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31. China: Highlights and Key Issues

Publication Date:
10-2012
Content Type:
Policy Brief
Institution:
Oxford Economics
Abstract:
The Chinese economy expanded by 7.4% year-on-year in Q3, down from 7.6% in Q2, but stronger than we had expected. Of particular surprise was the implied quarterly growth rate; based on the seasonally adjusted data released by the NBS, the economy expanded at an annualised rate of 9.1%, the strongest since 2011Q3.
Topic:
Economics, Industrial Policy, International Trade and Finance, and Markets
Political Geography:
China and Syria

32. Freeing the Global Market: How to Boost the Economy by Curbing Regulatory Distortions

Author:
Shanker A. Singham
Publication Date:
10-2012
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
The U.S. economy faces major challenges competing internationally. One of the most worrisome is the growing use in China and other advanced developing countries of anticompetitive market distortions (ACMDs)—including regulatory protection that privileges specific companies—which put foreign competitors at a disadvantage. ACMDs are government actions that give certain business interests artificial competitive advantages over their rivals, be they foreign or domestic, to the detriment of consumer welfare. These market distortions are especially damaging to the industries in which the United States enjoys the greatest comparative advantages, but they are also harmful to the long-term prosperity of developing economies and cost the global economy trillions of dollars. To combat ACMDs, the conventional trade policy approach of focusing on the The U.S. economy faces major challenges competing internationally. One of the most worrisome is the growing use in China and other advanced developing countries of anticompetitive market distortions (ACMDs)—including regulatory protection that privileges specific companies—which put foreign competitors at a disadvantage.1 ACMDs are government actions that give certain business interests artificial competitive advantages over their rivals, be they foreign or domestic, to the detriment of consumer welfare. These market distortions are especially damaging to the industries in which the United States enjoys the greatest comparative advantages, but they are also harmful to the long-term prosperity of developing economies and cost the global economy trillions of dollars.
Topic:
Economics, Emerging Markets, Globalization, International Trade and Finance, and Markets
Political Geography:
Russia, United States, China, India, and Brazil

33. A new economic nationalism? Lessons from the PotashCorp decision in Canada

Author:
Sandy Walker
Publication Date:
08-2012
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
In its World Investment Report 2011, UNCTAD reported that liberalizing investment policy measures taken globally in 2010 outnumbered restrictive measures. Without the benefit of statistics, investors might have drawn the opposite conclusion, witnessing what appears to be a rising tide of national resistance to foreign takeovers: the Australian Foreign Investment Review Board's rejection of a takeover of the Australian Securities Exchange by the Singapore Exchange, Italian concern over a French company's takeover of dairy giant Parmalat and the US Government's requirement that Chinese company Huawei divest certain assets it had acquired from 3Leaf.
Topic:
Economics, International Trade and Finance, Markets, and Foreign Direct Investment
Political Geography:
United States, China, Canada, Australia, and Singapore

34. China: Industry Forecast

Publication Date:
08-2012
Content Type:
Policy Brief
Institution:
Oxford Economics
Abstract:
GDP is expected to rise by 7.9% in 2012 and expand by 8.7% in 2013. Over the next 10 years to 2021, GDP is predicted to grow on average by 7.8% a year. Manufacturing output growth is forecast to be higher than GDP growth over the next decade. Manufacturing output is expected to increase by 8.8% in 2012 and expand by 9.4% in 2013. Over the next 10 years to 2021, manufacturing output is expected to grow on average by 7.9% a year. As a result, the share of manufacturing output in GDP is projected to rise from 34.0% in 2011 to 35.1% by 2016 and increase to 35.6% by 2021. Over the same period, the share of service sector output in GDP is expected to expand from 41.7% in 2011 to 43.8% in 2016 and rise to 45.5% in 2021.
Topic:
Economics, Industrial Policy, International Trade and Finance, Markets, and Foreign Direct Investment
Political Geography:
China and Israel

35. Retail 2022: How the Economist Intelligence Unit sees the retail landscape changing over the next decade

Publication Date:
11-2012
Content Type:
Working Paper
Abstract:
Markets of the future—China, India, Brazil and Russia—will become the dominant retail markets l Africa, the final frontier—as BRIC opportunities diminish retailers will look to Africa as a driver of growth l Virtual marketplace— e-commerce, m-commerce and s-commerce—will transform the global retail landscape l Bricks and mortar will fight back as traditional retailers respond to change by integrating online with physical store offerings l Convenience will be king as shopping habits evolve into a multichannel approach rather than “one-stop shopping” l UK focus: polarised shopping habits could continue even when incomes recover, leading to an even greater squeeze on mid-market retail by 2022.
Topic:
Economics, Emerging Markets, International Trade and Finance, Markets, Science and Technology, and Communications
Political Geography:
Russia, China, United Kingdom, India, and Brazil

