How Do Stages of Economic Development Affect China's Competitiveness? Efficiency Analysis: China's Position as a Global Player in Comparison with the WTO Members.

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F19%3A10241205" target="_blank" >RIV/61989100:27510/19:10241205 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

How Do Stages of Economic Development Affect China's Competitiveness? Efficiency Analysis: China's Position as a Global Player in Comparison with the WTO Members.

Original language description

Globalization generally refers to the process of the broadening and deepening of interrelationships in international trade and foreign investment. The outcome is the creation of a global marketplace for goods and services that is largely indifferent to national borders and governmental influence. Openness to trade, investment and even the movement of people is vital for prosperity, peace and individual freedom. Also, there have been few better moments in history where trade played the central role in global growth, job creation and development. The current economic circumstances are full of challenges. Rapid technological change coupled with falls in barriers to international trade, have driven it. Also, the World Trade Organization (WTO) agreements and regional treaties forced domestic markets to open up. This development and the current wave of globalization of the economy has generated widespread interest among countries and within countries in the development and upgrading of national competitiveness. The current economic circumstances are full of challenges, especially in the meaning of new global economic powers such as China. China has come a long way since the 1978 election of President Deng Xiaoping heralded a new era of market-oriented reforms. From 1980 to 2010, its economy grew 18-fold, averaging 10 percent a year. It progressed from low-income to upper-middle income country status, lifting hundreds of millions out of poverty: by 2011 just 6 percent of people were in extreme poverty, compared with 61 percent in 1990. Recent developments - including the weakening of the yuan, the stock market crash, rapid credit growth, and a stalling property market - have cast some doubt on China&apos;s economic prospects. Yet a hard landing of the Chinese economy still seems unlikely. China has the opportunity to be a global leader in a number of important areas that will be the cornerstones of global growth in the next decades and this is also challenging as well as the threat for the other WTO members and their competitiveness. The chapter focuses on evaluating the Chinese competitiveness and its position as a global player in comparison with the WTO members with using the Data Envelopment Analysis (DEA) method. Efficiency analysis is based on countries belonging to the relevant stage of economic development. Countries face very different challenges and priorities as they move from resource-based via investment-based to knowledge-based economies, which influences their competitive advantages and also disadvantages. The applicability and efficacy of the suggested approach are illustrated by a real data set involving 137 WTO members (from the whole 164 WTO members) within the factors of competitiveness (6 inputs and 6 outputs) based on the Global Competitiveness Index (GCI) in the period from 2007 to 2017, i.e., pre-in-post crises years. A quantitative score of competitiveness will facilitate WTO members in identifying possible weaknesses together with factors mainly driving these weaknesses.

Czech name

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Czech description

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Type

C - Chapter in a specialist book

CEP classification

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OECD FORD branch

50501 - Law

Project

<a href="/en/project/GA17-22426S" target="_blank" >GA17-22426S: Law Aspects of China´s Incorporation into the Global Trade System</a><br>

Continuities

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year

2019

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Book/collection name

Progress in Economics Research. Volume 42

ISBN

978-1-5361-5120-6

Number of pages of the result

64

Pages from-to

37-100

Number of pages of the book

248

Publisher name

Nova Science Publishers

Place of publication

New York

UT code for WoS chapter

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