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Previous research has shown that China's entry into the WTO in 2001 has had a profound impact on jobs and wages of low-skilled workers in the US in sectors exposed to Chinese imports. The same is not true for Germany. This column argues this is because the import-side trade adjustment to low-cost competition had already happened before the rise of China, because the rise of Eastern Europe offered new export opportunities for German firms, and because China’s love for product quality found a perfect match in German products. Vox.euThe China shock: Why Germany thrived while the US struggled Dalia Marin | Chair in International Economics, University of Munich; CEPR Research Fellow
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Mike Norman considers the following as important: China, Germany, international competitiveness, US
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Previous research has shown that China's entry into the WTO in 2001 has had a profound impact on jobs and wages of low-skilled workers in the US in sectors exposed to Chinese imports. The same is not true for Germany. This column argues this is because the import-side trade adjustment to low-cost competition had already happened before the rise of China, because the rise of Eastern Europe offered new export opportunities for German firms, and because China’s love for product quality found a perfect match in German products. Vox.euThe China shock: Why Germany thrived while the US struggled Dalia Marin | Chair in International Economics, University of Munich; CEPR Research Fellow
Topics:
Mike Norman considers the following as important: China, Germany, international competitiveness, US
This could be interesting, too:
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Previous research has shown that China's entry into the WTO in 2001 has had a profound impact on jobs and wages of low-skilled workers in the US in sectors exposed to Chinese imports. The same is not true for Germany. This column argues this is because the import-side trade adjustment to low-cost competition had already happened before the rise of China, because the rise of Eastern Europe offered new export opportunities for German firms, and because China’s love for product quality found a perfect match in German products.Vox.eu
The China shock: Why Germany thrived while the US struggled
Dalia Marin | Chair in International Economics, University of Munich; CEPR Research Fellow