Structure Of World Trade Research Articles

STRUCTURAL CHANGES IN INTERNATIONAL TRADE OF WORLD LEADERS

The article examines the impact of structural changes in trade flows of leading countries on the state of the global economy, trends in its qualitative changes, and the consequences of this process. The analysis of the works of domestic and foreign scientists on this issue gives understanding of the lack of research on certain elements and factors that affect the dynamics of processes occurring in modern trade against the background of global economic events and shifts, such as Brexit, the COVID-19 pandemic, Russian aggression against Ukraine, etc. Therefore, to understand the general trends in the development of international trade and the world economy as a whole, special attention should be paid to the study of changes occurring in the foreign trade of key players, the leaders of global trade. An analysis of the aggregated geographic structure of world trade shows a clear separation of three regions where the centers of export and import of goods are concentrated: Asia, Europe, and North America. Three other large regions (Africa, South and Central America, Australia and New Zealand) cannot have a significant impact on the overall situation, as their combined share in world trade is only about 7.5%. The last six years have seen continuing trends of changes in the group of leaders, which are connected with the further redistribution of world markets, continue. But, if North America did not manage to achieve a positive trade balance, even during the tough foreign trade policy of D. Trump, Europe and Asia, however, maintained an excess of exports over imports, although imports grew more dynamically. Five leading countries have been identified by the indicator of total turnover in 2021. These five include China, the US, the Netherlands and Japan. They represent the three centers of world trade. Their total share in world exports is 37.4%, and in world imports - 38.0%. This gives reason to hypothesize that the general state and structure of world trade largely depend on the activities of these countries. Examining the changes that have taken place in the product structure of exports, it is possible to highlight several trends that are common to all leading countries. First of all, over the last 6 years, the specific weight of fuel and mineral supplies to the world market has increased in the structure of both global exports and all leading countries’ exports. Secondly, the growth of the specific weight of exports of chemical industry products can be attributed to the general trends of both world trade and certain leading countries. Thirdly, in contrast to the previous two upward trends, the share of trade in telecommunications equipment shows an overall downward trend. To assess the degree of synchronization of the structure of world trade and foreign trade of the leading countries, the correlation coefficients of these structures have been calculated. The most closely related to the world export structure is the US export structure, and the most closely related to the world import structure is the Germany’s import structure. This not only confirms the hypothesis about the decisive influence of these leading countries on world markets, but also provides grounds for forecasting world trends based on the study of foreign trade of individual countries. Thus, the conducted analysis showed that certain changes are taking place in the aggregated geographical structure of world trade, which are associated with the rapid expansion of the specific weight of the Asian region. North America and Europe are losing their positions both in terms of the international trade turnover and in terms of its individual components

The Impact of COVID–19 on EU‑China Trade Flows

COVID–19 is expected to have contributed towards changing the geographical structure of world trade, including trade between individual EU countries and China. This article presents the results of an analysis of the impact of the COVID–19 pandemic on Sino‑EU trade flows. The research aims to ascertain whether European Union countries noted a strengthening of their competitive advantage in trade with China in any of the 21 HS sections by increasing the value of the normalized revealed comparative advantage index (NRCA). To identify and select the most significant NRCA observations, Chebyshev’s inequality was used. The analysis was carried out for 2015 to 2020, with a particular emphasis on 2020, when the first effects of the COVID–19 pandemic were recorded. EU‑China trade relations have been the subject of numerous studies, but their nature has not yet been fully elucidated. This article tries to fill that gap. The analysis of mutual trade, especially at such an important moment from the socio‑economic perspective, can bring significant results. The analysis revealed that the pandemic did not result in any decline in EU‑China trade. In fact, global trade rose in 2020, with most of the 27 EU countries recording increases in both imports and exports. There were also no significant changes in the structure of the distribution of comparative advantage. However, in contrast to the previously analyzed years (2015–2019), in 2020, the NRCA index shows a flatter distribution, suggesting that most EU countries with the highest comparative advantages actually observed reductions in them.

