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Report by China
Since the last trade policy review in 2010 in the face of the complex and volatile external environment and new circumstances and developments in economic situations at home the Chinese Government centered on the goal of maintaining strong sustainable and balanced growth has accelerated the transformation of economic development pattern stepped up efforts to expand domestic demand promoted structural adjustment and continued deepening the reform and expanding opening up. The national economy continued to develop at a rapid yet steady pace making important contributions to the world economic recovery and development.
Concluding Remarks by the Chairperson of the Trade Policy Review Body, H.E. Mr. Eloi Laourou of Benin at the Trade Policy Review of China, 11 and 13 July 2018
This seventh Trade Policy Review of China has allowed us to take a closer look at the trade and economic policies of China and to deepen our understanding of developments in those policies since its previous Review in 2016. I would like to thank once again Vice Minister Wang Shouwen and his delegation for their constructive engagement throughout this exercise. I would also like to thank the discussant Ambassador Chambovey Permanent Representative of Switzerland at the WTO for his insightful and comprehensive remarks; and the 70 delegations which have taken the floor for their active participation.
The Rise of the People’s Republic of China and Its Competition Effects on Innovation in Japan
As a reaction to import competition from low-wage economies firms in developed economies would respond by upgrading their innovative activities leading to so-called defensive skill-biased innovation. In this chapter we examine this “defensive innovation” hypothesis which was first discussed in Wood (1994) and subsequently formalized in Thoenig and Verdier (2003). In a broader context the effect of competition on the rate of innovation has been one of the most studied areas in the literature (e.g. Aghion et al. 2005). In the study most relevant to our work Bloom Draca and Van Reenen (2016) found that a large sample of European firms increased a wide range of their innovative activities (patenting research and development [R&D] expenditures computer use and total factor productivity growth) driven by intensified competition from the People’s Republic of China. This innovation was conducted within-firm.