Chinese Foreign Trade

The China Quarterly

Volumn 131, Issue , 1992, Pages 691-720

  Lardy, Nicholas R ^a  

^a NONE

Author keywords

[No Author keywords available]

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EID: 84933489492     PISSN: 03057410     EISSN: 14682648     Source Type: Journal    
DOI: 10.1017/S0305741000046336     Document Type: Article

References (76)

1. Anne O. Kreuger, Foreign Trade Regimes and Economic Development: Liberalization Attempts and Consequences (Cambridge, Mass.: Ballinger Publishing Company, 1978). World Bank, World Development Report 1987 (New York: Oxford University Press, 1987). Michael Michaely, Demetris Papageorgiou and Armeane M. Choksi, Liberalizing Foreign Trade: Lessons of Experience in the Developing World (Cambridge, Mass.: Basil Blackwell, 1991).
2. Tradeable goods are goods that are actually traded or goods that would be traded if it were profitable to do so.
3. Gershon Feder, “On exports and economic growth,” Journal of Development Economics, Nos. 1–2 (1983), pp. 59–73.
4. Sung Yun-wing estimates that value added constitutes 20% of the gross value of export receipts earned in processing activities. “Explaining China's export drive: the only success among command economies,” unpublished paper, 1990, p. 19.
5. GATT, International Trade 1989–90, Vol. I (Geneva: GATT, 1990), pp. 28–30.
6. Kenneth Lieberthal and Michel Oksenberg, Policy Making in China: Leaders, Structures, and Processes (Princeton, New Jersey: Princeton University Press, 1988), p. 262.
7. Nicholas R. Lardy, Foreign Trade and Economic Reform in China, 1978–1990 (Cambridge: Cambridge University Press, 1992), pp. 95–96.
8. Lieberthal and Oksenberg, Policy Making in China, p. 260.
9. Editorial Board of the Almanac of China's Foreign Economic Relations and Trade. Almanac of China's Foreign Economic Relations and Trade 1989 (English edition) (Hong Kong: China Resources Advertising Co. Ltd., 1989), p. 361.
10. The average price China received per ton fell 21% from $185 in 1985 to $146 in 1990. State Statistical Bureau, Zhongguo tongji zhaiyao 1991 (A Statistical Survey of China 1991) (Beijing: Statistical Publishing House, 1991), p. 99.
11. The change in the price of oil alone would have reduced the primary product share of exports to 47.8%, thus accounting for only one-tenth of the shrinkage of the share of primary product exports between 1985 and 1990. However, its influence was more significant in the short run. For example, the price per ton fell by 50% in 1986 to $92, contributing significantly to the sharp decline in the share of primary product exports in 1986 compared to the previous year. State Statistical Bureau, Zhongguo tongji zhaiyao 1987 (State Statistical Abstract 1987) (Beijing: Statistical Publishing House, 1987), p. 90.
12. Since the data in Table 4 are derived from Customs statistics in some sense they may overstate the rising share of manufactured goods in total exports. The Customs data on exports, as explained above, include the gross value of processed and assembled exports. These exports grew dramatically in the second half of the 1980s.
13. State Council National Industrial Census Leading Small Group Staff Office, Zhonghua renmin gongheguo 1985 nian gongye pucha ziliao (1985 Industrial Census of the People's Republic of China) (Beijing: Chinese Statistical Publishing House). The data used came from volume 3, pp. 90–121, 128–139, 204–235
14. published in March 1988. They cover all manufacturing establishments classified as independent accounting units regardless of the form of ownership. In 1988 these enterprises accounted for 85% of manufactured goods output. Thomas G. Rawski, “How fast has Chinese industry grown?‘' Research Paper Series No. 7, Socialist Economies Reform Unit, World Bank, March 1991, p. 2.
