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    China’s 40 Years of Opening-up: Evaluation and Prospects

    Yang, Pyeongseob; Na, Suyeob; Park, Minsuk; Lee, Hanna; Cho, Koun; Oh, Yunmi | August 2019
    Abstract
    The year 2018 marks the 40th anniversary of China's reform and opening policy. The opening of China to the outside world for the past 40 years started with the establishment of special economic zones, and was accelerated by its accession to the WTO, which has made an important contribution to the rising status of the Chinese economy in the global context. As China celebrates its 40th anniversary of reform and opening-up, it faces new challenges both internally and externally. Internally, there is a growing need to link China’s opening to the outside world with domestic restructuring, while, externally, countries like the United States are pushing back against China’s rise. To cope with such environmental changes, China is showing signs of embarking on a new opening policy. In the 25 years since the establishment of diplomatic relations between Korea and China, China has emerged as Korea's largest trading partner and second largest investment destination, and the influence of changes in China's foreign policy on the Korean economy and Korea-China cooperation is also growing. Therefore, this study comprehensively looks at China's opening policy over the 40 years of its reform and opening policy, and anticipates the direction of the opening policy which Xi Jinping will pursue in his second term. For this purpose, we identified major areas (regional opening strategy, foreign direct investment strategy, outward investment strategy, FTA strategy, and the U.S.-China trade relationship) to examine changes in the opening policy, going on to present countermeasures that Korea may take.
    Citation
    Yang, Pyeongseob; Na, Suyeob; Park, Minsuk; Lee, Hanna; Cho, Koun; Oh, Yunmi. 2019. China’s 40 Years of Opening-up: Evaluation and Prospects. © Korea Institute for International Economic Policy. http://hdl.handle.net/11540/10905.
    ISSN
    2233-9140
    Keywords
    Regionalism
    Regional Economy
    Regional Trading Arrangements
    Regional Trade Integration
    Regional Economic Integration
    Regional Cooperation
    Interregional Cooperation
    Trade Disputes
    Trade Barriers
    Free Trade
    Trade
    Trade Agreements
    Intraregional Trade
    Government Policy
    Regional Organization
    Regional Plans
    Economic integration
    Regional Development Bank
    Preferential tariffs
    International negotiation
    Protectionist measures
    Access to markets
    Economic agreements
    International trade law
    Regional integration
    Trade relations
    Exports
    Economic integration
    Distribution
    Economic integration
    Development Bank
    Trade policy
    Small Business
    Regional economics
    Regional planning
    Regional disparities
    Interregionalism
    Regional economic disparities
    Regional economic blocs
    Industrial arbitration
    Euro
    Inflation
    Business
    Finance
    Free trade
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/10905
    Metadata
    Show full item record
    Thumbnail
    WEB19-19.pdf (476.9Kb)
    Author
    Yang, Pyeongseob
    Na, Suyeob
    Park, Minsuk
    Lee, Hanna
    Cho, Koun
    Oh, Yunmi
    Theme
    Regional
    Trade

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    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise