Fujiwara, Ippei; Otsu, Keisuke; Saito, Masashi - School of Economics, University of Kent - 2011
impact on the ROW. The opening-up of China is beneficial to the ROW if it led to significant productivity growth in China …. Furthermore, China's balanced trade policy after the opening-up has helped the ROW rather than China. Hence, according to a simple … neoclassical model with complete markets, a gradual trade liberalization in China is prefereble to a drastic one from the ROW …