Transport equipment network analysis: the value-added contribution

Emerging in the twenty-first century, Network Science provides practical measures to interpret a system’s interactions between the components and their links. Literature has focused on countries’ interconnections on the final goods, but its application on the value-added from a network perspective in trade is still imitated. This paper applies network science properties and a multi-regional input–output analysis by using the UNCTAD-Eora Global Value Chain Database on the Transport Equipment value added on 2017 to unwrap the specific structural characteristics of the industry. Results show that the industry is highly centralized. The center of the network is dominated by developed countries, mainly from Europe, the United States, and Japan. Emerging countries such as China, Mexico, Thailand, and Poland also have an important position. In addition, the structure reveals two sub-hubs located in East Europe and North America. By extending to community detection, the network consists of three different communities led by Germany, the United States, and the United Kingdom, associated with more significant value-added flows. The study concludes that flows are not always consistent with the economy’s geographical location as usually final goods analysis suggests, and highlight the need to continue using the complex network to reveal the world trade structure.

The global changes factors in international trade and russias military aggression: impact on the development of export activities in Ukraine regions

Comparative analysis of trends and structure of world trade and trade of Ukraine in the international market, as well as the impact of the covid-19 pandemic on the volume of trade in Ukraine and the world is carried out. It is established that world trade is characterized by more pronounced nature of the growing and declining dynamics in comparison with Ukraine's international trade, which is characterized by relative stability in the volume of export-import operations. It is argued that the main globalizing factors determining the trends in Ukraine's international trade today and in recent years are covid-19 pandemic, free trade zone with the EU and Russia's war against Ukraine. Peculiarities of Ukraine's cooperation with the EU in international trade in goods and services are analyzed. It is established that in the pandemic 2020 there was strengthening of Asian and American trends in the geographical structure of exports from Ukraine and European and American trends in the geographical structure of export services. The foreign trade in goods and services of the regions of Ukraine with the EU is analyzed. It has been established that Lviv oblast is the most integrated into the EU according to the European Integration Economic Progress Index, the share of exports of services to the EU and the share of exports in commodity trade among all regions of Ukraine, despite the covid-19 pandemic. The possible consequences of Russia's full-scale war against Ukraine for the export activities of the state and its regions are analyzed. It is noted that Ukraine lost half of its export capacity in just one month of the war. This is due to the destruction of warehouses, production, freezing of production, as well as blocking the main export routes – the ports of Nikolaev, Odessa and Mariupol. It is established that in the future the following factors can reduce the export of agricultural products from Ukraine: reduction of the total area of crops, sown areas of export-oriented crops (including sunflower and corn) in favor of food crops (peas, barley, oats) for domestic consumption in wartime and the destruction of domestic granaries and elevators by the aggressor. It has been argued that Russia's military aggression against Ukraine as a factor in reducing export activity will not only lead to significant budget losses due to reduced export revenues, but will also threaten global food security. In view of this, the search for new alternative logistical ways to export goods to the world market is becoming one of the priorities in the implementation of Ukraine's export strategy in the near future.

Development of foreign trade in agricultural products and foodstuffs of Belarus by the degree of processing of goods

The structure of world trade in agricultural products and food is analyzed based on the degree of processing of goods. A comparative assessment of the export and import of agro-food products of Belarus is given in the context of the increasing role of products with a high degree of processing of raw materials. The main commodity positions of the country in export and import are presented, systematized into 3 groups – unprocessed products, goods with partial processing and goods with a high level of processing.

WORLD AGRICULTURAL MARKETS: ANALYSIS OF DYNAMICS AND PROSPECTS

Introduction. World prices affect the level of domestic pricing, which, in turn, affects the level of competitiveness of products. In addition to price levels, international agricultural markets are influenced by the volume of production of a particular product by individual countries, the general dynamics of trade, exports and imports, intergovernmental relations between specific countries to establish the volume and list of quotas. Despite the constant positive dynamics of increasing world trade in Ukrainian agricultural products, the existing domestic foreign economic export potential is not fully used, which requires finding ways to intensify its use and further increase. The purpose of the article is to analyse the world agricultural markets, assess the prospects for their development and justify ways to strengthen Ukraine's position on them. Results. An analysis of the growth and structure of world trade, as well as its place in world gross domestic product have been implemented. The dynamics of prices for key food products in the world is determined, based on which the ARIMA model for forecasting the price of wheat on the world agricultural market is proposed. The level of competition of key Ukrainian agricultural goods on the world market (wheat, sunflower, barley, corn) is determined as determinants of these markets. Based on the analysis of the dynamics and prospects of world agricultural markets, it is proposed to classify world agricultural markets into classic agricultural; innovative, represented mainly by organic products; niche crops; livestock markets. Promising foreign agricultural markets for Ukrainian agricultural producers, namely niche markets, have been identified. Key words: agricultural market, world agricultural markets, agricultural producers, market structure, export, competitiveness.

