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1 – 10 of over 7000Yui-Yip Lau, Man-Hin Chan and Hong-Oanh Nguyen
This paper employs the gravity model to investigate how the growth of China’s textile and clothing (T&C) exports is displacing the exports of other Asian developing countries over…
Abstract
This paper employs the gravity model to investigate how the growth of China’s textile and clothing (T&C) exports is displacing the exports of other Asian developing countries over the 1990-2015 period. Aggregate analyses were undertaken, and the endogeneity of Chinese exports were accounted by applying instrumental variables with country fixed effects. It was found that there was a negative impact of China’s emergence on T&C exports on other Asian developing countries. We further explored whether such displacement effect varies across Asian countries and the results showed that a more pronounced effect was found in low-income countries than high-income ones. Our findings suggest that the export competitiveness of China’s neighbors, i.e. both more and less developed Asian countries, are affected by the emergence of China in T&C Trade. The implications of China’s One Belt, One Road initiative are also discussed.
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Lijuan Cao, Tianxiang Li, Rongbo Wang and Jing Zhu
The outbreak of the novel COVID-19 virus has spread throughout the world, causing unprecedented disruption to not only China's agricultural trade but also the world's agricultural…
Abstract
Purpose
The outbreak of the novel COVID-19 virus has spread throughout the world, causing unprecedented disruption to not only China's agricultural trade but also the world's agricultural trade at large. This paper attempts to provide a preliminary analysis of the impact of the COVID-19 pandemic on China's agricultural importing and exporting from both short- and long-term perspectives.
Design/methodology/approach
This study seeks to analyze how the outbreak of COVID-19 could potentially impact China's agricultural trade. With respect to exports, the authors have pinpointed major disruptive factors arising from the pandemic which have affected China's agricultural exports in both the short and long term; in doing so, we employ scenario analysis which simulates potential long-term effects. With regard to imports, possible impacts of the pandemic regarding the prospects of food availability in the world market are investigated. Using scenario analysis, the authors estimate the potential change in China's food market—especially meat import growth—in light of the implementation of the newly signed Sino-US Economic and Trade Agreement (SUETA).
Findings
The results show that China's agricultural exports have been negatively impacted in the short-term, mostly due to the disruption of the supply chain. In the long term, dampened external demand and potential imposition of non-tariff trade barriers (NTBs) will exert more profound and lasting negative effects on China's agricultural export trade. On the other hand, despite panic buying and embargoing policies from some exporting and importing countries, the world food availability and China's food import demand are still optimistic. The simulation results indicate that China's import of pork products, in light of COVID-19 and the implementation of SUETA, would most likely see a sizable climb in quantity, but a lesser climb in terms of value.
Originality/value
Agricultural trade in China has been a focal-point of attention in recent years, with new challenges slowing exports and increasing dependence on imports for food security. The outbreak of the COVID-19 pandemic adds significant uncertainty to agricultural trade, giving rise to serious concerns regarding its potential impact. By exploring the impact of the unprecedented pandemic on China's agricultural trade, this study should contribute to a better understanding of the still-evolving pandemic and shed light on pertinent policy implications.
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The purpose of this paper is to examine patterns of recent changes in China's international export trade in vegetable products between 2001 and 2005 following China's membership…
Abstract
Purpose
The purpose of this paper is to examine patterns of recent changes in China's international export trade in vegetable products between 2001 and 2005 following China's membership of the World Trade Organisation (WTO) and to measure consequent changes in its export competitiveness. It also aims to consider infrastructural issues in relation to supply chain and food safety issues which may affect China's future potential export growth in vegetables.
Design/methodology/approach
The comparative advantage of China's vegetable sector is measured through an export specialisation index. A trade‐shares accounting framework is used to identify the sources of change in China's aggregate market shares. An import demand function for China's vegetable exports is estimated.
Findings
The paper finds that China has a comparative advantage in vegetable production and exporting. Although there have been negative structural changes in vegetable imports in many of China's major overseas markets, particularly East Asia, China's export share of those markets and its overall world market share has increased since WTO membership. China's export growth rate has exceeded the global average for most vegetable categories. Penetration of SE Asian markets has been price driven, but there is little evidence that China's WTO membership has enabled greater penetration into EU markets for its vegetable exports.
