The China Miracle Demystified Justin Yifu Lin The World Bank When China began its transition from a planned to a market-oriented economy in 1979, it was a poor, inward-looking country with a per capita income of US$182 and a trade dependence (trade to GDP) ratio of 11.2 percent. 1 China’s economic performance since then has been miraculous. Annual GDP growth averaged 9.9 percent over the 30-yea...

We provide evidence on the existence of short-run trade diversion effects towards third countries as a consequence tariff shocks. exploit sudden policy changes in context dispute between United States and China 2018. Based data set covering monthly product-level information US imports from 30 for period 2016 until May 2019, we employ difference-in-differences estimation framework. Doing so, can...

As the chances of a successful conclusion to the Doha Round of trade liberalization under the WTO become increasingly problematic, so the pace of negotiating local free trade agreements (FTAs) is increasing. According to the WTO report, countries in the Asia-Pacific region are “consolidating their drive towards regionalism at an accelerated pace”. After the trade agreements between China an...

Using a gravity model of trade and the U.S. and Chinese panel data, I present evidence that supports the views that linguistic links have become more important in foreign trade than geographical proximity and that linguistic influence on trade is more significant in China than in the U.S. The estimated result based on a broad panel of economies shows little overall relation between religious si...

For the last half century, international trade has been an important contributor to the growth of the world economy. Similarly, over the past twenty years, after China’s decision to pursue a market opening policy, the growth of the Chinese economy has been led by the rapid growth of its exports and imports. However this growth in international trade has been accompanied by an increase in the nu...

The US–China trade war creates significant opportunities for developing countries, as global manufacturers need to relocate their production facilities out of China avoid future tariff hikes. However, Indonesia the biggest economy in ASEAN is not experiencing any substantial advantage relative its neighbors, especially compared Vietnam. While there no clarity on how long will last, it important...

In light of the recent tit-for-tat trade dispute between China and US, interest in quantifying effects so-called phase one agreement has risen. To this end, paper quantifies impact asymmetric managed using such a multi-country open-economy dynamic general equilibrium model. Besides assessing direct implications for diversion are also analyzed. The model-based analysis finds noticeable positive ...