Distribution of productive forces in the global steel market

The events taking place in the world in the new Millennium were the result of global changes in the political and geographical structure of the world space at the end of the previous century. The collapse of the Soviet Union, the fragmentation of the socialist camp, the changes in the middle East – all this could not but affect the redistribution of the centers of productive forces, among which not the last role belonged to the metallurgical industry. The article describes the largest steel production centers with key positions in the structure of world trade.

АКТУАЛІТЕТИ ВПРОВАДЖЕННЯ 5G-ТЕХНОЛОГІЙ У КНР В УМОВАХ ЦИФРОВІЗАЦІЇ ЕКОНОМІКИ

The study examines the main trends in the digitalization of the economy that includes implementation of 5G technologies in various spheres of life on the example of the People's Republic of China. To estimate the readiness of the Chinese economy an analysis of the main indicators characterizing the level of development of information and communication technologies and the presence of positive factors for the successful implementation of innovations was conducted. The first part of the article presents advantages and possible risks of 5G mobile network and its value for various life areas and different countries (by development level). The main issues concerning 5G implementation into existing business models and design of new business structures are defined as system unavailability. That`s why, the second part is based on research of the level of 5G distribution in the socio-economic spheres in China at today`s level. Also, the study examines the projects planned under the strategy "Made in China 2025". As 5G technology is an important component of future competitiveness, it can be the ground for a new round of confrontation between the two largest economies, the United States and China. The third part of the study represents the analysis of the main events took place during trade conflict in 2018 and aspects of its exacerbation because of competition for leadership in production and supply of ICT products that require connection to 5G. The study displays the modern ICT market conjuncture, inclusive of restrictions and sanctions imposed on some Chinese companies and forecast of potential ways of situation changes and revision of China`s place in world trade structure. The analysis proposed a set of measures for the improvement of labor market and financial and technical sector functioning, and the development of digital infrastructure, aimed at further improving the digital economy and competitiveness of China. The prospects in this direction include broadening the law and regulation framework, increasing in the state investment connected with innovations and development and extension of 5G mobile network.

Machines as manifestations of global systems: Steps toward a sociometabolic ontology of technology

Anthropologists have generally found it reasonable to understand the Industrial Revolution in Britain as a product of global historical processes including colonialism and the structure of world trade. The extent to which the industrialization of British textile production was contingent on global processes has been illuminated in detail by historians such as Joseph Inikori. Andre Gunder Frank proposed that we should reconceptualize technological development as a ‘world economic process, which took place in and because of the structure of the world economy’. Yet the theoretical implications of understanding industrial technological systems as global and unevenly distributed phenomena have, by and large, not contaminated mainstream conceptions of technologies as politically neutral and fundamentally innocent manifestations of enlightenment, detachable from the societal contexts in which they have emerged. Social theory nevertheless offers perspectives for a radical rethinking of this conventional ontology of modern technology. If the premises of actor–network theory, material culture studies, Marxism and poststructuralist critiques of power and inequalities are combined with the perspectives of ecological economics on global social metabolism, the fossil-fuelled textile factories of 19th-century Britain can be reinterpreted as social instruments for appropriating embodied human labour and natural space from elsewhere in the global system. A renewed ‘anthropology of technology’ might focus on the observation that technology is not simply a matter of putting nature to work, but a strategy of putting other sectors of global society to work.1