15. Similar findings-that China's trade specialization in the early 1980s was not based on comparative advantage but that by the late 1980s China was exploiting its comparative advantage more fully-have been reported by Zhang Xiaogang and Peter G. Warr, “China's trade patterns and comparative advantage,” in China: Trade and Reform (Canberra: Australian National University National Center for Development Studies, 1991), pp. 46–72.
16. Sun Wenxiu, “A review and forecast of the reforms of the foreign trade system,” Jihua jingji yanjiu (Planned Economy Research), No. 8 (1989), p. 53.
17. World Bank, China: External Trade and Capital (Washington, D.C.: The World Bank, 1988), pp. 102–103.
18. State Council, “Notice concerning the report of opinions on reforming the foreign trade system,” in Bank of China Staff Office, Yijiubasi nian waihui gongzuo zhongyao wenjian xuanbian (A Compilation of Important Documents in 1984 Foreign Exchange Work) (Beijing: Chinese Banking Publishing House, 1986), pp. 173–74.
19. Extracts of this document, which omit much important material, have been published in both Chinese and English. Editorial Board of the Almanac of China's Foreign Economic Relations and Trade, Almanac of China's Foreign Relations and Trade 1986 (Beijing: Ministry of Foreign Economic Relations and Trade Publishing House, 1986), pp. 29–32 and 388–392.
20. Stanley Lubman, “Investment and export contracts in the People's Republic of China,” Brigham Young University Law Review, No. 3 (1988), p. 557.
21. Reporter, “We must firmly grasp and carry out the work of rectifying the various kinds of foreign trade corporations,” Guoji shangbao (International Business), 21 March 1990, p. 1
22. The national work of rectifying foreign trade corporations is almost completed,” Guoji shangbao 1 September 1991, p. 1.
23. Sun Wenxiu, “A review and forecast of the reforms of the foreign trade system,” Jihua jingji yanjiu (Planned Economy Research), No. 8 (1989), pp. 53–54.
24. Working Party on China's Status as a Contracting Party, “China's foreign trade regime: note by the Secretariat,” (Geneva: General Agreement on Tariffs and Trade, 1988), p. 21.
25. Zhang Yuqing and Wang Hejun, “China's laws and regulations on foreign trade management,” Intertrade (March 1990), p. 7.
26. World Bank, China: Long-Term Issues and Options (Baltimore: The Johns Hopkins University Press, 1985), p. 17.
27. Contemporary China Series Editorial Board, Dangdai zhongguo de wujia (Contemporary China Commodity Prices) (Beijing: Social Sciences Publishing House, 1989), p. 226.
28. Chen Jiaqin, ‘”Marxist exchange rate theory and China's exchange rate policy,” Jingji lilun yu jingji guanli (Economic Theory and Economic Management), No. 6 (1989), p. 54.
29. State Bureau of Commodity Prices, Ministry of Foreign Economic Relations and Trade, and Ministry of Finance, “Notice on issues in the domestic price formation of centrally financed imports,” in State Bureau of Commodity Prices Foreign Price Office, Zhongguo shewai jiage fagui yu zhengce zhinan (A Handbook of China's Policy and Laws on Foreign Prices) (Hong Kong: Hong Kong Main Culture Company, Ltd., 1988), p. 117.
30. State Bureau of Commodity Prices, Zhongguo wujia nianjian 1990 (Chinese Commodity Price Yearbook 1990) (Beijing: Chinese Commodity Price Publishing House, 1990), pp. 343–344.
31. State Bureau of Commodity Prices Foreign Price Office, “Foreign prices,” in State Bureau of Commodity Prices, Zhongguo wujia nianjian (1989) (Chinese Commodity Price Yearbook 1989) (Beijing: Chinese Commodity Price Publishing House, 1989), p. 162.
32. Lardy, Foreign Trade and Economic Reform in China, 1978–1990, p. 163.
