The simulation results suggest that Taipei,China’s growth would not be affected by a weakened yen in 2013,
but might decline marginally by about 0.05 percentage
points in 2014. The growth rate would...
rise initially as
manufacturing output increases owing to the lower
cost of imported inputs, but decline marginally later as
competitiveness marginally weakens. The real effective
exchange rate would gradually strengthen, but only minimally. Factors that could amplify the impacts are the
substitutability of products from Japan and Taipei,China and potential changes in the competitive landscape, such as the acquisition of Japanese brands by firms in the Republic of Korea.
Source: Staff calculations using GPM and a small open economy model., Asian Development Outlook 2013 - http://www.adb.org/countries/prc/main
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