The Rise of China Alan V Deardorff For
- Slides: 36
The Rise of China Alan V. Deardorff For panel hosted by Michigan Journal of International Affairs March 22, 2017 www. fordschool. umich. edu
Some Data on China • China’s Economy • China’s International Initiatives • China’s Rankings www. fordschool. umich. edu Econ 340, Deardorff, Lecture 18: PTAs 2
China’s Economy • GDP – Is about 2/3 of US GDP in dollars • Expected to surpass US in less than 10 years www. fordschool. umich. edu 3
www. fordschool. umich. edu 4
China’s Economy • GDP – Is about 2/3 of US GDP in dollars • Expected to surpass US in less than 10 years – In real terms (PPP) • China: $21. 27 trillion (2016 est, per CIA) • US: $18. 56 trillion (2015 est, per CIA) – In real terms (Big Macs, per Economist) • China: 3. 9 trillion burgers • US: ~3. 7 trillion burgers www. fordschool. umich. edu 5
China’s Economy • GDP per capita (at nominal exchange rates) – Still less than ½ the OECD average – About ¼ the US – But has grown dramatically since 1980 www. fordschool. umich. edu 6
Luxembourg Ireland Norway Switzerland United States OECD China www. fordschool. umich. edu 7
China’s Economy • Other China data – Spending on R&D – Military Expenditure – Trade – Exchange rate – International reserves www. fordschool. umich. edu 8
R&D OECD China www. fordschool. umich. edu 9
Military Expenditure 2015 Stockholm International Peace Research Institute (via Wikipedia) www. fordschool. umich. edu 10
China's Military Expenditure constant 2014 US$, trillions 250. 0 200. 0 150. 0 100. 0 50. 0 Stockholm International Peace Research Institute www. fordschool. umich. edu 2015 2013 2011 2009 2007 2005 2003 2001 1999 1997 1995 1993 1991 1989 0. 0 11
Who Trades the Most? ($ b. & % share, 2015) Exporters Importers Value China US Germany Japan Netherlands World Share 2275 13. 8 1505 9. 1 1329 8. 1 625 3. 8 567 3. 4 16, 482 100. 0 Value US China Germany Japan UK World 2308 1682 1050 648 626 16, 725 Share 13. 8 10. 1 6. 3 3. 9 3. 7 100. 0 Source: WTO, World Trade Statistical Review, 2016, Table A 6 www. fordschool. umich. edu Lecture 1: Overview 12
Who Trades the Most? + = 3813 (Excluding intra-EU-28) + = 3957 ($ b. & % share, 2015) Exporters Importers Value China EU-28* US Japan Korea, S. World *EU external only Share 2275 17. 4 1985 15. 2 1505 11. 5 625 4. 8 527 4. 0 13, 080 100. 0 Value US EU-28* China Japan Hng Kng World 17. 3 14. 4 12. 6 4. 9 4. 2 100. 0 + = 3899 Source: WTO, World Trade Statistical Review, 2016, Table A 7 Lecture 1: Overview www. fordschool. umich. edu 2308 1914 1682 648 559 13, 323 Share 13
China’s Exchange Rate, US$/Yuan, 2000 -2016 0. 180 0. 160 0. 140 0. 120 0. 100 0. 080 0. 060 0. 040 0. 020 0. 000 2000 Jan 2000 Sep 2001 May 2002 Jan 2002 Sep 2003 May 2004 Jan 2004 Sep 2005 May 2006 Jan 2006 Sep 2007 May 2008 Jan 2008 Sep 2009 May 2010 Jan 2010 Sep 2011 May 2012 Jan 2012 Sep 2013 May 2014 Jan 2014 Sep 2015 May 2016 Jan The yuan reached its peak in 2013, and began to fall in 2015 IMF: International Financial Statistics www. fordschool. umich. edu Econ 340, Deardorff, Lecture 14: Pegging 14
China's Reserves, $ trillions, 2000 -2016 4. 5 4 3. 5 3 2. 5 2 1. 5 1 0. 5 0 But lately they have fallen, even below $3 trillion 2000 Q 1 2000 Q 3 2001 Q 1 2001 Q 3 2002 Q 1 2002 Q 3 2003 Q 1 2003 Q 3 2004 Q 1 2004 Q 3 2005 Q 1 2005 Q 3 2006 Q 1 2006 Q 3 2007 Q 1 2007 Q 3 2008 Q 1 2008 Q 3 2009 Q 1 2009 Q 3 2010 Q 1 2010 Q 3 2011 Q 1 2011 Q 3 2012 Q 1 2012 Q 3 2013 Q 1 2013 Q 3 2014 Q 1 2014 Q 3 2015 Q 1 2015 Q 3 2016 Q 1 Reserves have mostly risen, to over $4 trillion, IMF: International Financial Statistics www. fordschool. umich. edu Econ 340, Deardorff, Lecture 14: Pegging 15
Some Data on China • China’s Economy • China’s International Initiatives • China’s Rankings www. fordschool. umich. edu Econ 340, Deardorff, Lecture 18: PTAs 16
China’s International Initiatives • RCEP – Regional Comprehensive Economic Partnership – Free Trade Agreement, being negotiated • 16 countries – ASEAN 10 – China, India, Japan, S. Korea, Australia, New Zealand www. fordschool. umich. edu 17
www. fordschool. umich. edu 18
China’s International Initiatives • One Belt, One Road – Initiative begun 2013 to expand infrastructure for international trade along: • Land route through Central Asia (One Belt) • Sea route through Southeast Asia and the Indian Ocean (One Road) • To Europe www. fordschool. umich. edu 19
