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N° 254 |
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| March 2006 |
| China: the Price of Competitiveness |
Guillaume Gaulier
Françoise Lemoine
Deniz Ünal |
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| China has become the world’s largest export production platform and is now the hub of an intensified regional segmentation of
production processes, as evidenced by the surge of intra-Asian trade in parts and components. However, Asian exports of final
goods still heavily depend on markets outside the region. Also, the unit values of China’s exports and imports show the limits its
price competitiveness. China is exporting standardized goods subject to stiff price competition and which incorporate more and
more sophisticated inputs. This trend, combined with the rise in world prices for primary products, is strongly deteriorating
China’s terms of trade. This is one of the adverse effects of an outward-oriented and extensive growth strategy that is now being
criticized openly even in China. |
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