Bloom, Nicholas; Romer, Paul; Terry, Stephen; Van … - London School of Economics (LSE) - 2014
from a baseline OECD growth rate of 2% we find that trade integration with low-wage countries in the decade around China …In a general equilibrium product-cycle model, lower trade barriers in-crease Southern purchasing power, which lifts …, raising growth to 2.7%. China accounts for about half of these growth increases. …