Brand as a tool of globalization

The degree of research into the relationship between the concepts of «globalization» and «branding» has been traced. The correctness of the terminology used by domestic researchers in the concept of branding is analyzed. The list of features that determine the similarity of the analyzed processes is determined. It is substantiated that the impact of branding on economic development is a process that needs to be managed. Branding and globalization have been found to affect the socio-economic development of the country. The object of the research is theoretical and methodological principles of branding in the context of globalization, which expands the horizons of the concept of brand-oriented development of national economy. The subject of research is the nature of the mutual influence of globalization and branding processes. The study of globalization, the conditions and factors contributing to its development, the directions of its impact, and the results of this impact is interdisciplinary and requires a fundamental study. The purpose of this paper is to justify the existence of mutual influence of globalization and branding, to determine its characteristics. To achieve the goal, the following were used methods: system-parametric approach - to scientific knowledge of branding and globalization, which allowed to reveal certain perspectives of these processes; сomparative analysis on globalization and branding, which helped to identify the directions and nature of the counter impact; management approach to the brand management process. The practical implications of the results are the ability to use them to manage branding development in Ukraine, which will have positive consequences for the country's integration into the global economic and civilizational space. Conclusions. The formation of a brand-oriented global economy is an evolutionary process that requires management to increase its effectiveness. The impact of globalization on the development of branding and the promotion of the objects of its transformation is brought about by qualitative changes in the structure of world trade in goods and services, as well as by positive dynamics of the value of national brands, first of all, in the developed countries of the world, whose strategy is obviously brand-oriented. Branding, in turn, dramatically amplifies the scale and effects of globalization, both economic and political, cultural, social processes on the planet, as the development of brands of goods and services implies maximization of advancement in the global market for goods and services provided by technical, technological, the creative, marketing benefits of relevant producers. National brands of countries around the world have an undeniable influence on the process of globalization, contributing to investment in countries, innovations, highly qualified staff and a large number of tourists, which proves to be a brand – an effective tool for globalization. Globalization and branding are mutually influencing, interdependent and reinforcing each other.

Is Trade Integration Leading to Regionalization? Evidence from Cross-Country Network Analysis

The present paper empirically analyzes the structural change in world trade over the last two decades by examining trade integration, leadership, and regionalization through a network model. We selected 50 countries encompassing both developed and developing nations and grouped them into 9 regions for 1990, 1992, 2000, 2010, and 2017. We have undertaken two principal analyses: (i) trade intensity indices and regionalization and (ii) linking trade intensity with network analysis. Therefore, this paper reaches a trade-off condition. The major findings of the study are as follows: (i) regional integration is stronger and has increased over the years; (ii) trade regionalization is primarily dominated by developed regions; (iii) trade liberalization has reduced the gap between the center and periphery; (iv) emerging Asian economies have developed as leaders and export hubs of goods in the global market; (v) trade liberalization has transformed and reshaped the world trade structure; and (vi) trade liberalization has not driven the lessening geodesic distance and transport costs from trade, and thus, there are no major gains for many countries.

Russia in the changing conditions of world trade: A structural view at the new positioning

This article discusses changes in the structure of world trade and the features of integration of Russian economy into the global exchange of goods and services. There is an increasing competition on global markets of goods and services that require high-skilled labor. During the last two decades, the structure of Russian export has not gained positive diversification shifts and comparative advantage in high value added goods. The article discusses the following problems of Russian trade policy: an overestimation of traditional sectors’ export potential, a lack of attention to the problems of integration into global value chains and international industrial cooperation, and an untapped potential of fast-growing medium-sized companies. The agenda of prospective Russian trade policy might include a transition to a broad interpretation of trade policy oriented towards long-term structural changes in the economy and a change in the positioning of sectors in global value chains, combined with measures to develop human capital and institutions, determining the further formation of the service sector.

Logistics and transport in industry 4.0: perspective for Ukraine

The elaboration of the fourth industrial revolution and the process of globalization of the world economy is sine qua non of the successful operation and transformation of logistics. The formation of Logistics 4.0 relies in particular on cutting-edge technologies and the digitalization of business processes. The complexity of the structure of world trade arouses interest to the complete range of logistics services provided within a single company. This logic of development requires the application of interdisciplinary approaches, combined with the efforts of engineers, researchers and those interested in the field of logistics.

