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Trade Liberalization and Its Role in Chinese Economic Growth

  • Nicholas R. Lardy
Chapter
Part of the Procyclicality of Financial Systems in Asia book series (IMF)

Abstract

In terms of their participation in the international economy it would be difficult to envision two more contrasting cases than China and India. Whether the base line is the time of independence for India (1947) or the founding of the People’s Republic of China (1949), the beginning of Chinese economic reforms in the late 1970s or the initiation of Indian economic reforms in 1991, China’s trade performance has been distinctly superior. Even after a decade of economic reform, India’s share of global trade in 2000 was only 0.7 percent, two-thirds less than in 1948.2 By contrast, as shown in Table 7.1, China’s share of global trade by 2002 more than tripled in the past half century and is currently six times that of India.3 Most of the increase in China’s share of global trade has occurred in the 25 years since reform and opening began in 1978.

Keywords

Gross Domestic Product World Trade Organization Foreign Trade Trade Liberalization Foreign Affiliate 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© International Monetary Fund 2005

Authors and Affiliations

  • Nicholas R. Lardy

There are no affiliations available

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