Originality/value
There have been many studies of the potential impact of China's WTO membership on world trade in agri‐food products, but none examining its actual impact in the labour intensive vegetable sector. Although the methodologies applied are well established, their empirical application in the context of China's vegetable export sector in this article are original, and present a context against which to view China's future vegetable export prospects.
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The purpose of this paper is to examine patterns of recent change in China's international export trade in high quality fresh‐vegetables between 2002 and 2005 since its WTO…
Abstract
Purpose
The purpose of this paper is to examine patterns of recent change in China's international export trade in high quality fresh‐vegetables between 2002 and 2005 since its WTO membership and some of the underlying determinants that will determine its future export opportunities.
Design/methodology/approach
A trade‐shares accounting and decomposition approach is adopted which enables the sources of change in China's aggregate export market shares be identified in terms of both structural effects (SEs) through the share‐shifts in world trade of its major trading partners and performance effects (PEs) of changes in China's penetration of individual markets.
Findings
China's underlying comparative advantage in labour‐intensive products such as fresh vegetables is reflected in the positive PE of its increase in share of world trade since WTO membership. There has been an emerging re‐orientation in its trade shares from E Asia to SE Asia, and to further penetration into the Russian Federation and US markets, but little overall evidence of significant enhanced penetration of developed country markets.
Research limitations/implications
The methodology, whilst identifying the predominant sources of dynamic changes in trade shares, does not explain or model the causes of such developments. However, as such it is useful in focussing attention on where significant changes have taken place and hence where further research into modelling such bi‐lateral or multilateral trade flows would be fruitful. Originality/value – Hitherto competitiveness studies have tended to focus either on aggregate trade flows, or at the broad sectoral level such as agriculture. Those in relation to China have also tended to be of a predictive nature in assessing the potential WTO impact on China's trade and agriculture. This study addresses China's actual trade performance at the product category and individual product level, and examines the strategic implications for China's fresh produce export sector. It also assesses whether the initial expectations of positive gains in exporting fresh vegetables have been realised thus far, and what adjustments in China's global trading patterns have emerged in this sector.
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Jing Shuai, Fubin Huang, Zhihui Leng and Xin Cheng
This paper aims to estimate the international competitiveness of China’s biomass energy products during 2007-2016 in the context of the Belt and Road Initiative.
Abstract
Purpose
This paper aims to estimate the international competitiveness of China’s biomass energy products during 2007-2016 in the context of the Belt and Road Initiative.
Design/methodology/approach
In this paper, the authors used the constant market share model and the revealed comparative advantage index to analyze the evolution trend of China’s biomass products’ international competitiveness during the past decade from 2007 to 2016 based on the market structure of the Belt and Road Initiative.
Findings
The results show that: China’s major biomass energy products have no comparative advantages in the world market, nevertheless, their international competitiveness is on the rise; China’s biomass energy products have been agglomerated to the regional markets where the market demand growth is fast in the Belt and Road countries; and the unreasonable structure is an important factor influencing the international competitiveness of China’s biomass exports.
Originality/value
The authors analyzed the international competitiveness of China’s biomass energy products based on the “Belt and Road Initiative” with all the trading items, in an effort to propose policy implications for enhancing the comparative advantages of China’s biomass products in the international market especially in the Belt and Road regions.
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Ruonan Liu, Yuhui Yue, Dongling Miao and Baodong Cheng
This article will select 25 years of subdivided data to perform Kaplan–Meier survival analysis on the export trade relations of Chinese wooden flooring, use discrete-time cloglog…
Abstract
Purpose
This article will select 25 years of subdivided data to perform Kaplan–Meier survival analysis on the export trade relations of Chinese wooden flooring, use discrete-time cloglog models to analyze influencing factors, use logit and probit models to test the robustness, and try to systematically reveal the duration of China's wood flooring export trade and its influencing factors.
Design/methodology/approach
This study used Kaplan–Meier survival function estimation method. In the survival analysis, survival function and hazard rate function are often used to characterize the distribution of survival time.
