Deborah Swenson: China's economy in the present day is remarkably different than it was, even in comparison with its structure in 2000, just prior to China's WTO entry. For this reason, although others have looked at the earlier performance of China's economy, it is valuable to look at its more recent performance and to be aware of the factors that have influenced its ongoing transformation. Along with China's WTO entry, which supported China's rapid export growth, other factors that came into play in the 2000s include the 2008 global financial crisis, the heavy entry of domestic firms in China, and substantial wage increases in China, particularly for skilled workers. Given the scope of these changes, Heli Simola's work on Chinese value-added in global value chains (GVCs) provides important perspectives on changes in...

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