33. Regulations concerning price issues,” Jiage lilun yu shijian (Price Theory and Practice), No. 1 (1991), p. 64.
34. Yang Peixin, “Reform the foreign exchange system to stimulate foreign trade,” Shijie jingji daobao (World Economic Herald), 28 March 1988, p. 3.
35. Josef M. van Brabant, Exchange Rates in Eastern Europe: Types, Derivation and Application, World Bank Staff Working Papers No. 778 (Washington, D.C.: The World Bank, 1985), p. 5.
36. Y. Y. Kueh and Christopher Howe, “China's international trade: policy and organizational change and their place in the ‘economic readjustment',” The China Quarterly, No. 100 (December 1984), pp. 844–45.
37. Lardy, Foreign Trade and Economic Reform in China, 1978–1990, pp. 25–26.
38. Josef M. van Brabant, The Planned Economies and International Economic Organizations (Cambridge: Cambridge University Press, 1991), pp. 78, 93, 107.
39. Department of the Treasury, “Report to the Congress on international economic and exchange rate policy,” (Washington, D.C.: Department of the Treasury, May 1991), p. 24.
40. Lardy, Foreign Trade and Economic Reform in China, 1978–1990, p. 54.
41. Shi Mingshen, “Wo guo waihui xingshi haozhuan” (“China's foreign exchange situation changes for the better”), Renmin ribao, 23 January 1992, p. 2.
42. Xinhua, “Central bank increases export oriented loans,” Foreign Broadcast Information Service, China: Daily Report, 22 January 1990, p. 2.
43. Hu Fengying, “A brief account of China's new foreign trade system,” Shijie jingji yanjiu (World Economy Study), No. 3 (1991), p. 33.
44. Guangdong Statistical Bureau, Guangdong tongji nianjian 1991 (Statistical Yearbook of Guangdong 1991) (Beijing: Chinese Statistical Publishing House, 1991), p. 303.
45. State Statistical Bureau, Zhongguo tongji nianjian 1991 (Chinese Statistical Yearbook 1991) (Beijing: Statistical Publishing House, 1991), p. 97.
46. Xu Dezhi, “Guangdong foreign trade rises to all-time high,” China Daily Business Weekly, Spring Trade Fair supplement, 15 April 1992, p. 3.
47. Ezra F. Vogel, One Step Ahead in China: Guangdong under Reform (Cambridge, Mass.: Harvard University Press, 1989), pp. 372–384.
48. Ezra F. Vogel, One Step Ahead in China: Guangdong under Reform (Cambridge, Mass.: Harvard University Press, 1989), pp. 372–384. Lardy, Foreign Trade and Economic Reform in China 1978–1990, pp. 126–136, 168.
49. The gross value of industrial output in 1988 in Guangdong was 105.077 billion yuan, in 1980 prices. In Shanghai it was 108.270 billion yuan, also in 1980 prices. Guangdong Statistical Bureau, Guangdong tongji nianjian 1991 (Statistical Yearbook of Guangdong 1991) (Beijing: Chinese Statistical Publishing House, 1991), p. 53.
50. Shanghai Statistical Bureau, Shanghai tongji nianjian 1989 (Shanghai Statistical Yearbook 1989) (Beijing: Statistical Publishing House, 1989), p. 127.
51. Ezra F. Vogel, Canton under Communism: Programs and Politics in a Provincial Capital, 1949–1968 (Cambridge, Mass.: Harvard University Press, 1969), pp. 128–132.
52. Guangdong takes lead in economic reform,” China Daily, 14 February 1992, p. 4.
53. Li Hong, “Big firms to be forced into market mechanism,” China Daily, 28 February 1992, p. 1.
54. The value of output (measured in constant prices) in the textile and clothing industries fell 1% between 1985 and 1989 in Shanghai. Shanghai Statistical Bureau, Shanghai tongji nianjian 1990 (Shanghai Statistical Yearbook 1990) (Beijing: Chinese Statistical Publishing House, 1990), pp. 96–97.
