Global Challenges and Opportunities. Jane Golley and Ligang Song (eds)

Transcription

1 Rising China Global Challenges and Opportunities Jane Golley and Ligang Song (eds) THE AUSTRAUAN NATIONAL UNIVERSITY E PRESS ' M' SOCIAL SCIENCES ACADEMIC PRESS(CHINA)

2 Contents Tables Figures Abbreviations Contributors Acknowledgments 1. China's Rise in a Changing World Jane Golley and Ligang Song 2. China's Turbulent Half-Decade Huw McKay 3. Reform of the International Economic System Yiping Huang, Weihua Dang and Jiao Wang VII XI XIII XVII XXI Why Does China Attempt to Internationalise the Renminbi? 45 Yin-Wong Cheung, Guonan Ma and Robert N. McCauley 5. The Technological Content of China's Exports and the Need for Quality Upgrading 69 Kunwang Li and Ligang Song 6. The Development of China's FDI Laws and Policies after WTO Accession 85 Chunlai Chen 7. Chinese Manufacturing Firms' Overseas Direct Investment 99 Bijun Wang and Huiyao Wang 8. China's Petroleum Predicament 121 Andrew B. Kennedy 9. Promoting Global Carbon Equity and Low-Carbon Growth 137 Yongsheng Zhang 10. Chinese-US Economic Relations After the Global Financial Crisis 149 Geoffrey Garrett 11. The Importance of Being Earnest in Defusing US-China Trade Tensions 173 Wing Thye Woo V

3 Rising China: Global Challenges and Opportunities 12. Australia-China Economic Relation; Christopher Findlay 13. Chinese Development Aid in Africa Deborah Brautigam 14. Clash of the Titans Peter E. Robertson The Effects of Institutions on Migrant Wages in China and Indonesia 245 Paul Frijters, Xin Meng and Budy Resosudarmo 16. China's Demographic Challenges from a Global Perspective 285 Zhongwei Zhao 17. Population Ageing, Domestic Consumption and Future Economic Growth in China 301 Yang Du and Meiyan Wang 18. The Route of Urbanisation in China from an International Perspective 315 Xiaolu Wang Index 329

4 Tables 4.1 Bilateral currency swap agreements with the People's Bank of China RMB-denominated bonds issued in Hong Kong Panda bonds issued in China Some recent estimates of the degree of RMB misalignment Changing structure of exports by levels of technology: China and the world, (per cent) China's pattern of trade by stage of production, (per cent) Structure of China's manufactured exports by product, (per cent) Structure of China's manufactured exports excluding processing trade, (per cent) Structure of manufactured exports by quality for selected countries, 2007 (per cent) Structure of China's manufactured exports by quality, (per cent) US anti-dumping Claims against its most frequently investigated trading partners Industry distribution of ODI flows, (per cent) Selected destinations of Chinese manufacturing ODI, The world's and China's top-10 brands, Motivations of Chinese manufacturing firms' ODI Major Chinese manufacturing firms' overseas M&As, Aggregate global carbon dioxide emission budget during with different probabilities of temperature rise exceeding 2 C Balance of carbon budget account in 2006 with 50 per cent probability of temperature rise exceeding 2 C (Mt C02): direct measure Balance of carbon budget account in 2006 with 50 per cent probability of temperature rise exceeding 2 C (Mt C02): indirect measure US and Japanese trade balance during the period of yen appreciation 174

5 Rising China: Global Challenges and Opportunities 12.1 Foreign Investment flows from China to Australia, <A$ million) Chinese Investment in Australia by industry, as approved by the Foreign Investment Review Board, (A$ million) Permanent additions to Australien population of China-born, Temporary arrivals from China and in total, Stock of Chinese and international students in Australia, (as of 31 March) Announcements of aid by Chinese leaders a Summary statistics for rural sample with migrants and non-migrants: China 15.1b Summary statistics for rural sample with migrants and non-migrants: Indonesia a Summary statistics for urban incumbents and urban migrant samples: China b Summary statistics for urban incumbents and urban migrant samples: Indonesia a Marginal effect from migration selection equation: China b Marginal effect from migration selection equation: Indonesia c Marginal effect from recent migration selection equation: Indonesia d Marginal effect from lifetime migration selection equation: Indonesia a Results from the earnings equations (without occupation) b Results from the hourly earnings equations (without occupation) c Results from the total monthly earnings equations (without occupation) a Results from earnings equations with occupation and school quality controls (China) b Results from hourly earnings equations with occupational controls (Indonesia) c Results from total monthly earnings equations with occupational controls (Indonesia) The features of demographic transition in selected economies Income comparison by education group: retired versus working Composition of household consumption in urban China (per cent) 308 ^50 viii

6 Tables 17.4 Descriptive statistics on income and expenditure Simultaneous quantile regression results Per capita land use in different sized eitles and towns Determinants of the concentration ratio: regression results Predicted future concentration ratlos in China 323