IDEAS home Printed from https://ideas.repec.org/a/taf/rripxx/v21y2014i1p130-156.html
   My bibliography  Save this article

Market rebalancing of global production networks in the Post-Washington Consensus globalizing era: Transformation of export-oriented development in China

Author

Listed:
  • Chun Yang

Abstract

The current global financial crisis has prompted researchers to revisit the export-oriented development models, known as the 'Washington Consensus' paradigm, that have prevailed in East Asia during the past few decades. Host domestic markets have been generally neglected in the conceptual construct and empirical analysis of export-oriented development. Drawing upon the global production networks (GPNs) perspective, the study advances an evolutionary framework to shed light on the rising domestic market in China as emerging dynamics of regional transformation in contemporary economic globalization. The study is conducted based on updated investigations of the market rebalancing of transnational corporations (TNCs) in China, and particularly the Pearl River Delta (PRD), in response to the post-crisis global-local interaction. It argues that the institutional and network embeddedness of TNCs in the processing trade regime have hampered their 'recoupling' with the domestic market and 'decoupling' from external markets. Instead, a domestic market oriented production network is emerging, driven by strategic contract manufacturers through relocation to inland China. As a pilot attempt to articulate the domestic market in the GPN framework, this study urges more research to reflect the implications of the restructuring of GPNs and market reorientation of TNCs for reshaping regional trajectories in the post-Washington Consensus global economy.