International production networks and the world trade structure

In this work, we examine bilateral trade data in two industries with different technological characteristics (textiles and apparel, and electronics) in order to detect the presence of international production networks in these sectors and to assess their structures and organization. Moving from the recent stream of literature that underlines the importance of assessing the participation and position of a country within an international production system, generally much more complex than a simple chain, we examine if these networks can be identified using traditional trade data and if they are still mainly regional.We start by applying a particular specification of bilateral trade intensity indices to the matrix of world trade in each sector (from the BACI – CEPII database), using the BEC classification to distinguish between intermediate and final goods, in order to highlight trade flows driven by international production networks. We compute indicators for the world trade matrix and its regional partitions, as defined by exogenous geographical criteria, or by the existence of regional integration agreements. The resulting pattern of revealed trade preferences conveys useful information about the actual geographic distribution of the underlying international value chains.The core of the paper is an application of network analysis to better understand the topology of global and regional value chains. In each industry, we identify endogenous geographical sub-networks based on preferential trade links, again distinguishing between trade flows in intermediate or final goods, and we examine the topological structure of the trading regions, to assess whether they are similar across industries and goods’ categories, and if they are built around a central core country.On the basis of both approaches, we conclude that trade regionalization is still high, especially in electronics, confirming that geographical proximity and other integration factors still play a role in facilitating international production and trade. However, regionalization has slightly declined in the recent past, and there are some relevant preferential linkages bridging different regions.In addition, the topology of trade networks can indeed shed some light on the structure of the underlying production linkages. In particular, a stronger preferentiality and selection of partners seem to occur for trade in intermediate goods, as suggested by the theory of international fragmentation of production.

ASEAN ECONOMY COMMUNITY(AEC) INDONESIAN POLITIC OF TRADE IN CONTENDING WITH THE SIMPLE MARKET BASED PRODUCTION

INTRODUCTION:The questions are often appeared in explaining about business transaction internations, among otherthing how does a country pay attention to the world trade structure that contends unequivalent substances? What policies should any country produce in order to gain the advantage as maximum as possible from the trade transaction?. According to the writer, the economic experts and practisioners will be setting forth the two versions of answer those are: choosing among protectionsm, Protectionsm here is an efforts of the country to formulate economic policy in the persuit of protecting domestic economy from domination of the foreign products (Tambunan, 2004:325-328; Hadiwinata, 2006: 57) or trade Free trade requires being economic policy that opens market in a home country as wide as possible for the foreign products (Hadiwinata, 2006:57; Sinaga, 2010: 5859; Wangke, 2014: Vol VI, No. 10/II/P3DI: 5-8; Stanley, Quinn, Summer, 1994: International Organization 48.3 : 491).Connecting to free trade, a phenomenon in the last three decades developed rapidly, abreasting with the rapid growing of the world economic globalization that is emerging economic blocks of the regional trade in many parts of the world. In trade literature or international economy, this phenomenon is bought by regionalism, that is shaping regional economic integrations one of them is ASEAN by shaping Asean Economy Community (MEA) At the nineth ASEAN Summit Confence in Bali 2003 resulted Bali Concord II, that agreed shaping ASEAN Community to tighten ASEAN integration. Towards three communities those are towards ASEAN Political Security Community, ASEAN Economic Community, and ASEAN Socio-Culture Community (see Wangke,2014:6) and actually, the main purpose of shaping any block or regional economic integration is to raise trade and coorporation in the economic fields (Tambunan, 2004), Such as industry and investation intercountry which is eventually going to improve economic growth and welfare in the area .Just for the sake of flash back, the eventual purpose of AEC is economic integration like that has been planned in ASEAN Vision (Wangke, 2014:6) ASEAN Vision 2020, is : To create a stable, prosperous and highly competitive ASEAN economic goods, services, investment, skill labor economic development and reduced poverty and socio-economic disparities in year 2020 (see Wangke, 2014: 6). The writer tries to quote various refferencies connected to ASEAN Economic Integration by means of AEC Blueprint that involved four main pillars (Wangke, 2014:6) those are; (1) ASEAN is as simple market and based on complete production supported by flowing element of free of goods, service, investation, educated worker, and more free capital flow; (2) ASEAN is as a zone with the huge economic competitiveness, with rule element of competition, consummer protection, right on intelectual wealth, infrastructural expa nsion, tax, and e-commerce, (3) ASEAN is as zone with the equal economic development with element development of lowwer and middle business and ASEAN For countries such as Kamboja, Myanmar, Laos, dan Vietnam ,integration initiative, (4) ASEAN is as zone fully integrated with the global economy with coherent approaches element in economic relation outside zone, and increase engagement in the global production net. By putting into effect of AEC meaned ASEAN Countries agreed the integrated embodiment of zone economy which is implementation based on ASEAN economic Community (AEC) Blueprint, AEC Blueprint is mannual for the member countries of ASEAN in embodying AEC 2015.HOW ABOUT INDONESIA?Looking at various coorporation between Indonesia with WTO, (AFTA, CAFTA, Indonesia, Corea, and so forth), and G-20, For instance, the treaty between (1) Indonesia and World Trade Organization (WTO). Generally, the political economic element which is mentioned in WTO implied in decision of the trade trouble reduction ( Barriers Tariff ) even tariff cutting up to nol percent (Non Tariff Barriers). …