Findings
The continuous average export time of China's wooden flooring is relatively long, about 14 years. China's wooden flooring has a negative time dependency. After the export trade exceeds the threshold value of 15 years, the failure rate of trade greatly decreases, which has a “threshold effect.” Gravity model variables have a significant impact on the duration of China's wooden floor export.
Originality/value
Studying the duration of forest products trade is of great significance for clearing deep-level trade relations and promoting sustainable development of forest products trade.
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Hua Wang and Junjun Zhu
– The purpose of this paper is to analyze the influence of different forms of RMB foreign exchange rates on Chinese foreign trade.
Abstract
Purpose
The purpose of this paper is to analyze the influence of different forms of RMB foreign exchange rates on Chinese foreign trade.
Design/methodology/approach
This paper constructed spatial panel model and Markov Chain Monte Carlo estimation method and collected the data of 25 countries’ (including China) quarterly macroeconomic data from first quarter of 1993 until third quarter of 2013 to conduct the data analysis.
Findings
This paper finds that USD/CNY, which is widely used in trade settlement, is more significant in effecting Chinese export. Totally, 1 percent appreciation of CNY against USD will lead to 1.532 percent decline of Chinese export, while 1 percent appreciation of CNY NEER only 0.42 percent. What is more, 1 percent increases of the volatility of USD/CNY results in 0.579 percent decline of Chinese export. As policy suggestions, we should further reform the foreign exchange derivative market in China, and provide more currency derivatives, so that the ability of Chinese economy to deal with foreign exchange risk could be improved.
Research limitations/implications
Effect of exchange rate on imports and exports relates to the future direction of China’s exchange rate policy. This paper claims that China should accelerate the construction of foreign exchange derivatives market, improving the ability to respond quickly to foreign currency risk.
Practical implications
First, denominated exchange rate has more significant impact on the Chinese export trade to other countries than effective exchange rate. Second, the RMB exchange rate fluctuations also significantly affect the export trade. Third, China’s import and export trade have significant spatial effect.
Social implications
This paper recommends the construction of the RMB currency futures market as soon as possible, providing a richer foreign exchange derivatives and other risk hedging instruments, thus to enhance the ability to respond to exchange rate risks.
Originality/value
This paper uses spatial panel model with the refined data to study various factors on the import and export trade, and thus more comprehensive analysis on the impact of the exchange rate on the import and export trade with other major countries.
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The purpose of this paper is to explain the reasons and development trend of the new round of restructuring of regional division of labor in East Asia after the global financial…
Abstract
Purpose
The purpose of this paper is to explain the reasons and development trend of the new round of restructuring of regional division of labor in East Asia after the global financial crisis and the role of China in the process.
Design/methodology/approach
The paper probes into four factors leading to the adjustment of regional division of labor in East Asia before analyzing its development trend trough comparing the change of roles of China and ASEAN in the process.
Findings
After the flying-geese division and regional production network, East Asia’s regional division of labor is getting a new round of structural adjustment. The analysis of this paper shows that this adjustment is mainly due to global financial crisis, post-crisis de-globalization, the rebalancing of East Asian economies and China’s economic transformation. From the adjustment direction, the main trend is ASEAN gradually replacing China to become the new assembly plant area, while China becomes a new manufacturing power by its rising status in the global value chain.
Originality/value
The paper describes the development trend of the new round of restructuring of regional division of labor in East Asia in the future and gives the policy implications for the East Asian countries.
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As China′s economic reform continues, foreign trade with China hasexpanded rapidly in the past several years. During this period, exportadvertising has played an increasingly…
Abstract
As China′s economic reform continues, foreign trade with China has expanded rapidly in the past several years. During this period, export advertising has played an increasingly important role in promoting the export of Chinese products and services. Since export advertising as a marketing tool in China′s foreign trade is still in its formative stage, evaluates its past development and examines its prospects in the future. Argues that, although Chinese export advertising has developed rapidly in the past decade, foreign participation in China′s advertising is very limited. However, the tremendous market potential in China means that Western businesses need to be part of China′s economic long march. To this end, pinpoints for Western businesses some managerial implications arising from the discussion of China′s export advertising.
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