Suggested Citation

  • Chun Yang, 2014. "Market rebalancing of global production networks in the Post-Washington Consensus globalizing era: Transformation of export-oriented development in China," Review of International Political Economy, Taylor & Francis Journals, vol. 21(1), pages 130-156, February.
    • Handle: RePEc:taf:rripxx:v:21:y:2014:i:1:p:130-156
    DOI: 10.1080/09692290.2013.776616
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/09692290.2013.776616
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/09692290.2013.776616?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Peltonen, Tuomas A. & Pula, Gabor, 2009. "Has emerging Asia decoupled? An analysis of production and trade linkages using the Asian international input-output table," Working Paper Series 993, European Central Bank.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Yuan, Feng & Wei, Yehua Dennis & Xiao, Weiye, 2019. "Land marketization, fiscal decentralization, and the dynamics of urban land prices in transitional China," Land Use Policy, Elsevier, vol. 89(C).
    2. McWilliam, Sarah E. & Kim, Jung Kwan & Mudambi, Ram & Nielsen, Bo Bernhard, 2020. "Global value chain governance: Intersections with international business," Journal of World Business, Elsevier, vol. 55(4).
    3. Robert Hassink & Chun Yang & Tianlan Fu & Lixun Li, 2017. "Emerging Adaptation of Local Clusters in China in a Shifting Global Economy: Evidence from the Furniture Cluster in Houjie Town, Dongguan," Growth and Change, Wiley Blackwell, vol. 48(2), pages 214-232, June.
    4. Xiaowen Li & Yiming Tan & Desheng Xue, 2022. "From World Factory to Global City-Region: The Dynamics of Manufacturing in the Pearl River Delta and Its Spatial Pattern in the 21st Century," Land, MDPI, vol. 11(5), pages 1-19, April.
    5. Sun, Yutao & Grimes, Seamus, 2016. "China’s increasing participation in ICT’s global value chain: A firm level analysis," Telecommunications Policy, Elsevier, vol. 40(2), pages 210-224.
    6. Azmeh, Shamel & Nguyen, Huong & Kuhn, Marlene, 2022. "Automation and industrialisation through global value chains: North Africa in the German automotive wiring harness industry," Structural Change and Economic Dynamics, Elsevier, vol. 63(C), pages 125-138.
    7. Pasquali, Giovanni & Krishnan, Aarti & Alford, Matthew, 2021. "Multichain strategies and economic upgrading in global value chains: Evidence from Kenyan horticulture," World Development, Elsevier, vol. 146(C).
    8. Huiwen Gong & Robert Hassink & Cassandra Wang, 2021. "Strategic coupling and regional resilience in times of uncertainty: the industrial chain chief model in Zhejiang, China," PEGIS geo-disc-2021_06, Institute for Economic Geography and GIScience, Department of Socioeconomics, Vienna University of Economics and Business.
    9. Qingyi Chen & Qinglan Qian & Zuolin Yao & Na Yang & Junyue Tong & Yujiao Wang, 2022. "Global–Local Knowledge Spillover Strategic Coupling Network: Biopharmaceutical Industry Study of GBA, China," Sustainability, MDPI, vol. 14(21), pages 1-17, November.
    10. Henry Wai-chung Yeung & Neil M. Coe, 2015. "Toward a Dynamic Theory of Global Production Networks," Economic Geography, Clark University, vol. 91(1), pages 29-58, January.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alyson C. Ma & Ari Van Assche, 2012. "Is East Asia's Economic Fate Chained to the West?," CIRANO Working Papers 2012s-11, CIRANO.
    2. Hubert Escaith & Fabien Gonguet, 2011. "International Trade and Real Transmission Channels of Financial Shocks in Global Production Networks: An Asian–USA Perspective," Chapters, in: Satoshi Inomata (ed.), Asia Beyond the Global Economic Crisis, chapter 3, Edward Elgar Publishing.
    3. Dungey, Mardi & Vehbi, Tugrul & Martin, Charlton, 2014. "VAR modelling in the presence of China’s rise : an application to the Taiwanese economy," Working Papers 2014-09, University of Tasmania, Tasmanian School of Business and Economics.
    4. Helble, Matthias & Ngiang, Boon-Loong, 2016. "From global factory to global mall? East Asia’s changing trade composition and orientation," Japan and the World Economy, Elsevier, vol. 39(C), pages 37-47.
    5. Satoshi Inomata (ed.), 2011. "Asia Beyond the Global Economic Crisis," Books, Edward Elgar Publishing, number 14205.
    6. Suder, Gabriele & Liesch, Peter W. & Inomata, Satoshi & Mihailova, Irina & Meng, Bo, 2015. "The evolving geography of production hubs and regional value chains across East Asia: Trade in value-added," Journal of World Business, Elsevier, vol. 50(3), pages 404-416.
    7. Fidrmuc, Jarko & Korhonen, Iikka, 2010. "The impact of the global financial crisis on business cycles in Asian emerging economies," Journal of Asian Economics, Elsevier, vol. 21(3), pages 293-303, June.
    8. Ismail Genc & Abdullah Jubain & Abdullah Al-Mutairi, 2010. "Economic versus financial integration or decoupling between the US and the GCC," Applied Financial Economics, Taylor & Francis Journals, vol. 20(20), pages 1577-1583.
    9. repec:ilo:ilowps:459401 is not listed on IDEAS
    10. Soyoung Kim & Jong‐Wha Lee & Cyn‐Young Park, 2011. "Emerging Asia: Decoupling or Recoupling," The World Economy, Wiley Blackwell, vol. 34(1), pages 23-53, January.
    11. Escaith, Hubert & Gonguet, Fabien, 2009. "International Trade and Real Transmission Channels of Financial Shocks in Globalized Production Networks," MPRA Paper 15558, University Library of Munich, Germany.
    12. Ch. Buelens, 2013. "Decoupled and resilient? The changing role of emerging market economies in an interconnected world," Economic Review, National Bank of Belgium, issue ii, pages 23-39, September.
    13. Dirk WILLENBOCKEL & Sherman ROBINSON, "undated". "The Global Financial Crisis, LDC Exports and Welfare: Analysis with a World Trade Model," EcoMod2009 21500092, EcoMod.
    14. Park, Donghyun & Shin, Kwanho, 2010. "Can Trade with the People’s Republic of China Be an Engine of Growth for Developing Asia ," Asian Development Review, Asian Development Bank, vol. 27(1), pages 160-181.
    15. Eleonora Cutrini & Giorgio Galeazzi, 2012. "Can emerging economies decouple from the US business cycle?," Working Papers 41-2012, Macerata University, Department of Studies on Economic Development (DiSSE), revised Jul 2014.
    16. Richard Pomfret, 2009. "Regionalism in the Asia-Pacific Region: How Wide, How Deep?," School of Economics and Public Policy Working Papers 2009-31, University of Adelaide, School of Economics and Public Policy.
    17. Kucera, David, & Roncolato, Leanne. & Uexküll, Erik von., 2010. "Trade contraction in the global crisis : employment and inequality effects in India and South Africa," ILO Working Papers 994594013402676, International Labour Organization.
    18. Lejour, Arjan & Rojas-Romagosa, Hugo & Veenendaal, Paul, 2012. "Identifying hubs and spokes in global supply chains with redirected trade in value added," Conference papers 332177, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    19. Robert Koopman & Zhi Wang & Shang-Jin Wei, 2014. "Tracing Value-Added and Double Counting in Gross Exports," American Economic Review, American Economic Association, vol. 104(2), pages 459-494, February.
    20. di Mauro, Filippo & Forster, Katrin & Lima, Ana, 2010. "The global downturn and its impact on euro area exports and competitiveness," Occasional Paper Series 119, European Central Bank.
    21. Andreas Maurer & Christophe Degain, 2012. "Globalization And Trade Flows: What You See Is Not What You Get!," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 3(03), pages 1-27.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:rripxx:v:21:y:2014:i:1:p:130-156. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/rrip20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.