www. fordschool. umich. edu 20
China’s International Initiatives • Asian Infrastructure Investment Bank – Development bank focused on “the development or infrastructure and other productive sectors in Asia” – Was able to attract 46 founding member countries – US tried to persuade others not to join but failed www. fordschool. umich. edu 21
www. fordschool. umich. edu 22
China’s International Initiatives • Taking the lead on Globalization – President Xi stressed the virtues of free trade at Davos www. fordschool. umich. edu 23
www. fordschool. umich. edu 24
Some Data on China • China’s Economy • China’s International Initiatives • China’s Rankings www. fordschool. umich. edu Econ 340, Deardorff, Lecture 18: PTAs 25
China’s Rankings • Foreign Direct Investment – Outward: #11 – Inward: #5 – (US is #2 in both, after EU) www. fordschool. umich. edu 26
China's Shares of World FDI 0. 14 0. 12 0. 10 0. 08 Inflows 0. 06 Outflows 0. 04 0. 02 12 20 10 20 08 20 06 20 04 20 02 20 00 20 98 19 96 19 94 19 92 19 19 90 0. 00 • Source: UNCTAD World Investment Report 2013 www. fordschool. umich. edu Econ 340, Deardorff, Lecture 11: FDI 27
China’s Rankings • Soft Power – #28 out of 30 • Below Russia • Above Czech Republic • (Top 5 are US, UK, Germany, Canada, France) Source: Portland www. fordschool. umich. edu 28
China’s Rankings • Press Freedom – #176 out of 180 • Below Vietnam • Above Syria – (Top 5 are Finland, Netherlands, Norway, Denmark, New Zealand) – (US is 41) www. fordschool. umich. edu 29
China’s Rankings • Corruption Perceptions Index – #100 out of 175 • Below Egypt an others • Tied with Algeria Suriname • Above Mexico and others – (Top 5 are Denmark, New Zealand, Finland, Sweden, and Norway) – (US is #17) www. fordschool. umich. edu 30
China’s Rankings • Human Development Index – #90 out of 187 • Below Saint Lucia • Tied with Mongolia and others • Above Thailand – (Top 5 are Norway, Australia, Switzerland, Denmark, and Netherlands) – (US is #8) www. fordschool. umich. edu 31
China’s Rankings • Ease of Doing Business – #78 out of 189 • Below Tunisia • Above Ukraine – (Top 5 are New Zealand, Singapore, Denmark, Hong Kong, S. Korea) – (US is #8) www. fordschool. umich. edu 32
China’s Rankings • Best Countries – #20 out of 80 • Below Spain • Above Ireland – (Top 5 are Switzerland, Canada, U. K. , Germany, Japan) – (US is #7) www. fordschool. umich. edu 33
China’s Rankings • Global Competitiveness – #28 out of 140 • Below Israel • Above Iceland – (Top 5 are Switzerland, Singapore, U. S. , Germany, Netherlands) – (US is #3) www. fordschool. umich. edu 34
China’s Rankings • Sovereign Wealth Funds by Assets – #100 China Investment Corporation - $814 b. – #6 SAFE Investment Company - $474 b. – #7 Hong Kong Monetary Authority Investment Portfolio - $457 b. – #10 National Social Security Fund - $295 b. – (All others in top 10 except Singapore, #8, originate from oil. ) – (#1 is Norway $871 b. ) Source: SWFI www. fordschool. umich. edu 35
Summary • China has – Surpassed the US, or soon will, in size – A long way to go to match US in wellbeing – Growing influence on the world stage www. fordschool. umich. edu Econ 340, Deardorff, Lecture 18: PTAs 36
- Elizabeth deardorff
- Duane deardorff
- Deardorff model
- A union b example
- Sheep become lions
- Tricky dicky richard nixon
- Rise again and again until lambs
- Antikt plagg
- Datorkunskap för nybörjare
- Steg för steg rita
- Ministerstyre för och nackdelar
- Sju principer för tillitsbaserad styrning
- Kanaans land
- Tack för att ni lyssnade bild
- Claes martinsson
- Bunden poesi
- Nyckelkompetenser för livslångt lärande
- Sju för caesar
- Mästare lärling modell
- Borstål, egenskaper
- Orubbliga rättigheter
- Jätte råtta
- Underlag för särskild löneskatt på pensionskostnader
- Verktyg för automatisering av utbetalningar
- Texter för hinduer tantra
- Jag har nigit för nymånens skära text
- Kolopskopi
- Boverket ka
- Strategi för svensk viltförvaltning
- Informationskartläggning
- Tack för att ni har lyssnat
- Centrum för kunskap och säkerhet
- Läkarutlåtande för livränta
- Treserva lathund
- Returpilarna
- Inköpsprocessen steg för steg
- Påbyggnader för flakfordon