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Download Employment Impact of China's World trade Organisation by A. S. Bhalla, Shufang Qiu PDF

By A. S. Bhalla, Shufang Qiu

The booklet explores the macroeconomic and sectoral employment implications (in agriculture, and providers) of China's global alternate employer accession. It argues that whereas short-run employment losses might take place, within the long run China should be capable of generate extra employment fairly within the tertiary sectors; and that it could actually preserve its comparative virtue in labour-intensive exports via moving creation from high-cost coastal components to the hinterland with ample offer of inexpensive labour.It additionally argues that, even if China is probably going to learn in the end, within the brief and medium time period China is probably going to stand huge, immense difficulties, together with elevated unemployment as weaker hyperlinks stop to be secure by means of price lists, and the matter of restructuring state-owned organisations.

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Additional info for Employment Impact of China's World trade Organisation (Routledgecurzon Studies on the Chinese Economy)

Example text

The above standard trade theory is based on several well-known but unrealistic assumptions, namely, uniform technology, undifferentiated products, factor price equalization and absence of economies of scale. These assumptions may render the theory less useful for analyzing actual trade patterns of countries. Does the traditional theory apply to Chinese exports? Are they based on the principle of natural comparative advantage? These are some of the questions discussed below. In agriculture, crop-specific shifts in trading suggest a movement towards comparative cost advantage.

81 II. Labour-intensive products Secondary goods Materials and finished manufactures (SITC 68) Source: Yue and Hua (2002). Estimates are based on data from Statistics Canada, China Customs Statistics (1998–2000), and UNCTAD International Trade Statistics Yearbook (1998). Note: The categories ‘resource-intensive’, ‘labour-intensive’, ‘capital-intensive’ and ‘technologyintensive’ are not watertight. They may overlap. For example, although machinery and equipment is generally capital-intensive, it may also include some labour-intensive items.

The problem is that in many consumer goods sectors production capacity is well in excess of market demand. Therefore, firms in these sectors are forced to reduce price in order to induce consumers to buy. As a result profits are 26 Trade, competition and employment squeezed and adequate resources are not available for R&D and product innovations. The second effect of domestic competition is that many firms are turning their attention to international markets for raising their exports. Accession will induce these domestic firms to expand exports and foreign firms to develop China as a global manufacturing base.

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