Can China's Miraculous Economic Growth Continue?

Rasiah, Rajah; Zhang, Miao; Xin, Kong

doi:10.1080/00472336.2012.740940

Cited by 15 publications

(10 citation statements)

References 36 publications

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“…Gani and Clemes (2010) argue that the growth of the services sector is hypothesized to be influenced by the growth of real output in the manufacturing sector, the growth in services exports and imports, and government spending. However, several researchers stress that in China's case, its GDP growth has strongly relied on the growth of its manufacturing sector (Patten 2010;Lin 2011;Rajah, Zhang, and Kong 2012). The close relationship between the manufacturing sector and GDP growth in China may impact on the regression analysis from the double estimation of these two variables.…”

Section: Model Specificationmentioning

confidence: 96%

Services and economic growth in China: an empirical analysis

Clemes

2016

Journal of the Asia Pacific Economy

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This is the first study that empirically investigates the contribution that an expansion in China's emerging services sector may make to China's per capita economic growth. In addition, the study examines the spillover effects of growth in China's services sector on growth in the manufacturing sector and vice versa. The framework consists of a single structural growth equation and a simultaneous equation to measure the spillover effects. Multiple regression analysis is used to analyse data from 1994 to 2011. The empirical results indicate that an increase in exports and government spending will positively affect value-added in the services sector. The findings also indicate that the services sector has a positive influence on the growth of per capita GDP. Finally, as published studies on the contribution of the services sector to China's per capita growth are sparse, the study presents policy implications.

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Section: Model Specificationmentioning

confidence: 96%

Services and economic growth in China: an empirical analysis

Clemes

2016

Journal of the Asia Pacific Economy

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“…Whereas export shares have continued to rise to reach 94%, import shares fell to 56% in 2012. A combination of rising fuel imports and stronger domestic manufacturing production capabilities accounted for a fall in the share of manufactured imports in total imports (Rasiah, Miao, and Xin, 2013).…”

Section: Inward Foreign Direct Investmentmentioning

confidence: 99%

“…On the one hand, some accept the reality over the surge in industrialization and Chinese exports as an example of a successful development model in which the state has allowed market forces to operate within those social boundaries (e.g. Rasiah, Miao, and Xin, 2013). On the other hand, critics claim that Chinese data is fudged, and that the rapid growth is unsustainable owing to growing fuel deficits and environment disasters.…”

Section: Introductionmentioning

confidence: 99%

“…Trade and investment flows brought China closer to the global economy. From specialization in light manufactured exports, China has undergone considerable structural change to participate in heavy and knowledge-intensive manufactured goods (Rasiah, Miao, and Xin, 2013). However, some economists have questioned China's rapid growth by either claiming that official statistics are not reliable or that it has largely been propelled by agriculture, land use and labour-intensive industries (Young 2003).…”

Section: Introductionmentioning

confidence: 99%

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Globalization, industrialization and labour markets in China

Zhang

Rasiah

2014

Journal of the Asia Pacific Economy

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China's experience with globalization is still contested. This paper seeks to examine the impact of global integration and industrialization on labour markets in China. The evidence shows that rising trade and flows of foreign direct investment has not only quickened industrialization and structural change but it has also stimulated a rapid rise in overall and manufacturing real wages. The government's framework of absorbing marketization while maintaining planning control through decentralization has been critical in the development of technological capabilities in manufacturing. Although the nature of economic development after reforms has also widened regional inequalities with the Eastern coastal provinces enjoying higher growth and structural change than the Western and other inland provinces, rising wages suggest that the material conditions of the majority of workers in China have improved. Globalization, industrialization and labour markets in China Miao Zhang University of Malaya, Malaysia Rajah Rasiah University of Malaya, Malaysia Sarosh Kuruvilla Cornell UniversityChina's experience with globalization is still contested. This paper seeks to examine the impact of global integration and industrialization on labour markets in China. The evidence shows that rising trade and flows of foreign direct investment has not only quickened industrialization and structural change but it has also stimulated a rapid rise in overall and manufacturing real wages. The government's framework of absorbing marketization while maintaining planning control through decentralization has been critical in the development of technological capabilities in manufacturing. Although the nature of economic development after reforms has also widened regional inequalities with the Eastern coastal provinces enjoying higher growth and structural change than the Western and other inland provinces, rising wages suggest that the material conditions of the majority of workers in China have improved.

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“…China's miracle benefited from its active participations in the globalization and more specifically from its increasing exports and governments investments (Lin, et al 2003, Lin 2012, Rasiah, et al 2013). The fast service industry development in China shows that the economic growth leads to the shifts of resources among three industries.…”

Section: Economic Growth Theorymentioning

confidence: 99%

International Comparisons of the Service Industry— What Can China Learn from Other Countries?

Chen¹

2016

JAEF

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Abstract. This paper focuses on analyses of the service industry in different countries over the years. Through this comprehensive study and international comparisons, developing countries like China can learn from others and better develop its service industry. When an economy advances, its service industry will be increasingly important in terms of shares of GDPs and employment. But fast-shrinking of the manufacturing industry and rapid expansion of the service industry may cause serious problems such as being weightless, lowering productivity and suffering from the mid-income trap. To sustain its economic growth, China needs to better expand and develop its service industry, particularly improve and develop social, professional and manufacturing/production services and improve and increase its service export.

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Can China's Miraculous Economic Growth Continue?

Cited by 15 publications

References 36 publications

Services and economic growth in China: an empirical analysis

Services and economic growth in China: an empirical analysis

Globalization, industrialization and labour markets in China

International Comparisons of the Service Industry— What Can China Learn from Other Countries?

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