55. The value of output (measured in constant prices) in the textile and clothing industries fell 1% between 1985 and 1989 in Shanghai. Shanghai Statistical Bureau, Shanghai tongji nianjian 1990 (Shanghai Statistical Yearbook 1990) (Beijing: Chinese Statistical Publishing House, 1990), pp. 96–97. By contrast the value of output of these industries nationally more than tripled from 22.1 billion yuan to 76.8 billion yuan between 1985 and 1989. State Statistical Bureau, Zhongguo tongji zhaiyao 1991 (A Statistical Survey of China 1991) (Beijing: State Statistical Publishing House, 1991), p. 66.
56. Liu Shujie, “A research report on the issue of dual track pricing of coal,” Zhongguo wujia (China Price), No. 1 (1991), p. 29.
57. Guangdong and Shanghai respectively paid 148.0 and 39.9 yuan per ton for state allocated coal and 252.0 and 210.0 yuan per ton for coal purchased on the market. Zhongguo wujia p. 30.
58. Among other local sources were bonds specifically issued by Guangzhou municipality to finance electric power projects. Christine I. Wallich, “Recent developments in China's financial sector: financial instruments and markets,” in James A. Dorn and Wang Xi (eds.), Economic Reform in China: Problems and Prospects (Chicago: University of Chicago Press, 1989), pp. 140–41.
59. Guangdong's annual electric power outpur rose from 16.7 billion kilowatt hours in 1985 to 34.4 billion kilowatt hours in 1990. Guangdong Statistical Bureau, Guangdong tongji nianjian 1991 (Statistical Yearbook of Guangdong 1991) (Beijing: Chinese Statistical Publishing House, 1991), p. 161. In addition Guangdong imported electric power from Hong Kong.
60. Shanghai's production rose from 25.63 billion kilowatt hours in 1985 to 28.4 billion kilowatt hours in 1990. Shanghai Municipal Statistical Bureau, Shanghai Statistical Yearbook 1991 (Concise edition) (Beijing: China Statistical Publishing House, 1991), p. 73.
61. Guangdong Statistical Bureau, Statistical Yearbook of Guangdong 1991 (Beijing: Chinese Statistical Publishing House, 1991), p. 53.
62. State Statistical Bureau, Chinese Statistical Yearbook 1991 (Beijing: Statistical Publishing House, 1991), pp. 55.
63. Guangdong Statistical Bureau, Guangdong Statistical Yearbook 1990, p. 384
64. Statistical Yearbook of Guangdong; 1991, pp. 304, 309.
65. Shanghai Statistical Bureau, Shanghai Statistical Yearbook 1990, pp. 91-92
66. Shanghai Statistical Yearbook 1991, p. 64.
67. World Bank, China: Between Plan and Market (Washington, D.C.: The World Bank, 1991), pp. 21–22.
68. Song Hai, “Macroperspective reflections on the reform of China's foreign exchange management system,” Jingji yu guanli yanjiu (Research on Economics and Management), No. 1 (1988)
69. Song Hai, “Macroperspective reflections on the reform of China's foreign exchange management system,” Jingji yu guanli yanjiu (Research on Economics and Management), No. 1 (1988) reprinted in Caizheng; jinrong (Finance, Banking), No. 3 (1988), p. 143.
70. The Chinese Economy in 1990 and 1991: Uncertain Recovery (Washington, D.C.: Central Intelligence Agency, 1991), pp. 27–31.
71. Department of the Treasury, “Report to the Congress on international economic and exchange rate policy,” p. 25.
72. Erin McGuire Endean, “China's foreign commercial relations,” in China's Economic Dilemmas in the 1990s: The Problems of Reforms, Modernization, and Interdependence, Study Papers submitted to the Joint Economic Committee, Congress of the United States, Vol. 2 (Washington, D.C.: United States Government Printing Office, 1991), p. 769
73. Nicholas R. Lardy, “Redefining U.S.China economic relations,” Analysis Monograph Series No. 5. (Seattle, Washington: National Bureau of Asian and Soviet Research, June 1991).
74. Japanese External Trade Organization, China Newsletter, No. 61 (March-April 1986), pp. 23-24; No. 91 (March-April 1991), pp. 23-24; No. 97 (March-April 1992), pp. 22–23.
75. George Bush, letter to Senator Max Baucus, 19 July 1991, p. 3.
76. Lardy, Foreign Trade and Economic Reform in China, 1978–1990, pp. 136–141.