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近年来东亚承接了发达国家移出的产业,从根本上改变了传统工业的生产函数,经济实力开始增加,在世界贸易中份额上升,出口增长,经常项目顺差增多;东亚国家经济运行的良好表现,亦吸引了国际资本的流入,进而造成了国家外汇储备的增长。通过对中国数据的实证检验发现:中国在承接了发达国家转移的产业后,制造业出口迅猛发展,从而导致经常项目顺差,间接引发中国外汇储备迅速增长;同时,国际产业转移通过FDI的持续涌入促使资本和金融项目顺差,直接造成中国外汇储备的增加。在今后甚至较长一段时期东亚外汇储备还将处于高水平并仍将继续增加,这是东亚产业升级换代过程中必经的一个发展阶段,同时也是其他发展中经济体现在或者不久的将来在承接国际产业转移过程中将要发生的现象——在某种程度上说,这是一条国际经济规律。
In recent years, East Asia undertook the industries moved out of the developed countries and fundamentally changed the production function of traditional industries. Economic strength began to increase. Its share in world trade increased, its exports increased, and its current account surplus increased. The good performance of East Asian countries in their economic performance, It also attracted the inflow of international capital, which in turn led to the growth of the country’s foreign exchange reserves. The empirical test of China’s data shows that after China undertook the industries transferred from developed countries, the export of manufacturing industry developed rapidly, resulting in the current account surplus, which indirectly triggered the rapid growth of China’s foreign exchange reserves. At the same time, the international industrial transfer continued to flow through FDI Into promoting the surplus of capital and financial items, a direct result of China’s foreign exchange reserves increase. In the future or even a longer period of time, the foreign exchange reserves in East Asia will remain at a high level and will continue to increase. This is a necessary phase in the process of industrial upgrading and upgrading in East Asia. At the same time, other developing economies are now or will take over in the near future The phenomenon that will happen during the process of international industrial transfer - to a certain extent, this is an international economic law.