36. The Emergence of China in the Middle East

Author:
James Chen
Publication Date:
01-2012
Content Type:
Working Paper
Abstract:
During the 9th century, Arab traders regularly plied lucrative maritime routes that connected the Persian Gulf to southern China by way of the Indian Ocean. This commercial activity, which mostly involved jade, silk, and other luxury goods, went on for centuries and became part of what is now known as the Silk Road. In some ways, the world is now witnessing a restoration of that ancient trading relationship between two civilizations—except that oil and consumer goods have replaced jade and silk.
Topic:
Foreign Policy, International Trade and Finance, Markets, and Foreign Direct Investment
Political Geography:
China, Middle East, and Arabia

37. Pharmaceutical Price Regulation: Macro-Level Evidence from China between 1997 and 2008

Author:
Qiong Zhang, Binzhen Wu, and Xue Qiao
Publication Date:
01-2012
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
This paper uses macro-level data between 1997 and 2008 to evaluate the effects of China's pharmaceutical price regulations. We find that these regulations had short-run effects on medicine price indexes, reducing them by less than 0.5 percentage points. The effects could have been slightly reinforced when these regulations were imposed on more medicines. However, these regulations failed to reduce household health expenditures and the average profitability of the pharmaceutical industry, and firms on the break-even edge were worse off. Finally, although these regulations have no significant effects on the price of substitutes or complements for medicines, they increased expensive medicine imports.
Topic:
Economics, Health, Human Welfare, Industrial Policy, International Trade and Finance, and Markets
Political Geography:
China

38. Africa: open for business The potential, challenges and risks

Publication Date:
02-2012
Content Type:
Working Paper
Abstract:
Africa is drawing increasing attention, not only from the perspective of businesses based in China and Europe, but also from operators in Africa itself. In particular, closer economic ties between Africa and China have been covered extensively by the media recently—with fairly mixed reviews. This paper highlights the potential, challenges and risks for doing business in Africa over the next few years.
Topic:
Development, International Trade and Finance, Markets, Foreign Aid, and Foreign Direct Investment
Political Geography:
Africa, China, and Europe

39. Is Chinese FDI pushing Latin America into natural resources?

Author:
Miguel Pérez Ludeña
Publication Date:
03-2012
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Chinese foreign direct investment (FDI) in Latin America is a recent phenomenon. Although the China National Petroleum Corporation and other companies have been present in Peru, Ecuador and Venezuela since the early 1990s, large projects have been pursued only since 2006, following an extended period of high commodity prices. The Economic Commission for Latin America and the Caribbean (ECLAC) estimated that there were US$ 15 billion of Chinese FDI inflows into Latin America in 2010, 90% of which were in extractive industries. This further contributed to the already high percentage of Chinese FDI flows to the region that are in natural resources. At a time of high economic growth fueled by commodity exports and strong currency appreciation (particularly in Brazil), FDI into extractive industries strengthens the region's specialization in primary products at the expense of manufacturing and other activities.
Topic:
Economics, International Trade and Finance, Markets, Natural Resources, and Foreign Direct Investment
Political Geography:
China, Brazil, Latin America, and Peru

40. The unbalanced dragon: China's uneven provincial and regional FDI performance

Author:
Karl P. Sauvant, Chen Zhao, and Xiaoying Huo
Publication Date:
03-2012
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Among developing countries, China attracts most foreign direct investment (FDI). Where is this investment located within China, what explains its distribution and what are policy implications? We used UNCTAD's FDI Performance Index to answer the first question. Although developed for countries , it can be applied to sub-national units. It uses provincial GDP to ascertain whether a given territorial unit has received FDI inflows as expected from its economic size. Standardizing the data accordingly reveals three clusters of provinces for 2007-2010 (table 1, figure 1 below): The first cluster encompasses virtually all coastal provinces: they have an index value above 1, i.e. perform better than their economic size would lead one to expect. They account for 9 of the top 11 performers of Mainland China's 31 provinces, municipalities and autonomous regions (“provinces”). The provinces in the middle cluster underperform (index value of 1-0.5). They include 5 central provinces, but also 3 western and 2 coastal provinces. The provinces in the bottom cluster underperform significantly (index value below 0.5), comprising primarily the country's western provinces (8 out of the 10 provinces in this cluster).
Topic:
Development, Economics, International Trade and Finance, Markets, and Foreign Direct Investment
Political Geography:
China