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Intra-regional trade between China, Japan, and Korea : Before and After the financial crisis

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  • Intra-regional trade between China, Japan, and Korea
  • Kuroiwa, Ikuo; Ozeki, Hiromichi
  • nstitute of Developing Economies, Japan External Trade Organization


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Title Intra-regional trade between China, Japan, and Korea
Similar Titles
Sub Title

Before and After the financial crisis

Material Type Reports
Author(English)

Kuroiwa, Ikuo; Ozeki, Hiromichi

Publisher

[Chiba]:nstitute of Developing Economies, Japan External Trade Organization

Date 2010-05
Series Title; No IDE Discussion Paper / no. 237
Pages 29
Subject Country China(Asia and Pacific)
Japan(Asia and Pacific)
South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Trade
Holding IDE-JETRO

Abstract

East Asian economies have been heavily dependent on the U.S. and EU markets, especially for the export of final goods. Therefore, once the financial crisis hit Western economies hard, the East Asian economies lost their major markets. Their production networks then worked to the region’s disadvantage and stifled industrial development. This reflects the vulnerability of the East Asian economies which have adopted an export-led growth strategy. Such vulnerability needs to be addressed to prevent future economic crises, as well as to sustain economic growth. This paper examines the trade structure of the three countries-China, Japan, and Korea-before and after the Lehman Shock, and discusses how the three countries should cooperate in addressing imbalances in the trade structure.