Asia’s supply chain: Implications for rebalancing

Olaf Unteroberdoerster, Jade Vichyanond, Adil Mohommad 12 June 2011

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Persistent global imbalances are raising concerns about the sustainability of the global recovery and longer-term growth. Global imbalances owe in part to the pattern of exchange rates and demand across major countries. A proper appreciation of the influence of exchange rates and demand on global imbalances requires that we take into account an important feature of Asia’s trade – cross-border supply chains or “vertical integration”.

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Topics:  International trade

Tags:  global imbalances, China, Asia, vertical integration, supply chain

The elephant in the "green room": China and the Doha Round

Aaditya Mattoo, Francis Ng, Arvind Subramanian 21 May 2011

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The puzzle about the Doha Round of multilateral trade negotiations is not why it is on life support now but how it has survived as a viable multilateral initiative for so long (Schwab 2011). From the very beginning, it was clear that the Round suffered from a lack of private-sector interest, the engine that had driven previous rounds of successful trade negotiations. At most, Doha promised to secure unilateral liberalisation previously undertaken by countries and deliver some modest incremental market opening (Martin and Mattoo 2009).

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Topics:  International trade

Tags:  China, Doha Round

Geography and offshoring to China

Alyson C Ma, Ari Van Assche 18 May 2011

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Anecdotal evidence is rife with tales of multinational firms that have offshored their production to China, stoking fears that it is leading to a hollowing-out of manufacturing around the world. Many private sector analysts and policymakers attribute this offshoring wave to Chinese home-grown factors such as its low labour costs, stable political system, aggressive export promotion policies, and undervalued exchange rate.

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Topics:  International trade

Tags:  China, offshoring

Why are reserves so big?

Uri Dadush, Bennett Stancil 09 May 2011

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Foreign-exchange reserves play a crucial role in macroeconomic management. They provide a safety net during times of economic turmoil and, for most developing countries, a means to peg the nominal exchange rate. They also provide a means to manage windfalls from commodity exports or from sudden surges of capital.

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Topics:  Global governance

Tags:  US, global imbalances, China, Japan, exchange-rate policy

What to do about Doha

Anne Krueger 28 April 2011

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In an ideal world, the Doha Round would have been completed by now.

Since it has not been, the best outcome now would be to have a strong agreement that could quickly be negotiated, especially enhancing the agreements on the liberalisation of services and agriculture.

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Topics:  International trade

Tags:  US, China, Doha Round, India, global governance, Brazil

Asia Pacific and the Doha Round

Muhammad Chatib Basri 28 April 2011

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Of many benefits of the Doha Round for the Asia Pacific economies, one is fostering their reform process and taking advantage of new market access.

Asia Pacific economies (many of them classified as emerging economies) have an enormous stake in the Doha Round.

The trade interests of the Asia Pacific region, mapped back into the Doha Round, show that the region has much to gain from fully and effectively participating in multilateral negotiations.

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Topics:  International trade

Tags:  China, Doha Round, Asia, Indonesia, Pacific

Doha Round: Or else what?

Philip Levy 28 April 2011

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The state of the current round of global trade talks is indisputably dire. It is never a good sign when analysts are quibbling over whether Doha is dead or simply comatose. Despite plaintive, increasingly desperate cries from Geneva, leaders of the G20 countries have shown little inclination to follow through on their repeated commitments to conclude the talks.

The absence of US leadership is critical

There is plenty of blame to go around, but the absence of American leadership has been particularly striking.

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Topics:  International trade

Tags:  US, China, Doha Round, India, G20, Brazil

Why Doha Round matters to Asia and the Pacific

Peter Drysdale 07 May 2011

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Editor's Note: This column first appeared in last week's VoxEU eBook Why World Leaders Must Resist the False Promise of a Doha Delay.

So what's the problem? Does it matter if the WTO’s Doha Round is prematurely pronounced dead?

For Asia and the Pacific, it matters, seriously.

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Topics:  International trade

Tags:  China, Doha Round, Asia, Pacifica

How the iPhone widens the US trade deficit with China

Yuqing Xing 10 April 2011

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At the centre of global imbalances is the bilateral trade imbalance between China and the US. Most attention to date has been focused on macro factors and China’s exchange-rate regime. Little attention, however, has been paid to the structural factors of economies and global production networks that have reversed conventional trade patterns, transformed the implications of trade statistics and weakened the effectiveness of exchange rates on trade balances.

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Topics:  Exchange rates International trade

Tags:  US, global imbalances, China, exchange-rate policy, iPhone

Have Chinese innovators (and banks) finally grown-up?

Aoife Hanley, Wan-Hsin Liu, Andrea Vaona 24 March 2011

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There is a wind of change in China. Chinese policymakers have become more ambitious. They are now aspiring for innovation leadership status (OECD 2008; World Bank Report 2009). For this to happen, Chinese firms and universities are encouraged to work harder at developing their own R&D capability and to wean themselves off imported technologies. However, opinion is mixed about whether these ambitions for China’s research capability, i.e.

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Topics:  Productivity and Innovation

Tags:  China, innovation, foreign direct investment

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