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11. The Impact of Economic Globalisation on Firm Performance and the Labour Market: Evidence from Japan

Author:
Keiko Ito
Publication Date:
10-2019
Content Type:
Working Paper
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
This paper summarises the major findings and arguments in the literature on the impact of globalisation on firm performance and the labour market, focusing on the case of Japan. Internationalised firms show better performance. Although offshoring has shifted labour demand towards skilled workers, thedirect contribution of globalisation to the widening wage gap is quite limited. The empirical evidence for Japan is more or less consistent with that for other developed countries, but some observations on Japan are worth pointing out. First, several empirical studies confirm a learning-by-exporting effect. Second, there is no strong evidence that increases in imports from China have reduced domestic employment. Increases in imports from China have a positive effect on value added growth in downstream industries, implying that imports from China are likely to be complementary to domestic production in Japan.
Topic:
Globalization, Industrial Policy, Labor Issues, Exports, and Imports
Political Geography:
Japan, China, and Asia

12. Exchange rate pass-through to import prices: Accounting for changes in the Eurozone trade structure

Author:
Valérie Mignon and Antonia Lopez-Villavicencio
Publication Date:
06-2019
Content Type:
Working Paper
Institution:
Centre d'Etudes Prospectives et d'Informations Internationales (CEPII)
Abstract:
This paper assesses whether the emergence of new trading partners (i.e., China and Eastern Europe) as suppliers reduces the exchange rate pass-through (ERPT) in Eurozone countries which differ regarding their external exposure. Using bilateral data on import prices at the two-digit sector level, we find that (i) pass-through is complete in many cases, (ii) ERPT from China is higher than from the United States, and (iii) there is no compelling evidence of a generalized link between ERPT and the increasing integration of some emerging markets in European imports. We also show that the launch of the single currency has not provoked a sufficient change in the part of trade exposed to exchange rate fluctuations and, therefore, has not affected the pass-through. Overall, the trend of liberalization in new players' markets has not altered the competitive environment such as to induce exporters of other countries to absorb exchange rate depreciations.
Topic:
Economics, International Political Economy, International Trade and Finance, Exchange Rate Policy, Eurozone, Trade, and Imports
Political Geography:
China, Europe, and Eastern Europe

13. Expo promotes high-quality development

Author:
Dong Yan and Wen Jun
Publication Date:
11-2019
Content Type:
Policy Brief
Abstract:
China will promote higher-level opening-up by continuing to expand access to its market, increase imports, foster a world-class business environment, deepen multilateral and bilateral cooperation and jointly build the Belt and Road Initiative. This is the promise President Xi Jinping made in his keynote speech at the second China International Import Expo in Shanghai on Tuesday. ...... China's imports have made important contributions to global trade and economic growth, accounting for 10.67 percent of the global goods imports last year. At the second CIIE, which concludes on Sunday, more than 150 countries, regions and international organizations from across five continents are showcasing their development results while more than 3,000 enterprises are holding talks with purchasing agents both inside and outside China. The CIIE is a platform for not only trading goods and services, but also exchanging ideas and discussing global trade issues.
Topic:
Development, International Trade and Finance, Business, Trade, and Imports
Political Geography:
China and Asia

14. The 2018 US-China Trade Conflict after 40 Years of Special Protection

Author:
Chad P. Bown
Publication Date:
04-2019
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
In 2018, the United States suddenly increased tariffs on nearly 50 percent of its imports from China. China immediately retaliated with tariffs on more than 70 percent of imports from the United States. This paper assesses what happened in 2018 and attempts to explain why. It first constructs a new measure of special tariff protection to put the sheer scope and coverage of the 2018 actions into historical context. It then uses the lens provided by the 2018 special tariffs to explain the key sources of economic and policy friction between the two countries. This includes whether China’s state-owned enterprises and industrial subsidies, as well as China’s development strategy and system of forcibly acquiring foreign technology, were imposing increasingly large costs on trading partners. Finally, it also examines whether the US strategy to provoke a crisis—which may result in a severely weakened World Trade Organization—was deliberate and out of frustration with the institution itself.
Topic:
Economics, International Trade and Finance, World Trade Organization, Bilateral Relations, Trade Wars, Donald Trump, and Imports
Political Geography:
China, Asia, North America, and United States of America

15. Opinion: China International Import Expo: New era, shared future

Author:
Su Qingyi
Publication Date:
07-2018
Content Type:
Policy Brief
Abstract:
The first China International Import Expo (CIIE) will be held from November 5 to 10 in Shanghai. The theme of the CIIE is "New Era, Shared Future," which has rich connotations. The first implication of the new era is that countries around the world begin to realize the importance of imports Economists usually emphasize sellers and exporters when they analyze the exchange between peoples and trade between countries. They tend to attach importance to exports when participating in international trade, and try to promote the growth of export.
Topic:
Markets, Economy, Trade, and Imports
Political Geography:
China and Asia

16. China will further open up but not due to US pressure

Author:
Dong Yan
Publication Date:
04-2018
Content Type:
Policy Brief
Abstract:
China will take measures to further open up to the outside world, Xi said in his highly-anticipated keynote address at the Boao Forum for Asia. But amid the escalating China-US trade conflict, some people have wrongly assumed Xi made the remarks with the Trump administration's accusations in mind. But a review of China's policies shows the country will deepen reform and opening-up because of its practical development needs, not because of any other country's demand or coercion. As for the expansion of imports, China shifted its focus from exports to striking the right balance between imports and exports long ago, because the increase in imports will offer more choices to Chinese consumers and help improve their living standards, aside from giving foreign companies easier access to the Chinese market.
Topic:
Markets, Trade Wars, and Imports
Political Geography:
China, Asia, North America, and United States of America