By Yun-Wing Sung (auth.)

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Additional resources for The Emergence of Greater China: The Economic Integration of Mainland China, Taiwan and Hong Kong

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Taiwan’s figure on its outward FDI in the Mainland (approval basis) was even smaller at US$20 bn. However, a Taiwanese magazine estimated that the 2001 stock of Taiwan’s investment in the Mainland was as large as US$139 bn, or nearly five times the Mainland’s figure (Xu 2002:41). As there is no reliable estimate of Taiwanese investment in the Mainland, this book has to rely on Mainland statistics on inward FDI from Taiwan, though the figures must again be interpreted with care. Greater China: An Emerging Economic Reality 17 Pitfalls of trade statistics As Taiwan requires its trade with the Mainland to be conducted via third territories, mostly via Hong Kong, Taiwan understates its trade with the Mainland, but overstates its trade with Hong Kong.

The combined share in the Mainland’s contracted FDI declined from 80 per cent in 1992 to 52 per cent in 1995, but stabilized at around 52 per cent from 1996 to 2000, and then rebounded to 55 per cent in 2003. 4. declined from 78 per cent to 50 per cent in 2003. Despite the dramatic increase in investments from outside the China Circle, the Circle still accounts for half or over half of inward FDI in the Mainland in terms of the combined share. 6 shows the distribution of contracted FDI by industry.

The formation of trade blocs usually violates the principle of symmetry, as members of the bloc receive favourable treatment that is not enjoyed by non-members. For instance, discriminatory tariff preferences (giving tariff preferences to some members but not others) violate the MFN clause and are usually not allowed by the WTO. However, the WTO allows the formation of free-trade areas where free trade is practised among members. Regional trading agreements The following different types of RTAs (regional trading agreements), in ascending degree of economic integration, are usually distinguished: 1.

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