The Emergence of Greater China: The Economic Integration of Mainland China, Taiwan and Hong Kong (Studies on the Chinese Economy)

Cover......Page 1
Contents......Page 8
List of Tables......Page 11
List of Abbreviations......Page 13
Preface......Page 16
1 Greater China: An Emerging Economic Reality......Page 18
Impacts of the China Circle on the world economy......Page 24
Three layers of the China Circle......Page 26
Basic economic indicators of Greater China......Page 27
The emergence of Greater Southeast China......Page 29
The reintegration of Greater Southeast China......Page 31
Statistical pitfalls......Page 32
Organization of the book......Page 34
China\'s opening and economic reform......Page 35
Foreign investment......Page 37
Foreign capital in China......Page 38
China as an export base and as a market......Page 42
Foreign investment in China by source......Page 43
Foreign investment in the Mainland by industry......Page 49
China\'s trade......Page 52
Benefits of foreign investment and trade......Page 55
Summary......Page 56
Economic integration......Page 58
Regional trading agreements......Page 59
Subregional economic integration......Page 60
Geographical proximity and cultural affinity......Page 61
Cultural and geographical affinity versus policy change......Page 63
Hong Kong–Mainland relations......Page 64
The first shift: Hong Kong\'s estrangement from the Mainland......Page 66
The second shift: China\'s opening and shallow reintegration......Page 68
The third shift: deep integration after 1997......Page 71
Labour market integration......Page 76
Mainland–Taiwan relations......Page 78
Taiwan\'s policy changes and interactions with the Mainland......Page 79
Framework governing Taiwan–Mainland interactions......Page 80
Development of Taiwan–Mainland economic links in the 1990s......Page 81
Tensions and rapprochement across the Taiwan Strait......Page 83
Hong Kong–Taiwan relations......Page 85
A new brand of \'new-style\' integration......Page 88
4 Trade Between Hong Kong and the Mainland......Page 90
Complications of the Mainland\'s trade statistics......Page 91
Hong Kong\'s re-export statistics and the re-export margin......Page 92
Hong Kong as the middleman in the Mainland\'s trade......Page 94
The Mainland\'s trade with Hong Kong......Page 101
The Mainland\'s commodity trade with Hong Kong......Page 103
Outward processing trade......Page 105
Major commodities traded and outward processing......Page 108
The Mainland\'s trade with Hong Kong itself......Page 109
The Mainland\'s trade with third economies via Hong Kong......Page 110
Guangdong\'s trade with Hong Kong......Page 111
The Hong Kong–Guangdong production network......Page 112
Adjusting for the biases of outward processing trade......Page 113
The Mainland\'s service trade with Hong Kong......Page 116
Prospects for Hong Kong as a middleman in the Mainland\'s trade......Page 121
Conclusion......Page 124
Hong Kong\'s investment in China......Page 126
Evolution of Hong Kong\'s investment in the Mainland......Page 129
Investment of Hong Kong in Guangdong......Page 134
Hong Kong investment: benefits to Hong Kong and the Mainland......Page 137
Size of Mainland investment in Hong Kong......Page 140
Mainland\'s economic presence in major sectors of Hong Kong\'s economy......Page 142
Organization and operation of Mainland companies in Hong Kong......Page 144
Determinants of Mainland investment in Hong Kong......Page 147
Political determinants of Chinese investment......Page 150
Future trends......Page 153
Taiwan\'s investment in the Mainland......Page 154
Taiwan trade with China......Page 158
China\'s commodity trade with Taiwan......Page 170
Trade and investment between Hong Kong and Taiwan......Page 173
Conclusion......Page 177
Investments of the China Circle......Page 180
Trade of the CEA......Page 184
Complications of trade statistics......Page 185
Re-examination of trade in the CEA......Page 186
The degree of integration of the CEA in trade......Page 190
Exports of the China Circle in the international context......Page 194
Conclusion......Page 195
8 Policy Issues......Page 196
Impacts of the Mainland\'s entry into the WTO......Page 197
Development of Mainland–Hong Kong policy coordination......Page 203
Coordination in regional infrastructure......Page 206
Coordination in border area issues......Page 208
Coordination in tourism......Page 210
Coordination in technology policy......Page 212
Integration of financial markets......Page 213
Coordination to stabilize the exchange rate......Page 214
The Mainland and Hong Kong CEPA......Page 216
Breakthrough in Taiwan–Mainland Links?......Page 223
Social problems of economic integration......Page 224
Conclusion......Page 226
Gross inefficiencies in the Mainland\'s growth......Page 227
Problems of adjustment in the world market......Page 230
Tensions across the Taiwan Strait......Page 233
Stability of Hong Kong after 1997......Page 234
The China Circle and the world trading system......Page 238
Notes......Page 240
References......Page 243
C......Page 247
F......Page 248
H......Page 249
M......Page 250
S......Page 251
U......Page 252
Z......Page 253