Net Comparative Advantage Index: Overcoming the Drawbacks of the Existing Indices

In this paper, we examine a number of indices used for measuring comparative advantages of a country in international trade for a good and propose the new net comparative advantage index that has several strong features. First, it reflects net trade, and that’s why it is more theoretically grounded than indices calculated only from export data. Second, it is consistent with Kunimoto (1977) theoretical framework that is highly appreciated among trade economists. Third, it is not totally focused on a single commodity (that is, it takes world trade structure into consideration), unlike net export index. Fourth, it accounts for economic openness, using GDP as a scale variable. Fifth, it is hardly exposed to structural distortions. Finally, its sign is consistent with the sign of the net trade. We compare the new index with CEPII theoretically grounded econometric indicator and show that the proposed index has better empirical characteristics and is much easier to calculate and interpret.

Discovering Preferential Patterns in Sectoral Trade Networks.

We analyze the patterns of import/export bilateral relations, with the aim of assessing the relevance and shape of “preferentiality” in countries’ trade decisions. Preferentiality here is defined as the tendency to concentrate trade on one or few partners. With this purpose, we adopt a systemic approach through the use of the tools of complex network analysis. In particular, we apply a pattern detection approach based on community and pseudocommunity analysis, in order to highlight the groups of countries within which most of members’ trade occur. The method is applied to two intra-industry trade networks consisting of 221 countries, relative to the low-tech “Textiles and Textile Articles” and the high-tech “Electronics” sectors for the year 2006, to look at the structure of world trade before the start of the international financial crisis. It turns out that the two networks display some similarities and some differences in preferential trade patterns: they both include few significant communities that define narrow sets of countries trading with each other as preferential destinations markets or supply sources, and they are characterized by the presence of similar hierarchical structures, led by the largest economies. But there are also distinctive features due to the characteristics of the industries examined, in which the organization of production and the destination markets are different. Overall, the extent of preferentiality and partner selection at the sector level confirm the relevance of international trade costs still today, inducing countries to seek the highest efficiency in their trade patterns.

Are Preferential Agreements Significant for the World Trade Structure? A Network Community Analysis

We assess the impact of preferential trade agreements (PTAs) on the structure of world trade by looking for communities in the world trade network (WTN), and allowing the presence of preferential trade patterns to emerge endogenously. The finding of significant communities (as defined in the topology of the networks) would imply that trading countries are organized in groups of preferential partners. We use different approaches to analyze communities in the WTN between 1962 and 2008, but all methods agree in finding no evidence of a significant partition, supporting the view that the existing PTAs are not strongly distorting the geography of trade patterns, at least at the aggregate level.

Changes in the Structure of World Trade in the Agri‐Food Industry: The Impact of the Home Market Effect and Regional Liberalization From a Long‐Term Perspective, 1963–2010

ABSTRACTThis study examines the reasons for changes in the composition of international trade in agricultural and food products. We use a Gravity Model to compare the impact of the key factors in bilateral agri‐food trade, which we split into three main product groups following Rauch's classification of goods, between 1963 and 2010 for a representative sample of 40 countries. Our results show that the greater rhythm of growth in differentiated and reference priced products can be explained by the existence of the home market effect. Regional trade agreements have had an unequal impact on distinct product types, being especially important in the processed product markets. [JEL Classification: F14, N70, Q17]

Trade linkages and growth in Latin America: An SVAR analysis

How do shocks originated in large economies around the globe have transmitted to the growth rates of Latin American countries? To answer this question, we propose a highly parsimonious structural VAR model, identified through bilateral trade linkages. Since trade weights evolve through time, the effects of shocks are time-varying and we are able to quantify how growth in the region has been affected by tighter trading linkages with fast-growing emerging economies, and how it has responded to a new world trade structure, featuring China as a major player. It is found that about half of the vigourous growth registered in Latin American countries by the end of the 2000s can be attributed to direct and especially indirect multiplier effects induced by the spectacular growth of the Chinese economy.