that the advanced economies whose patterns of export specialization most closely resembled Chinese ones appear to have been penalized in terms of export and GDP growth. The evidence is also suggestive that exposure to Chinese competition may have played a role in the lack of economic dynamism of some peripheral Euro area members.

 

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