Hyelin Choi, Korea Institute for International Economic Policy: As China opens to foreign trade and investment and implements free-market reforms from the 1970s, it reports the fastest-growing economy with its real GDP of around 10 percent through 2017. Accordingly, Chinese exports rose from US$ 14 billion in 1979 to US$ 2.3 trillion in 2017 and imports grew from US$ 18 billion to US$ 1.8 trillion, reporting that the annual growth rates of China's export and import from 2000 to 2008 are 25.1 percent and 24.2 percent, respectively. In 2012 China became the world's largest trading economy, and it was the largest trading partner for 130 countries as of 2013.
This paper investigates a long-run evolution of the twin-hub trade pattern by focusing on East Asia. Japan has been a leading country for industry development since World War Ⅱ, and China emerged into the global market through the global value chain...