best, particularly in comparison with that of China. Comparing these countries and reviewing the literature, we conclude … gained from trade, and by some measures, more so than China. We sketch out a theory in which developing countries can grow … continuing reforms, Chinese growth is likely to slow down sharply, perhaps leaving China at a level less than Mexico's real GDP …

. While the substantial presence of FIEs has contributed greatly to the recent export-led growth of China, an important …