Use of trade for economic develeopment Flashcards
1
Q
Tibet (minerals)
A
- 2007 report found mineral deposits under Tibetan plateau
- estimated value $128 billion
- double reserves of copper, zinc and lead
- 2010 China Gold spent $40 million discovering 4.95 million tonnes of copper
- mining contributes 50% of county revenue, employs 600, 30% ethnic Tibetan
2
Q
Vietnam investment
A
- China invested $1.6 billion in bauxite mine in 2007
- Vietnam has world’s highest bauxite reserves
- in return, Chinese company Chalco was allowed to build the first steel processing plant
3
Q
Thailand investment
A
- 2007 invested $2.4 billion in a steel plant
4
Q
FDI legistlation
A
- “effective and efficient”
- 1979 Law on Joint Ventures of Chinese and Foreign Investment (legal framework)
- 1990 southern coastal tour, Deng Xiaoping restated his commitment to opening up the country to foreign investment
5
Q
Volume of FDI
A
- number 1 exporter, number 2 importer, 2011
- Jan-May 2008
- $40.7 billion (up 59.97% from 2007)
- 123 countries count china as largest trade partner
- 11,000 foreign companies established in China
- 2012 most popular FDI destination
- $59.1 billion (18% of total FDI of all states, up 11% from 2011)
- IMF lowered growth projection by 0.25% in May 2013, said growth had become “too dependent on the continued expansion of trade”
6
Q
Witholding exports/imports
A
- May 2012 banned Phillipine bananas, claiming pests - 30% of banana exports, $250 billion, economy had lost over $23 billion by June 2012
- following Liu Xiaobo Nobel Prize Win in 2010, Norwegian seafood imports fell by 59%, due to safety regulations
- Analyzing data between 1991 and 2008 from 159 trading partners of China, the study found that countries whose leaders met with the Dalai Lama, the exiled Tibetan leader, suffered a swift decline of 8.1 percent to 16.9 percent in exports to China. Gottigen University
- September 2010, stopped export of rare earth minerals (93% of earth reserves) to Japan
