China as capital-goods exporter

Note: The left panel is 1997, the right panel is 2009.

I’ve been reading the Macroeconomic Review of Singapore’s central bank (the new edition will be published in October), from which the above ‘heat maps’ are lifted. Read down the Y-axis for the exporting country, and the X-axis for the importer.

China is still a big importer of capital equipment — from Japan, Korea, Taiwan and the USA (the charts cover only East Asia and the USA). Now it’s also a big exporter to them.

The policy brief can be found here.

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