Economic cooperation between China and Asian developing countries
Economic cooperation between China and Asian developing countries in the context of innovation Chengfeng Di Beijing Normal University P. R. China cfdi@bnu. edu. cn dichengfeng@gmail. com
Innovation as the core impetus of economic development The Era of Knowledge-base economy And Information economy
Innovation as the core impetus of economic development § Developed countries • Industrial revolution: Based on coordination and interaction of science, technology, culture, and entrepreneur • In 21 century Increase of R&D and education in face of economic crisis
Innovation as the core impetus of economic development § Newly industrializing economies • Economic miracle: Resulting partly from the strategic industrial policy aimed at achieving high levels of technological excellence and innovation capacity
Innovation as the core impetus of economic development § China • The Global Competitiveness Report 2009 -2010: China: Science infrastructure Basic infrastructure Technology infrastructure Rank of int’l competitiveness front upper-middle
Innovation as the core impetus of economic development § China • New development strategy: To change the economic growth model from resource-depletion growth to innovation-driving growth.
Economic cooperation between China and Asian developing countries China-ASEAN
Total trade of China-ASEAN
Change in trade structure § Before 1990 s • Agricultural and light industrial products • Raw material products § After 1990 s • Mechanical and electrical products • High-tech products § Change from inter-industrial to intraindustrial trade
Two-way Investment Accumulated investments as of 2008 US$ 6. 1 billion CHINA ASEAN US$ 5. 6 billion
Benefits of China-ASEAN economic cooperation to ASEAN nations § Diverse opportunities • China has a large market with demands at different levels, which would make it easier for a variety of countries at different levels to seek economic cooperation with China.
Benefits of China-ASEAN economic cooperation to ASEAN nations § Enlarged Market Size • Benefits from economies of scale and of agglomeration • Breaking limitations of small, impoverished country in changes of technology and in promotion of national innovation capabilities • Dynamic economies of scale by learning-bydoing and technological upgrading
Benefits of China-ASEAN economic cooperation to ASEAN nations § Co-op in education and technology would be helpful in promoting national innovation capability
Conclusion § Growth of China’s economy and China’s cooperation with Asian developing nations will benefit partners. § Cooperation in knowledge-based fields between China and Asian developing nations should be enhanced in innovationdriven era.
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