A Chinese Renaissance in an Unremittingly Integrating Asian Economy

Author: Das, Dilip

Source: Journal of Contemporary China, Volume 18, Number 59, March 2009 , pp. 321-338(18)

Publisher: Routledge, part of the Taylor & Francis Group

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Abstract:

This paper attempts to address an imperative topic in Asian economic development: the relationship between China's economic expansion and Asian economic growth. It tries to answer the all important query, whether China's economic ascent is a threat or an opportunity for the Asian economies. Due to the size of its economy, its openness and the rapidity of its GDP growth, China is swaying the individual Asian economies as well as the regional economy. When a significant-size economy is growing almost three times as rapidly as the global economy, the neighboring economies cannot possibly expect to remain impervious. Various issues are analyzed in the paper, including foreign direct investment inflows and impacts, regional production networks, plausible scenarios for China and the remaining Asian economies, and strategy for coping with China's rapid development. Although some Asian economies and some sectors will face adverse effects—short- or long-term—of China's rapid growth, the apocalyptic predictions are grossly overdone. For the most part, the impact of China's rapid growth can be mutually beneficial. This is the conclusive idea of this paper.

Document Type: Research article

DOI: http://dx.doi.org/10.1080/10670560802576067

Publication date: 2009-03-01

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