China’s Specialization in East Asian Production Sharing

Abstract

Since 1980, China’s economy has grown at the rate of 9 percent a year and its foreign trade has expanded at the pace of almost 15 percent a year. Its share of world trade rose from less than 1 percent to about 5 percent in 2002. 1 The emergence of China as a great economic and trade power is bringing far-reaching changes in the world economy and in international economic relations. China now holds a large share of the world market in traditional industries (accounting for about one-third of world exports in leather and shoes and one-fifth in clothing), but is also rapidly enlarging its shares in electrical and electronic exports, the fastest growing segments of world trade. In 2002 China recorded one-fifth of world exports of consumer electronics and of domestic appliances. For East Asian countries, China has become a major partner, often their first partner in the region. In 2003, China was Japan’s second-largest export market, behind the US, and its first-largest supplier. For South Korea, China was the largest export market and its second-largest supplier behind the US. In 2003 and 2004, the accelerated increase of China’s import demand (+40 percent and 37 percent respectively) has been the engine of economic growth in East Asia. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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